Portugal has one of the most vibrant entrepreneurial ecosystems in Europe and is one of the countries with the most open policies towards international investment. The startup ecosystem is very dynamic, with many innovative companies in various sectors such as Fintech, Tourism, Renewable Energy, and Agri-tech.
This 963 km Atlantic coast country is home to several unicorns and many more up-and-coming startup and scaleups. There are more than 4.000 active startup in Portugal (2023) with 25.000 employees.
Portugal's startup ecosystem has experienced significant growth and development in recent years, fuelled by government support, entrepreneurial talent, and a vibrant tech community. Lisbon, the capital city, has emerged as a focal point for startup activity, drawing in talent from across the country and worldwide. The city boasts a range of co-working spaces, incubators, and accelerators that provide crucial support and resources for budding entrepreneurs.
One of the key factors driving Portugal's startup scene is its supportive regulatory environment and investment incentives. The government has implemented various initiatives to promote entrepreneurship and innovation, including startup tax breaks, simplified bureaucratic procedures, and funding programs like the ones from Portugal Ventures. Additionally, Portugal's membership in the European Union provides access to a larger market and funding opportunities through EU programs like Horizon Europe.
Lisbon's proximity to other European tech hubs and its affordable cost of living compared to cities like London or Berlin has made it an attractive destination for both founders and investors. Furthermore, initiatives like Web Summit, one of the largest tech conferences in the world, regularly bring global attention to Portugal's burgeoning startup scene, fostering networking opportunities and collaborations on an international scale. Overall, Portugal's startup ecosystem continues to thrive, poised for further growth and innovation in the future.
