Portugal exhibits the muscle of its digital entrepreneurship

Startups proliferate in Portugal catapulted by the shock wave generated by the Web Summit, the largest technology summit in the world, which is held in Lisbon every November. It is an effect that is being felt in the digital entrepreneurial fabric of the neighboring country, in the heat of the tax advantages promoted by the Government of Antonio Costa. Thus, according to the data of the Portuguese executive, Portugal already accumulates more than 2,100 startups and no less than seven unicorns (emerging companies that reach a valuation of 1,000 million). The contradictions and delays, in general, are greater in Lusitanian lands, but on this point the socialist cabinet has got its act together quickly. A bet that brings benefits to the other side of the border and makes the Portuguese launch to explore this route as a way out at this time when the digital transition is still underway. The trend extends throughout the Lusitanian geography: from Viana do Castelo, next to Galicia, and the Braga-Oporto axis to Faro, without forgetting Funchal and Ponta Delgada in the Madeira and Azores archipelagos. But, naturally, Lisbon and Porto appear as the key cities, where the largest number of licenses are granted with these characteristics. One of the new companies that stands out as most thriving is Eupago, founded by José Veiga in the great city of the North, the same one that houses the series of wineries that give it world fame. He prefers to define his project on the banks of the Duero River as a 'fintech' (financial technology), rather than as a startup. “Eupago is an institution supervised and authorized by the Bank of Portugal that offers its customers payment solutions. Thanks to our services, all businesses (small or large) have access to payment methods such as Multibanco or Mbway, direct debits that were previously only accessible through banks. We are considered the most innovative payment institution and companies take us into account to improve the offer of their services," Veiga told ABC. First-hand, he relates that the idea of ​​founding his "jewel in the crown" had its roots in 2008, "when we realized that there was interest on the part of the websites in the sense of using electronic payment methods to collect orders" , explains in the prelude to specifying: «We set it up in 2014 in order to fill a real need for e-commerce». From his vantage point, José Veiga points out convinced: «There are those who think that the crisis prompted the birth of companies in Portugal and that this led to an increase in startups. We believe that the explosion goes further, because the Portuguese people are entrepreneurs themselves and like to innovate »,« In addition to helping startups financially, the Government values ​​them as agents of innovation in the business world », he points out. He also underlines that the arrival of the Web Summit in Lisbon has been providential in the leap that Portugal has taken in this field. An appointment that will remain in the Parque das Naçoes until 2028, at least. Your priority? Well, of course, opening up to the Spanish market and taking advantage of the fact that "the future clearly belongs to startups," he argues. We then click on the experience of Fernando Jardim , linked to 351 (as the Portuguese telephone prefix), a platform that aims to help those who found a startup to grow their business, as well as to "promote the development of the Portuguese ecosystem of innovation". Today it is the largest community of startups in the neighboring country, with more than 1,100 members. Dependent on the organizational chart of the Lisbon City Council and its technological branch, 351 was born in 2019 due to "the lack of an environment where the different actors could connect, exchange the essence of their plans, do business or launch joint programs" . The accredited expert affirms that much remains to be done: increase investment, decentralize access to entrepreneurial education beyond Lisbon and Porto, make legislation more flexible... For her part, Francisca Gigante is co-founder of FITA-Amigos del Arte, at side of Francisco Teles da Gama, who acts as director of the initiative. «We help talented professionals who are looking for new opportunities in the cultural universe on a daily basis. Our mission is to facilitate contact with artistic institutions around the world”, says this woman attentive to the possibilities of the 21st century. The focus on Lisbon The dizzying pace of startups in Portugal joins the commitment made by several Silicon Valley bastions, until now seduced by the facilities offered by Dublin, but today they turn their eyes towards Lisbon more and more, around the ship insignia embodied by the Web Summit. The leading edge corresponds to the multinational Google, which announced the opening of an operating center that will offer 1,300 jobs directly or indirectly. But, above all, the technological sensitivity and the vision of the future of the Portuguese Government have marked differences with Spain. To encourage this kind of employment, the Costa Executive created an initial fund of 300 million euros, with a view to promoting Lusitanian startups. There can be no talk of a direct war between Spain and Portugal to attract neither technological employment nor the rain of companies that operate on the Internet. But it is clear that the entrepreneurial character distinguishes Costa's cabinet from that of Pedro Sánchez, and has been especially demonstrated in the measures to attract talent. An example was the entry into force of the so-called Tech Visa to "facilitate the entry of qualified workers who want to work in the digital and technological areas." This is a special residence visa for citizens of other nationalities who decide to settle in Portugal, according to the Ministry of Internal Administration. This being the case, it is not surprising that all these measures have materialized with special intensity in Funchal and in the towns that surround it on the island of Madeira.

Source link