Source: UK Tech
The Estonian government is launching a legal sandbox for UK startups to test new regulations aimed at removing “bottlenecks” that hamper innovation.
The sandbox – a testing ground for companies supervised by regulatory institutions – will look to identify legal and regulatory obstacles for UK businesses.
“The pace at which technology evolves often outstrips regulatory frameworks, creating a bottleneck for innovation,” said Anett Numa, head of government relations and communication at Accelerate Estonia.
“We eliminate these bottlenecks by implementing these legislative changes with state support, helping entrepreneurs turn challenges into new market opportunities. Estonia’s advanced digital infrastructure allows us to offer a unique proposition – a testbed where companies can thrive without the usual legislative delays, promoting technological innovation at a global scale.”
Businesses selected for the sandbox will participate in a pilot, which can be attended in-person in Estonia or virtually.
Estonia has a strong track record for embracing digital innovation. It became the first fully digitised government, with citizens able to vote and manage medical records online.
In 2017, it became the first European country to formally legalise ride-sharing at a national level. Bolt, Estonia’s answer to Uber, was one of the companies to benefit from these changes. It is now valued at $8.4bn.
Read full article: https://www.uktech.news/news/government-and-policy/estonia-legal-sandbox-uk-startups-20240219
