Estonia’s startup policies evoke a sense of déjà vu. Their structure is strikingly similar to Korea’s.
Startup visas, dedicated startup support agencies, national funds of funds and digital government. The tools are the same. But the results point in different directions. Korea’s policies generally aim to “grow our startups.” Estonia’s policies were designed from the outset to “bring the world’s founders to Estonia.”
Policies Focused Outward, Not Inward
Nothing illustrates the difference better than e-Residency. The program is not intended for Estonian citizens. It allows foreigners to establish an EU company without coming to Estonia. The program generated €124.9 million in economic impact in 2025, and e-residents are now involved in 48% of Estonian startups.
The startup visa follows the same logic. More than 2,700 applications have been filed since its introduction in 2017, and one-quarter of Estonian startup founders are foreign nationals. Companies established through the startup visa generated €34.9 million in revenue in the first half of 2024 alone.
For a country of 1.36 million people, the conclusion was clear: the ecosystem could not be filled with domestic talent alone. So Estonia opened its borders digitally. Korea, with a domestic market of 50 million people, may not face the same urgency as Estonia. But that is precisely why Korean startups expanding into Europe should look to Estonia now.
A photo on one wall at LIFT99 symbolizing collaboration with Korean startups and founders
The Door Estonia Opens for Korean Startups
Estonia offers Korean startups the lowest-barrier route into Europe. There are five reasons.
-
You can establish an EU company from Seoul. Korea became the first country in the world to open an e-Residency card collection center in 2018, and in 2025 the Estonian government opened its first overseas business hub, “Estonia Business Hub Seoul.” There are currently about 2,000 Korean e-residents. An Estonian company can do business as a European company anywhere in the EU’s 27 member states.
-
The tax structure favors growth-stage companies. Reinvested profits are not subject to corporate tax. That makes a decisive difference for startups putting revenue back into European expansion.
-
All administration can be completed in English. Company formation, tax filings and electronic signatures are handled online in English.
-
It is a proving ground for the Nordic and Baltic markets. Tallinn is a two-hour ferry ride from Helsinki. Products validated in Estonia can naturally expand into Finland, Sweden, Latvia and Lithuania.
-
The founder network is open. Communities such as LIFT99, where unicorn founders sit in the same building as early-stage founders, offer Korean entrepreneurs the fastest way to meet European investors, customers and partners.
Liisa Mahlapuu, the hub manager, offered this assessment of Korean startups:
“Estonian founders build global products from the beginning because they know there is no domestic market to rely on. Korean startups have products proven in a strong domestic market, along with strong execution. When the two sides meet, they can provide what the other lacks. When a Korean team comes to Tallinn, we can arrange meetings with European investors and customers within its first week.”
At the LIFT99 lounge — with Lisa Malapu, the hub manager
LIFT99 and Draper Korea Join Forces
This visit was both a reporting trip and a negotiation. Draper Startup House, where I serve as CEO and head of growth support, and Draper X Ventures agreed to work closely with LIFT99 to help startups in both countries grow and enter each other’s markets.
We agreed on three areas of cooperation. LIFT99 will serve as the first base for Korean startups making a soft landing in Tallinn, while Draper Startup House will play the same role when Estonian startups enter Korea. We will also make regular meetings between founders and investors from both countries.
What Hangs on the Wall and Who Sits Beside You
As the visit ended, I thought again of LIFT99’s walls. Ten unicorns hang above. Below them, 60 names stretch out like a honeycomb. In the basement, the names of companies that have passed through are carved into hundreds of logs.
Estonia’s lesson is not about policy tools. Korea has all the same tools. The difference is direction: opening the door outward instead of nurturing companies inward. That is why a country of 1.36 million people became a capital of European entrepreneurship.
Europe is far from Korean startups. But Tallinn is within reach from Seoul with a single e-Residency card. And in that city stands a building where a unicorn founder may be sitting beside you.
⁎ My deepest thanks to Liisa Mahlapuu, the manager who warmly welcomed us from Korea as if greeting close friends and shared so many stories with us.
Frequently Asked Questions (FAQ)
Q. What is LIFT99? A. It is a founder community hub established in 2016 by Pipedrive co-founder Ragnar Sass and others in Tallinn’s Telliskivi Creative City. Supported by the founders of Skype, Bolt and Pipedrive, it operates two hubs in Tallinn and one in Kyiv. It co-hosts the Estonian Startup Awards.
Q. Why is Estonia called a “unicorn country”? A. With a population of 1.36 million, it has produced 10 unicorns — Skype, Playtech, Wise, Bolt, Pipedrive, Zego, ID.me, Glia and Veriff, among others — or about seven per 1 million people, ranking first in Europe and second in the world.
Q. Can someone establish an EU company in Korea through e-Residency? A. Yes. e-Residency is a government-issued digital identity introduced by Estonia in 2014. Once they receive the card, holders can establish and operate an Estonian company online. Seoul has a card collection center and an Estonia Business Hub. However, e-Residency does not grant citizenship, residency rights or tax residency.
Q. How do Estonia’s startup policies differ from Korea’s? A. The tools — startup visas, national funds of funds and dedicated startup support agencies — are almost identical. The difference is direction. Estonia focuses its policies on attracting foreign founders: 25% of founders are foreign nationals, and e-residents are involved in 48% of startups.
Sources for This Column
-
LIFT99 official website (About), lift99.co
-
Tech.eu, “Missiles hit Kyiv startup hub LIFT99,” 2025.11
-
Estonian World, “Estonian startupper: the best companies are started in times of the worst crises,” 2020
-
AIN.ua, interview with Ragnar Sass, 2019.5
-
Invest in Estonia, “Estonia leads Europe in startups, unicorns and investments per capita” / “Estonian startups hit €3.9B revenue mark”
-
Startup Estonia, “The First Half of 2025 for the Estonian Startup Sector” / “Estonian Startup Sector in Q1 2025”
-
e-Residency official website, “e-Residency for Startups” / “Estonia opens its first ever business hub in Seoul,” 2025
-
Fintech News Baltic, “Estonia Ranks Second Worldwide in Unicorns per Capita,” 2026
-
EU-Startups, “The Estonian unicorn playbook for success,” 2025.7
-
Euronews, “Can the EU replicate Estonia’s startup success?,” 2026.2
-
Centre for Public Impact, “e-Estonia, the information society since 1997”
-
The Conversation, “Estonia is a ‘digital republic’”
-
Wikipedia, “E-Estonia”
-
Korea Herald, “Estonia touts e-Residency as tool to expedite Korean business entry in EU,” 2018
#Estonia #LIFT99 #Tallinn #EstonianMafia #eResidency #StartupVisa #UnicornCountry #DigitalGovernment #EuropeanExpansion #DraperKorea #DraperStartupHouse