Development Fund Announces €24K+ Prize Pool for 'Idea Competition' ({{commentsTotal}})

The Estonian Development Fund has announced a new competition where a year's worth of 2,000-euro monthly stipends would be paid to up to three separate individuals who come up with ideas for stimulating the Estonian economy.

Development Fund director Tõnis Arro said the point is not to look for 'Estonia's Nokia,' a popular tagline meaning a super-successful company that would transform Estonia into an international household word as Skype nearly did.

"We're looking for dreams that aren't really goals. In that sense it's different from a goal. If a goal isn't achieved, it's like the person has failed. But if a dream doesn't come true, it's good - the person has dreamed, tried," he said on ETV.

Above all, the fund is looking for ideas that will stimulate economic growth, Arro said.

"We prefer and select ideas connected with economic development, but everything is related to the economy. It can't be said that the other ones should not be entered.

Candidates must be able to outline the idea in 5,000 characters - about two standard pages of text.

A maximum of three winners would get the 2,000 euros a month along with a job at the Development Fund. The deadline for entries is May 1, and the winners will be announced before the Midsummer holidays.