Minister Sutt confirmed the Supervisory Board of Enterprise Estonia and KredEx joint organisation


Yesterday, the Minister of Entrepreneurship and Information Technology, Andres Sutt, confirmed the composition of the Supervisory Board of the new organisation to be established on the basis of KredEx and Enterprise Estonia. Four current members from Enterprise Estonia and three from KredEx will continue on the Supervisory Board of the new organisation, plus two new members.

Sille Kraam, Deputy Chancellor of the Ministry of Economic Affairs and Communications, and entrepreneurs Ants Noot, Kristi Tiivas and Jaan Toots will continue from the Supervisory Board of Enterprise Estonia. Helo Meigas, a senior executive with experience in international banking, Mait Palts, Director General of the Estonian Chamber of Commerce and Industry, and Risto Kask, a representative of the Ministry of Finance, will continue from the Supervisory Board of KredEx.

The two new members will be Karen Kangro Burns, a start-up entrepreneur representing the Estonian Founders Society, and Renno Veinthal, Deputy Chancellor of the Ministry of Education and Research.

‘The first task of the Supervisory Board is to elect the Chairman of the Management Board of the new organisation and to set the strategy,’ said Sutt. ‘The new organisation has a key role to play in digital, green and innovation transitions, and in the development of the Estonian capital market. In the future, all services will be available in one place for the entrepreneur – customer-orientation will be one of the core values of the new organisation,’ he added.

The Minister pointed out that the state will offer ‘one-stop-shop’ solutions to companies. ‘KredEx and Enterprise Estonia have done a very good and commendable job, and I know that people from both organisations are committed and willing to help Estonian entrepreneurs expand into new markets and attract talent and investments to Estonia. The new organisation will give us the opportunity to increase our international reach and support domestic entrepreneurship,’ said Sutt.

The legal merger of KredEx and Enterprise Estonia and the merger of support services will be completed by the beginning of the new year. A transition phase will start in January, where a new structure and brand will be created for the joint organisation. The substantive merger will be completed in the course of 2022. In the meantime, services will continue to be offered under the existing brands of Enterprise Estonia and KredEx, and all services and websites will remain. The name of the joint organisation will be the Estonian Business and Innovation Agency.