SmartCap Ventures has invested €3 million in Nordic Science Investments I, enhancing the connection between academia and business in Estonia's innovative startup ecosystem.

Target Company Overview

SmartCap Venture Capital Fund has recently invested €3 million in Nordic Science Investments I (NSI), an early-stage venture capital fund dedicated to bridging the divide between academia and business. NSI focuses on investing in science-driven startups and university spinouts within the New Nordics, collaborating with over 12 esteemed regional universities, including Estonia’s leading institutions. Since its inception in February 2024, NSI has made significant investments in 19 companies, such as Estonia-based Mu-Ray Tech, which operates at the nexus of scientific disciplines and cutting-edge technologies. The fund specifically emphasizes areas like deeptech, health tech, and life sciences, which are pivotal industries engaging in innovations surrounding healthy aging, techbio, semiconductors, advanced materials, and intelligent systems.

Industry Overview in Estonia

Estonia is rapidly emerging as a vibrant hub for technology and innovation, with significant investments flowing into its growing startup ecosystem. The government has been active in promoting an entrepreneurial environment, bolstered by policies that encourage R&D and collaboration between academic institutions and the business sector. This conducive environment enables startups to thrive, particularly those that leverage science and technology to address global challenges.

The country has a strong emphasis on developing sectors such as deeptech and health technology, reflecting a broader trend in the New Nordics, where academic research often translates into pioneeri