Estonian entrepreneur urges small nations to embrace bold risks for growth

Estonian entrepreneur Kaidi Ruusalepp has spoken about the need for bold thinking in small nations. She argues that fear of failure often holds back progress in countries like Estonia. Her comments come after years of working in the local startup scene. Ruusalepp has spent the last 15 years in Estonia’s startup sector. During this time, the industry has grown rapidly. In 2021, the turnover of Estonian startups hit 10 billion euros, marking a 20% rise from the year before.

She believes small countries must embrace risk rather than shy away from it. To make her point, she reworked a well-known saying. Instead of 'he who does not take risks does not drink champagne,' she offered an Estonian twist: 'Those who don't take risks drink Kelluke.'

Beyond her advocacy, Ruusalepp is also taking action. She is one of the founders of a new hotel currently under construction in Southeastern Estonia. Her message highlights the tension between caution and ambition in small economies. The startup sector’s growth shows the potential of taking calculated risks. Ruusalepp’s own projects demonstrate her commitment to this approach.