Enterpreneurship Award 2022 TOP 10

This year again, Solarstone has been selected among the TOP10 in two essential categories of the Entrepreneurship Award 2022:

• Sustainable Enterprise

• Innovator

To be recognised among the best Estonian companies in the selection for the highest national award is a great honour.

Organised by EAS, KredEx, and the Confederation of Estonian Employers, the longest-running entrepreneurship competition in Estonia will be held for the 27th time this year, and the winners will be announced in October.

The Entrepreneurship Award is the highest national recognition for businesses

The Entrepreneurship Award is the longest-running entrepreneurship competition in Estonia, dating back to 1996. It was in 1996 that the title “Foreign Investor 1995” was awarded for the first time under the initiative of President Lennart Meri. Over time, competition has evolved and grown, and since 2000, the best companies have been selected and recognised under the name “Entrepreneurship Award”.

Companies are recognised in six different categories:

• Exporter

• Foreign Investor

• Innovator

• Sustainable Enterprise

• Tourism Developer

• Family Enterprise

The competition recognises Estonian companies that have succeeded through ingenuity and consistent work despite challenges. The winners will be selected in consultation with industry experts, who will assess the companies’ economic performance, significant achievements and contribution to society.

Solarstone has already been selected among the TOP10 in two categories:

• Sustainable Enterprise

• Innovator

How to judge innovation?

The Innovator award category aims to recognise Estonian companies that have implemented or brought to market a significant innovation that provides considerable value to customers or society and contributes to developing and disseminating knowledge and skills in their field beyond their own company.

Innovative companies must have a significant track record – a unique product/service that gives the company a competitive advantage in external markets and has demonstrated flexibility and adaptability in difficult situations and at times of change.

Significant development of a technology or process, relative to the general market level, which has brought about a substantial change in the company and has had an impact on its business performance, will be highly valued.

Solarstone’s technological advantages have been noticed by our customers and investors, who have only recently given their own impetus for even greater things.

The holy trinity of entrepreneurship

Enterprise innovation is not just a one-sided activity. While outstanding activities and achievements in both organisations and society can be grouped under the concept of the triple transition (digital, green and innovation), what exactly is it?

• Innovation is the implementation of new and knowledge-intensive solutions and technological innovation in an enterprise – one possibility is for companies to work together with universities in conducting applied research.

• Digitalisation is the implementation of automation, digital technologies, software solutions and robots to minimise the need for human intervention.

• Sustainability is our journey to a cleaner, greener and more dynamic Estonia and a more prosperous and diverse economy, considering our society’s needs.

A sustainable business cares for the environment and people

The focus on sustainable development in this recognition will be assessed based on the company’s social, economic and environmental performance.

The Sustainable Enterprise category recognises Estonian companies that have applied the principles of circular economy, greening and sustainability, have contributed to the promotion and awareness of greening and have implemented technological and/or organisational innovations in the last three years.

Sustainability can be assessed based on SDG (Sustainable Development Goals), ESG (Environmental Social and Corporate Governance) or similar methods. A change in technology or process that has led to a change in the company and impacted its economic performance is still relevant.

While the triple transition is essential for assessing a company’s innovativeness, it is just as crucial for sustainability. A sustainable business is on the road to a cleaner, fairer and more vibrant society, caring for the environment and people.

As mentioned earlier, just to be recognised among the best Estonian companies in the selection for the highest national award is a great honour! We wish the best of luck to all the nominees.