Entrepreneur Ruusalep: Those Who Don't Take Risks Drink "Kelluke"

Entrepreneur Kaidi Ruusalep said on Vikerradio that Estonian society and entrepreneurs must take bolder risks and think big, otherwise Estonia will always remain in someone's shadow. She cited the success of Estonia's startup sector, whose revenue reached €10 billion last year.

Co-founder and entrepreneur Kaidi Ruusalep believes that risk aversion is one of the biggest obstacles to Estonia's development. In an interview on Vikerradio on Friday, she emphasized that in a small country, one must dare to think big.

"There are two points here. First, business is inherently linked to risk. Entrepreneurs take risks, but these must naturally be calculated. There's a saying: those who don't take risks don't drink champagne. But I say it differently: those who don't take risks drink 'Kelluke'. I wouldn't want Estonian society and Estonian entrepreneurs to reach the point where we constantly drink 'Kelluke' because we don't dare to take risks. In such a small country, we must dare to think big," Ruusalep said on Vikerradio.

The startup sector proves the value of big thinking

Ruusalep shared that she has worked in the Estonian startup sector for fifteen years and has witnessed its growth firsthand. She recalled that when the sector became more seriously on the agenda around 2005-2006, following the sale of Skype, which brought Estonia its first significant capital, there was plenty of skepticism.

Now the numbers speak for themselves: last year, the combined revenue of Estonian startup companies reached €10 billion, growing by 20 percent compared to the previous year. "These companies thought truly big and weren't afraid to take risks; they didn't limit themselves to just 'Kelluke'. We too should take bolder risks and think more broadly, otherwise we'll remain in someone's shadow," she added.

Warning against risk aversion

The entrepreneur's message is clear: if Estonia wants to remain internationally competitive, fear of failure must not become a brake. Ruusalep sees risk aversion as a systemic threat that could slow both the creation of new businesses and the growth of existing ones.