Startup Portugal, a non-profit organization aimed at promoting entrepreneurship in the country, played a crucial role in supporting 120 companies at international events this year. Among them, 50 startups were supported through the Business Abroad program, which facilitated the raising of 100 million euros in investments and created over 600 jobs. It is impressive to see how these initiatives not only strengthen the national economy but also position Portuguese startups in global markets.

One of this year's highlights was the participation of a Portuguese delegation of ten startups at the Startup Summit, held from August 14 to 16 in Florianópolis, Brazil. This initiative is part of Startup Portugal's strategy to promote the internationalization of startups, particularly in the South American market, where the growth potential is enormous.

The review of activities in 2024 underscores the success of the Business Abroad program. Since its inception, the program has supported more than 320 startups at international tech events, solidifying Portugal’s presence in relevant markets. In addition to the 50 mentioned startups, another 70 were supported at other international events, such as 4YFN in Barcelona, Web Summit Qatar, Web Summit Rio, Viva Technology in Paris, South Summit in Madrid, and Collision in Toronto. These events are crucial for connecting Portuguese startups with entrepreneurial ecosystems in countries like Spain, France, Brazil, and Canada.

The importance of this support is even more evident when we look at the individual success of these startups. On average, each of the 50 companies supported by Business Abroad has 12 employees and has raised about 2 million euros since its founding. This demonstrates not only the ambition of these companies to expand internationally but also their potential for growth and impact.

Another highlight is Portugal's position in the European innovation landscape. The country ranks among the top 10 most innovative startup hubs in Europe, with six incubators included in the "Europe’s Leading Start-up Hubs" ranking by the Financial Times. Startup Braga and Startup Lisboa/Unicorn Factory are among the top 10, confirming the quality and innovative capacity of Portuguese incubators.

The Financial Times recognition acknowledges the growth and excellence that Unicorn Factory Lisboa and Startup Braga have achieved. In 2024, Startup Lisboa supported over a hundred new early-stage startups, attracting a significant percentage of international startups.

These results not only highlight the success of these initiatives but also increase Portugal's visibility as a hub of innovation and entrepreneurship in Europe. It is inspiring to see how these organizations continue to drive the growth of national startups and open doors to the global market.

As an entrepreneur or startup ecosystem enthusiast, this is an opportunity to reflect on the impact of these initiatives and how we can get more involved in contributing to the sector's growth. Startup Portugal, with its tireless work, shows that the future of Portuguese entrepreneurship is promising and full of opportunities.

Author

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.

Paulo Lopes