Enterprise Estonia is administering the scheme that will reimburse up to 70% of the cost of conferences that meet certain criteria.
Qualifying events must be of an international nature, raise the profile of Estonia as a destination, be at least three days in duration, include at least 300 overnight stays, and include a sightseeing element.
Only not for profit events are eligible for the scheme and funding applications will be accepted from 21 December. The deadline for this round of applications is 4 January 2010.
Estonian Tourist Board director Tarmo Mutso said the scheme was designed to promote Estonia as a conference destination.
"The more professionally organised events are, the more attractive they are and that means they will attract more delegates, higher hotel occupancy and more benefits for the local economy," said Mutso.
The programme is funded by the European Regional Development Fund and will continue until 2011.