Health Founders Estonia, the country’s first national healthtech accelerator, has opened applications for its second cohort. Until 4th of May, teams developing health or biotech solutions with ambitions to reach international markets are invited to apply. The first cohort brought 34 companies into the program.
Early-stage investment in healthtech has grown 800 percent since 2020. Capital and interest are there, what is missing are founders who can bring science-based ideas from the lab to the market.
Tõnu Esko, Vice-Rector for Development at the University of Tartu, genomics researcher and investor, notes that healthtech is no longer a narrow niche. “Our comparison of 2020 and 2025 shows early-stage investment in healthcare technology companies has grown 800 percent, reflecting both the rapid development of biomedicine and digital health and growing confidence in commercializing science-based solutions,” Esko says. In his view, the trend signals that healthtech is becoming one of the central engines of innovation, where academic knowledge and entrepreneurship meet.
Among the 34 companies in the first cohort are anESTesia, founded by anesthesia nurses at Tartu University Hospital to streamline the daily work of anesthesia teams, and TalTech research team CogniFlow, which is developing microdroplet technology for biotechnology laboratories. A Startup Bootcamp held in March drew nearly a hundred participants and produced 27 new healthtech concepts.
Natalia Pervjakova, Head of Health and Biotechnology at Sparkup Tartu Science Park, highlights Padakonn Pharma from the first batch of the accelerator. “Padakonn Pharma is one of the brightest examples,” she emphasizes. “They joined the program with a world-class scientific solution but faced very complex challenges.” Despite having a strong scientific foundation and international interest, the team had to navigate difficulties following their relocation to Estonia, as well as several unsuccessful attempts to secure the Research-Uptake Partnership grant. “This is where their biggest transformation happened – with the right focus and mentor support, they finally succeeded in securing the RUP grant,” Pervjakova explains. She adds that finding the right partners was just as critical: “We helped them connect with investors who understand that biotech development is a marathon, not a sprint.” Today, Padakonn Pharma has moved on to the next advanced program, transitioning from a scientific breakthrough to a strategically guided growth phase.
Siim Saare, Program Director of Health Founders Estonia and founder of Lifeyear, encourages teams to apply even if they are not sure they are ready. “You don’t have to know everything to start. Health Founders Estonia helps you figure out step by step what actually works,” Saare says. “If you are solving a genuinely important problem, the rest can be learned. HFE is a place where learning happens quickly and together with others.”
The accelerator offers practical support throughout the journey – mentorship, regulatory guidance, a clinical partner network, prototyping support, and investor readiness development. Teams are supported through three tracks based on their stage: DEFINE helps early-stage teams move from idea to validated value proposition; DEVELOP focuses on product development, clinical validation and regulatory certification; and GROW supports companies with a domestically validated solution in launching international growth and exports. All participants receive office space in Tallinn or Tartu.
Solutions are welcome from digital health, life sciences and biotech, ranging from software as a medical device to gene technology and drug development.
Applications are open until 4th of May.
Health Founders Estonia (HFE) is Estonia’s first national healthtech accelerator program. It is run by a consortium of four organizations: the Estonian Health Economy Association, the University of Tartu, Tartu Science Park, and Civitta. The program is funded by the European Union and Enterprise Estonia (EIS) through the Startup Estonia program. HFE brings together founders, experts, mentors, and partners to build the next generation of health economy companies.
