When you think of Portugal, what things come to your mind? Several things, certainly. Beach, good food, beautiful landscapes, friendly people, fado, football, Cristiano Ronaldo... And we could count many more things. But our country is not just a paradise due to its beauty. It is also a paradise for startups, as it is a country that promotes technological development. The Web Summit also acted as a gimmick and attracted many entrepreneurs looking to expand their enterprises.
The startup ecosystem in Portugal is growing at a rate twice as fast as the European average. In 2018, it already represented 1.1% of the national Gross Domestic Product (GDP). The volume of foreign investment into the country has also contributed greatly to the growth of the Portuguese technological ecosystem. Our entrepreneurial scenario is viewed as a promising destination for startups by founders and stakeholders in Europe because of talent availability, and greater value for money. Other factors also influence, such as the quality of life, the pleasant climate, the privileged position in the geopolitical landscape, the rich culture, among others. But, what about Portuguese investors? What do Portuguese investors look for in a startup? What are the key points that a startup should have?
Foreigners know how to recognize Portuguese talent, but so do Portuguese. According to our Portugal Startup Outlook 2019 report the majority of Portugal’s Venture Capital financing is sourced from foreign investors (66.8%), however domestic investors play a key role at the earlier stages of financing (contributing 70% of seed financing).