Portugal in the Top 10 at Europe's Leading Start-Up Ranking

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Published on 14 March, 2024 • Last updated on 14 March, 2024

By Portugal Homes

Portugal in the Top 10 at Europe's Leading Start-Up Ranking

Portugal Ranks Among Europe’s Top 10 Most Innovating Start-Ups

In its debut edition, the Financial Times, in collaboration with Statista, a prominent international data and research company, and Sifted, a leading media brand renowned in the European startup community, has unveiled a complete ranking of Europe’s Leading Start-Ups. Portugal shines brightly in this inaugural release, earning six notable mentions, including the impressive achievement of two incubators securing spots in the esteemed Top 10.

What was the methodology used to determine Europe’s Leading Start-Ups?

The Financial Times, Statista, and Sifted first opened an application phase between the 6th of July and the 29th of September, in which incubators and startups were able to submit their candidacy to the Ranking. The three institutions actively pursued hundreds of start-up hubs in Europe, via articles, newsletters, emails, and ads, inviting them to participate. The start-ups had to: have a physical location in Europe, offer an incubation programme, and have been in operation since 2019.

A second stage followed, where several hundred 2019-2022 alumni of each hub were interviewed to give their opinions on the programmes they had participated in. Each of the alumni was asked to evaluate based on the criteria: mentoring & training, infrastructure, legal assistance, business development advice, networking opportunities, and funding opportunities. At the same time, the opinions of investors and entrepreneurs were also sought out, especially from those intimately familiar with the hubs. Finally, the third stage concerned itself with averaging out the scores of the alumni, of the experts, and the track record of each hub.

Which Portuguese Start-Up Hubs Were Distinguished?  

In a universe of 125 ranked start-up hubs, from 19 countries, Portugal makes the list 6 times. Two of them stand in the Top 10.  

  • Startup Braga, at the 7th position, with 80,988 overall points;
  • The Unicorn Factory & Startup Lisboa, at the 10th position, with 80,011 overall points;
  • Building Global Innovators, at the 25th position, with 77,030 overall points;
  • IPN - Instituto Pedro Nunes, Associação para a Inovação e Desenvolvimento em Ciência e Tecnologia, at the 44th position with 75.303 overall points;
  • Casa do Impacto, at the 75th position with 72,162 overall points;
  • Beta-i, at the 124th position with 59.099 overall points;

On the matter at hand, Startup Braga published on their social media that “if we deserve this distinction, it’s because of the work and dedication that the startups in our community deliver daily.”

The Unicorn Factory & Startup Lisboa published that “this recognition as one of Europe's top startup hubs is a testament to the commitment and dedication of Lisbon's entrepreneurial community and Startup Lisboa's incubation impact over the years. With our eyes set on the future, we are determined to continue driving growth and innovation in Lisbon and beyond, empowering entrepreneurs and emerging companies to reach their full potential.”

This international recognition, in its very first edition, has highlighted Portugal 6 times, an unprecedented achievement for the country, revealing how far the country has come and how it is positioning itself to become a global hub for international startups.

What other ways are there to invest in Portugal?

The Financial Times’ latest recognition only emphasises Portugal in the spotlight, which is unsurprising. Portugal has become quite the staple in the international scene. Portugal & Lisbon have been the Web Summit’s home for almost a decade, a worldwide event dedicated to IT technologies, startups, venture capitalism, and other high-technology industries.

But startups are far from the only path to invest in Portugal and obtain a high return on the investment. Though world events like the Web Summit position the country at the vanguard, Portugal continues to make significant strides toward economic improvement. Just recently, in January of 2024, Portugal exited the list of the EU’s most indebted countries, a remarkable achievement revealing the country’s resilience in weathering “storms” and overcoming challenges. Portugal’s enduring economy also aligns with the European Union’s projections and forecasts for 2024 and beyond.

However, obtaining a high financial return is far from the only benefit Portugal brings. Investing in Portugal to obtain Residency & Citizenship is extremely common, as the country hosts a myriad of captivating reasons for expats and investors. Among them is Portugal’s safety, and in 2023, the country ranked 7th in the Global Peace Index, creating the perfect environment for raising a family. With one of Europe’s sunniest weathers, counting over 300 days of sunshine, some of Europe’s best business schools, a premium healthcare system, and the highest standards of life, there is no shortage of reasons to move to Portugal. Even for those simply on the move, letting the wind carry them wherever they may go, Portugal is an ideal choice. Adding to the previous reasons, Portugal has one of the highest internet speeds in Europe, a must for any digital nomad perusing the map to find their next destination.

Portugal Homes has exclusive Office Space Investment Opportunities for Startups

The D2 Visa is the ideal programme to pursue when seeking to establish a startup in Portugal. In fact, the D2 Visa is entirely business-driven, providing the perfect platform to match the creation of a startup in Portugal and getting Residency status in an EU country. This programme caters to non-European citizens seeking Portugal to establish a startup and residency, which is attainable in just 3 months.

Portugal Homes currently offers the best solutions on the market for those wanting to form a startup with Mátria Co-Space, a development project in the Lisbon City Centre that will be fully dedicated to Co-Working. 

Located just streets away from Avenida da Liberdade, Mátria Co-Space will offer the perfect environment for a startup to thrive with a dedicated office space, including luxury amenities, private boardrooms, offices, phone booths, a virtual office, communal workspaces, a coffee shop, a lounge, a terrace, and an exclusive gym with changing rooms. The best part about it is that Mátria Co-Space completely qualifies for the D2 Visa, bringing the best of worlds, enabling Residency and acting as the office space for the next biggest business breakthrough.

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