Eric Schmidt, known for his tenure as Google's CEO, is diving into the drone industry with his latest venture, White Stork, as Forbes reports. This startup, named after Ukraine’s national symbol, is firmly linked to Estonia.
Inaugurated last August, White Stork has established its European operations through an Estonian entity, Volya Robotics OÜ, set up last December. A legal director from Schmidt’s Hillspire family office is on its board. Estonia's business-friendly environment is a key attraction, according to Forbes.
Estonia boasts exceptional business infrastructure, including rapid online company registration and an enviable tax code within the OECD, featuring 0% corporate income tax on retained and reinvested earnings. These conditions are ideal for startups, reducing costs and tax liabilities. The Estonian e-Residency program has attracted over 100,000 entrepreneurs, enabling global business operations under Estonian law.
Schmidt's Drone Interest: Tactical and Philanthropic
Since Russia's 2022 invasion of Ukraine, Schmidt has visited Ukraine multiple times, highlighting the strategic role of kamikaze or “suicide” drones. As he noted in a Wall Street Journal op-ed, these cost-effective drones can be crucial in disabling or destroying targets on the battlefield.
Schmidt points out the effectiveness of these drones when operated by skilled personnel, citing their agility and speed. His Ukraine visits have included meetings with top leaders and bringing influential figures like Sebastian Thrun, a White Stork advisor and former Google colleague, Mark Stonich, Google’s ex-vice president of supply chain, and Damon Vander Lind, from Thrun's Kitty Hawk air-taxi startup.
Estonia's Growing MilTech Sector
Estonia is rapidly advancing in the MilTech sector, including drones, which Schmidt is now exploring. The country recently witnessed its largest defence investment through Milrem Robotics and hosts Estonian DefenceTech, showcasing cutting-edge defence and security technologies.
Drone technology is a significant focus in Estonia. Companies like Marduk are developing advanced anti-drone systems like the Marduk Shark, employing AI and machine learning for drone detection and neutralization.
Additionally, TrackDeep, established in 2021 by experts with backgrounds in drone surveillance, IT, and military, is advancing AI-based tracking systems for security applications. Their technology aims to enhance battlefield safety, reducing friendly-fire incidents among other benefits.