Portugal's startup ecosystem sees continued growth

That's according to a new report from AICEP.

More than 80% of the sector's exports came from technology and knowledge-intensive services, which points to a strong concentration in higher value-added activity.

The ecosystem has changed considerably in recent years. It began with a focus on digital and software services, and has since moved towards more technology-intensive areas including fintech, healthtech, artificial intelligence, space tech, mobility, energy and sustainability.

International reach is a defining feature. More than half of these companies have significant international operations, and many adopt an internationalisation strategy from the outset.

Several factors have driven the shift. The consolidation of incubators and accelerators, the growth of venture capital, Portugal's emergence as an entrepreneurial destination and its growing ability to attract talent and investment have all contributed.

The quality of talent, a strong engineering base and digital skills underpin the sector's international performance. Portuguese-founded companies with a global presence, including unicorns, have also raised the country's profile abroad.

The ecosystem still faces challenges. These include scaling up companies, securing funding at the growth stage, retaining highly qualified talent and keeping pace with growing global competition in areas such as artificial intelligence and deep tech.

Paul Stannard, chairman and founder of Portugal Pathways and the Portugal Investment Owners Club, said:

"These figures show a startup scene that looks outward from day one. For founders and digital entrepreneurs weighing up where to base themselves, the size of the ecosystem and its export focus are worth understanding."

For founders and digital entrepreneurs considering Portugal as a base, Portugal Pathways can connect you with the regulated professionals who can explain the options.

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About Portugal Pathways

‍‍Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on estate planning, wealth management, Golden Visa and tax optimisation, including post-NHR / IFICI tax regime planning, as well as private healthcare, money transfers and bespoke relocation and luxury real estate solutions to enhance life and investment in Portugal

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