It is interesting to note that Portugal’s government is moving more into co-investing and investment models where government and EU funds are invested in innovative businesses, as well as partaking in innovative business actions by way of subsidies/ soft-loans.
Since my appointment onto the Executive Committee of Portugal IN, I have had the pleasure to learn of “200m”, the latest government initiative committing €200 million to co-invest with Venture Capital funds. The fund aims to attract VCs from all over the world providing the flexibility of not having to set up an office in Portugal.
The co-investment will be achieved on a deal-by-deal basis investing in start-ups in Portugal – the requirement being that it has to be in start-ups that pay VAT in Portugal.
The 200M scheme has been announced by Prime Minister António Costa with the objective of attracting investors to Portugal to help Portuguese start-ups become more global. Combining another €200 million investment from VC investors, the €400 million investment in the Portuguese start-up sector will be carried out over the next 2 years. I heard Trade and Industry Secretary, João Vasconcelos mention at the latest Lisbon Investment Summit (#LIS) that any exit of the government’s investment in the start-up, when required, will be an uncomplicated process. The growth of entities such as government VC, Portugal Ventures, Lisbon incubator- Startup Lisboa and accelerator Beta I have spearheaded the growth of the entrepreneurial ecosystem in Portugal. Startup growth has been encouraged in the last years in cities like Lisbon, Porto and Braga and beyond.
There is no doubt that the recent move of the “Davos for Geeks” event Web Summit from Dublin to Lisbon has helped bring even more attention to the tech start-up scene in Portugal. The intention is that Web Summit 2017 in November will host the opening of applications for the 200m fund.
Portuguese tech entrepreneurs have caught the attention of foreign investors, who have already helped high-growth startups like Farfetch, Feedzai, Talkdesk, Veniam, Uniplaces and Unbabel grow global. I am personally proud that Nuno Sebastião of Feedzai (a start-up from Portugal that was taken to the San Francisco Bay area) recently won the “Accomplished Entrepreneur Award” from my alma mater, the London Business School. Congratulations to Nuno Sebastião and to Feedzai.
May this winning streak for Portuguese start-ups continue and “Viva Portugal”!
I am an entrepreneur with 16 years of experience in the real-estate and hotel industries in Portugal – my husband and I built up the Martinhal Family Hotel & Resorts brand up from scratch in Portugal. I am also a member of the Executive Committee of Portugal IN – a recently formed task force to attract more FDI into Portugal, especially in the wake of Brexit. Member of the following Chambers of Commerce: British Portuguese Chamber of Commerce , Swiss Chamber of Commerce and Industry in Portugal, Dutch Portuguese Chamber of Commerce
General enquiries for Portugal IN: email@example.com
Passionate Entrepreneur, Real-estate and hotel developer, Startups, FDI into Portugal