Portugal, a hub for the Tech ecosystem

As a key player in the #IberianPeninsula, Portugal holds promise in the European startup scene. If you are looking to generate new opportunities in Portugal, this country is a highly interesting option. Despite of the size of the country, Portugal is becoming a key actor on the European Tech scene, thanks to its qualified technical talent and its innovation ambitions. Additionally, the government policies foster and support the business environment.

At Impact South Europe (powered by Business France) we are eager to highlight the potential opportunities that Portugal represents when it comes to investment and operation expansion; the dynamic and varied ecosystem located in this country is not its unique advantage, since 2015 the skilled workforce pooled has been growing, and its market has been directing itself into technological innovation. This environment is extremely friendly for #startups and #scaleups looking to broad their reach.

Offering promising prospects, supporting economic expansion, and attracting international investors and skilled talent have been the keys to position Portugal as an attractive market for the tech ecosystem, especially on the field of #web3.

In recent years, Portugal has registered an increase of startups and scaleups, which had successfully emerged and raised funds. Last year, more than 800 million euros have been invested in Portuguese startups, 82% of them were in the B2B sector (in 2021, a record investment of 1 417 million euros has been registered). Most of this investment is collected in A and B series, after which companies relocate their headquarters abroad but keep conducting their main operation in its original country.

In fact, between 2017 and 2020, Portugal has been the top European country producing unicorns per average amount invested and in 2021 the Startup Heatmap Europe affirmed that Lisbon is the 4th most attractive city for startups in the continent (global operating companies such as Unbabel , Talkdesk and CASAFARI come from this city). Nevertheless Porto, Braga, Aveiro, Coimbra and Leiria are equally highly attractive cities when it comes to the startup ecosystem.

With its competitive taxation, talented workforce and solid sociopolitical environment, Portugal attracts international investors and companies aiming to expand their operations. Additionally, the Portuguese government is highly supportive towards startup and business development, creating programs such as Startup Portugal in which innovative startups succeed exceptionally. This shows the importance that this country gives to technology and modernization.

International cooperation is equally prioritized by Portugal, which organizes events like #PortugalTech, #StartupLisboa, and the globally recognized #WebSummit.

At Impact Iberia, we help French tech startups that wish to kick-start their business in Spain and Portugal and connect with local C-Levels. We provide knowledge, guidance, and we offer startups the opportunities to introduce themselves in the Portuguese tech ecosystem. Within our acceleration program, the Web Summit is an unmissable event in which our startup delegation is present every year and where, like in our networking which will take place in the French Ambassy, networking opportunities are numerous and promising.

We are always happy to connect and discuss with you. So don’t hesitate to reach us through LinkedIn or look for further information on our website!

Thank you for reading!