As we look toward the next five years, our direction is clear. Estonian Business School must place even greater emphasis on impact and internationalization.
Internationalisation means welcoming more international students to Estonia, sending more of our own students abroad, engaging in deeper research cooperation with partners around the world, and encouraging the creation of companies that operate internationally from the very first day. These efforts strengthen personal development, support business growth, and contribute to the progress of Estonian society as a whole.
Estonia is a small country, which means that our prosperity depends on our position in the international division of labour. In recent years our economic growth has been essentially absent. Renewed growth requires smart choices and a solid understanding of where new opportunities lie. Basic economics tells us that at early stages of development opportunities for growth are easy to identify. As societies advance, new growth requires more deliberate and wiser decisions. The number of good decision makers is not fixed. All of us can improve, and all of us have a role in shaping the future.
Growth must also be accompanied by responsibility. For us this responsibility is defined by the societal value we create, and that value requires focus. Entrepreneurship demands focus. Let’s use the example of the Wright brothers, who advanced through careful experimentation in order to build the first functioning aeroplane. Their approach contrasts with that of a scientist who begins with a theory and only later tests it in practice.
As a private university we also must stay focused on what matters most. Focus delivers results. Results create impact. This is especially important for a university dedicated to management and entrepreneurship. The same principle would benefit other Estonian universities as well. We all operate in a global setting where we should complement each other and work together for the benefit of the country.
Our efforts are already producing results. Estonian Business School has earned the prestigious 5 Palmes of Excellence designation and has become the first institution in Estonia to receive the EFMD five-year accreditation for our bachelor programme. These distinctions reflect our emphasis on teaching quality and on strengthening research and development.
Over the past year we have broadened our global engagement. Our cooperation through Interreg and Horizon supports both research and new venture creation. Our accelerators have received international recognition. We have also expanded short study programs with partners in Europe and North America, with several universities in Switzerland and Germany integrating our programs into their own programs.
We have upheld quality in an environment marked by what many call a continuous permacrisis, including the aftereffects of Covid, the full-scale war in Ukraine, economic slowdown, high inflation, and education policies in Estonia that disadvantage private institutions.
Recently I wrote in Poets&Quants, a leading publication with more than two million readers worldwide, about why institutional diversity matters for the competitiveness of higher education as well as for society (For Estonian readers there is an interview in Kuku Radio and article in ERR)
Here our alumni can help by explaining why a diverse university ecosystem is vital to Estonian competitiveness. I look forward to working with all of you as we continue to build impact, international reach, and a stronger future for Estonia.