A Happy Union: Tech Start-ups and Portugal
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Loading... - Guilherme Araujo
- 07 Apr 2023
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San Francisco, Austin, Berlin, Tel-Aviv and now Lisbon. Cities associated with Venture Capital, tech start-ups and digital nomads.
This ecosystem in Portugal is at an earlier stage than others, but no less exciting and increasingly on the lips of international investors. There is an increasing draw to the innovative locals, opportunities the country can provide and the lifestyle accompanying it.
Besides a strategic location connecting Europe, Africa and, to an extent, Latin America, Portugal offers great talent coming out of a conveyor belt of tech focussed universities. Unsurprisingly, it is a value proposition for companies looking to expand particularly into Europe or scale up. Areas where Portugal is seen as particularly strong would be the automotive, aeronautics, food, information technology, and life sciences industries. All sectors of activity that have the greatest potential to attract FDI.
When companies like Cloudflare, Bose, and Google establish tech hubs in a country, it is a positive sign that the quality of available talent is high as it is an essential criterion for such a decision. Portugal has the second highest rate of graduating engineers out of premier jurisdictions in the EU with other equally talented non-Portuguese engineers looking to call Portugal home due to tax incentives, security, and lifestyle. Cloudflare, for example, considered 45 cities from 29 countries when selecting where to base their EU tech hub. Choosing Portugal is thus a strong indictment of the country’s quality and great potential to become the next great tech spots. Read More…
