“Porto quickly became an extremely attractive city to live in and invest. I believe that what really makes a difference are the people, the fact that the city is welcoming and that everything is close, the sea, the river and the best of the Portuguese cuisine. I have great admiration and pride for the city and a deep belief in its future.”
José Neves, Founder & CEO Farfetch
“Porto is a seaside city with a river and very good connections to all European capitals. It also has one of the best universities in Europe. There is a lot of talent that can be found here. The Porto inhabitant himself has these entrepreneurship and hardworking characteristics, thus creating the fundamental characteristics to start businesses.”
Pedro Fortuna, Co-Founder and CTO at Jscrambler
“Porto has all the key elements (…). In a very close radius, we have a lot of good universities, easy access to all the international hubs, but also a very good quality of life. I believe this mix makes Porto an excellent hub to grow.”
Felipe Costa, Co-Founder and CEO at Infraspeak
+2.4k startup jobs
+50 incubators and workspaces
Startup and scaleup job creation rate above the national average
+30 tech communities
28% of startup ecosystem’s annual growth rate of turnover
3rd fastest growing tech hub in Europe (Atomico, 2018)
“The Best Start-up Friendly City of Europe” in 2018
+70 R&D Centers
University of Porto in TOP 50 in Information Management (QS World University Rankings By Subject 2021)
170k students enrolled in higher education institutions in Porto’s Macro-Region
As one of the major urban areas in Southern Europe, Porto has gone through a remarkable development in the ecosystem, being a dynamic birthplace of many startups. The connection between knowledge, an active entrepreneurial community, private and public partners, and the support of the Municipality, make the city a vibrant and competitive hub.
Porto offers a reliable environment for your business with social, political, and economic stability, and a capable public administration.
With an interdisciplinary approach, the city’s well-known strengths are aligned with the excellence of the work developed by the academia. With the support of reference industry partners, hundreds of qualified jobs were created and the city is becoming a place where people, especially young entrepreneurs, are inspired by a new risk culture and integrated into a new multicultural and international ecosystem.
A safe and sunny city, with a rich culture and heritage, that provides high quality of health services, international schools, excellent flight connectivity, a booming tech-driven economy and a stimulating R&D environment.
Land & Start
SETTLING IN THE CITY
STARTING YOUR BUSINESS
Setting up your Company
Foreign residents starting a business in Portugal need to have these necessary documents:
- Portuguese residency card (non-EU citizens)
- A tax number from the Portuguese tax office 8even if non-resident)
- A Social Security number from the Portuguese Social Security
You can learn more by visiting ScaleUp Porto’s Toolkit for Startup Investment, where all the process is explained in detail from page 53 to 61.
Access to capital
|Advice about Capital||Major VCs and BAs|
|There are a lot of Venture Capital Firms and Business Angels in Portugal, and some specifically headquartered in Porto. Besides the possibility of connecting with local and national investors, Porto also provides the chance to meet international investors.|
Diversity and Inclusion
Porto in the media
Barkyn CEO wins João Vasconcelos award
Andre Jordão, Barkyn’s founder and CEO, won the second edition of the João Vasconcelos award, which distinguishes the best Portuguese entrepreneur of the last year. Read everything here.
Didimo receives investment of 1 million euros
Didimo, the startup that creates digital humans, closed a new investment round of 1 million euros. The funding will be used to increase and consolidate the team. You can read the full article right here.
Noocity at the forefront in combating climate change
Noocity, a startup from Porto focused on creating smart urban gardens, is on the list of companies with more innovative solutions to face the negative impact of climate change. The full details are in this blog’s article.
iLoF among the 150 most promising startups in the world
Intelligent Lab on Fiber, a spin-off from the University of Porto, was considered one of the 150 most promising startups in the world in the field of digital health. Find out everything here.
EVERYTHING YOU NEED TO KNOW ABOUT THE CITY
More about Porto
- 33% growth in number of companies established (2016 to 2018)
- Gross fixed capital formation 2018 in Porto >3.6 billion euros (+20% compared to 2017)
- Apparent labour productivity 5% higher than national reference (2018)
- 12th country in Europe in quality of scientific research institutions
- 27% of the population with higher education degree