The super final of Estonia’s largest business idea competition Ajujaht was won by Complok, which offers a simple way for financial institutions to conduct mandatory anti-money laundering training.
This year’s finalists were Complok, Steelmonitor and Crump. The winner received a prize of 30,000 euros. The prize for second and third place was 15,000 and 7,000 euros, respectively. The winner of this year’s Ajujaht is Complok, which provides anti-money laundering training. According to Maarja-Liisa Soe, co-founder of the company, reaching the finals was already a big victory for them.
„In retrospect, we can say that Ajujaht has grown our mentality and ambition in such a way that we have gone from a traditional business model to a start-up company that is ready for globaal scaling,“ explained Soe.
„The Complok team has the perfect recipe for a startup: huge internal ambition, a real problem and expertise to solve it,“ praised jury member and head of Startup Estonia Eve Peeterson. „It was a pleasure to see how they took the advice of their mentors and made a huge leap in development during these months,“ added Peeterson.
“Complok knew quite precisely what kind of regulatory tsunami has hit the financial sector, and if they now show even more clearly how they intend to enable savings for the players of the very cost-conscious financial sector, I believe that they can have a very nice future ahead of them in their niche,” thought SEB private banking strategist Peeter Koppel.
According to Mailiis Ploomanni, head of Elisa Estonia’s private client unit and board member, there are usually two options for mandatory training. In the first case, the minimum required is done, and the competence of the employees is shown by simply ticking the boxes in the company’s systems. In the second case, a lot of time and resources are invested in the employee’s competencies, with the aim of actually ensuring the acquisition of knowledge.
“Although most companies would prefer the second option, using today’s tools, it is often impossible in practical life. Complok has been able to identify an ideal middle ground – an effective and resource-saving routine that is skilfully prepared and based on modern principles of andragogy,” stated Ploomann. She added that many MOOC-type university courses have proven that an adult is also able to acquire knowledge in the digital world with the right techniques. Complok will definitely be another successful example of this.
Tanel Erm, CEO of Microsoft Estonia, said that Complok is a sincere and enthusiastic team that has managed to create a product that is necessary and valuable in today’s highly regulated financial world. „I keep on cheering for the new winners,” added Erm.
Steelmonitor was awarded the second place of Ajujaht with 15,000 euros. The third place with 7,500 euros went to Crump. Filaret, a company which processes smoke cone waste into raw material for 3D printing, received a special award from the city of Tallinn. The special award of the city of Tartu was given to Tuker, whose application helps to improve service quality. Complok, which won first place, also received free office space for a whole year from the Kaamos Group and 2,000 euros worth of legal assistance from the law firm TRINITI.
The program, which takes place until the end of the year and was initiated by the joint enterprise of Enterprise Estonia and KredEx, stands on long-time experience and has been created to support the fast growth of start-ups.
Close to 5,000 business ideas have been submitted to Ajujaht throughout the years, and multiple local and international success stories have taken off through the government department program. Among the most known alumni are, example, Bolt, Bikeep, Click & Grow, GoWorkaBit, FoodDocs, Groveneer, Timbeter, and many others.
Author of the press release: Ajujaht