Camila Dantas
Title: The role of Wise in developing the startup community and local innovation ecosystem
Supervisor: Dr. Margit Kirs
Opponent: Dr. Egert Juuse
Defense: 9 June 2025
Abstract: This thesis investigates the impact of Wise, a globally recognized fintech business formed in Estonia, on shaping and promoting the local startup culture and innovation ecosystem. Drawing on the theoretical foundations of Innovation Ecosystem Theory, Anchor Organization Theory, and Social Capital Theory, the study investigates Wise's role as a catalytic actor - supporting information flows, encouraging entrepreneurial agency, and contributing to growth in the local innovation system. The findings, which are based on a qualitative study approach that combines document analysis and semi-structured interviews with former Wise workers and ecosystem institutions, show that Wise has had a major impact on talent development, technological innovation, and new venture formation. However, the company's contributions are generally informal, personality-driven, and lack institutionalization, raising questions about long-term ecosystem resilience and inclusiveness. The thesis concludes by advocating for more formalized engagement channels, expanded alumni networks, and proactive ecosystem governance to fully realize Wise's potential as an anchor organization and enable broader, more equitable wealth creation in Estonia's innovation landscape.
Keywords: Wise; innovation ecosystem; anchor organization; social capital; startup community; Estonia; entrepreneurial agency; FinTech; mentorship; knowledge spillovers
