Estonian Review
Estonia is ranked 40th among 116 nations on the scoreboard of the IESE Business School of Spain ranking countries by their attractiveness to venture capital in 2012. Estonia improved its scores in two sub-categories: economic activity, and investor protection and corporate governance, rising from 64th place to 65th in the former and from 25th to 24th in the latter.

The top 10 this year was made up of the United States, Canada, Britain, Japan, Singapore, Hong Kong, Australia, Sweden, Germany and Switzerland.

In the survey, IESE Business School groups the articles that are vital for private equity and venture capital investors in making investment decisions into six sub-chapters: economic activity, depth of the capital market, taxation, investor protection and corporate governance, human and social environment, and entrepreneurial culture and deal opportunities.

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