The report was just released at the Gala Scaleup Portugal, where the prizes of the best startups in Portugal were revealed, including a People’s Choice, a choice of the community. The analysis covered the last five years and the performance of companies, highlighting the 25 Portuguese statups that stood out the most.
The names were published at the beginning of November, opening the possibility to vote for the People’s Choice category, which was revealed at the Gala that took place this morning online.
The names of startups that stood out in the last five years are familiar because they have been featured frequently in the news, and also in SAPO TEK, since they are technology-based companies. The elite group includes Advertio, AgroInsider, AirCourts, Barkyn, Compara Já.pt, Dashdash, Didimo, EatTasty, Findster, Forall Phones, Gowithflow, Huub, Hypelabs, Infraspeak, IPortWine, LOQR, Magnifinance, Ophiomics, Platforme, Sword Health , TonicApp, Trigger Systems, Undandy, UTrust and Valispace.
The fourth BGI report now shows that these 25 startups have already managed to raise 117 million euros, and generated 113 million euros, between 2015 and 2020, a balance was highlighted by Sofia Fernandes and Otito Dosumu in the presentation of the study during the gala, referring that companies are more independent.
See the summary of the main indicators of Scaleup Portugal 2020
In the companies’ profile, it is easy to see that national investors play a fundamental role in launching startups, but there is also a significant participation of international founders, which supports the idea that Portugal continues to be a pole of attraction for entrepreneurs.
The United States continues to lead in foreign investments (58.6%) to Portugal and in the study it is reported that the ecosystem is maturing, depending less on non-diluting financing products and having access to financing rounds beyond series A.
Among the various verticals identified, Information and Communication Technologies (ICT) leads in terms of attracting investments, with more than 100 million euros, generating 50% of revenues and creating 47.6% of jobs.
It should also be noted that Portuguese founders are highly qualified and qualified, but most have no previous experience in the creation and management of startups, and that there is still a significant gender gap, with 90.3% men and only 9.7 % of women among the founders.
Despite recognizing that the Scaleup Portugal report is a micro-analysis and a snapshot of the entrepreneurship ecosystem, BGI says, in conclusion, that it echoes the feelings shared by participants and that it has similarities with the broader analysis of the Portugal Startup Outlook 2020 report.
“We see an increase in contributions from domestic investors in general, and a shift to investments at later stages,” the report said. This has consequences such as a greater difficulty in getting ahead in the initial stage of a startup.
As an opportunity, the report refers to the possibility of connecting to the world of companies, which can contribute to initial financing and a testing ground for ideas, in a solution that brings gains for both parties. Incubators are referred to as actors who can also make an important contribution and that their connection to universities can channel resources and knowledge that can help to narrow the gender gap and increase investments in the initial phase.
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