EstBAN announced the cooperation with Harju Elekter since the beginning of November. The purpose of the collaboration is to involve Harju Elekter into the world of startup investing, encourage the startups to develop high-tech solutions and offer opportunities to raise more funding.
The goal of both EstBAN and Harju Elekter is to collaborate in order to create investment opportunities for the angels and startups and raising the cooperation and investment awareness of the corporations.
“We see innovative ideas daily but are lacking the knowledge on resources needed for investing into startups. Assessing projects with EstBAN gives us knowledge necessary for the field, “ said admitted Tiit Atso, the member of the board of Harju Elekter.
“In Estonia, we need more cooperation between corporations and the startup community. Our goal is to help large companies make wiser and more versatile investment decisions, as well as offering startups an opportunity to work with world-class companies with the means of financial, support, operational knowledge and clients,” said the chairman of the EstBAN’s board, Ivo Remmelg.
After launching its activities in 1968, Harju Elekter Group has developed into a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a well-known and respected manufacturer in Scandinavia. The main business is supported by a sheet metal plant in Estonia and the development of the industrial real estate. Harju Elekter Group’s plants in Estonia, Finland, Sweden and Lithuania employ more than 800 specialists, and the consolidated revenue of 2018 was 120.8 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.
EstBAN connects and educates business angels to increase investment quality, thereby helping innovative startups grow. EstBAN has ca 150 members from Estonia and neighbouring countries, interested in contributing to the Estonian startup ecosystem while building an investment portfolio.