Expanding a business to Portugal presents a unique opportunity for growth and innovation, supported by a favorable fiscal environment, a dynamic innovation ecosystem, and government incentives aimed at research and development (R&D). With its strategic location bridging Europe, Africa, and the Americas, Portugal is becoming an increasingly attractive destination for  both established businesses and startups looking to expand their footprint in the global market.

Portugal is home to a vibrant innovation ecosystem that fosters collaboration between businesses, universities, and research institutions. Cities like Lisbon and Porto are becoming hubs for tech startups and innovation-driven enterprises, supported by a strong network of incubators, accelerators, and venture capital firms. This ecosystem is further enhanced by Portugal’s highly educated workforce, with a strong emphasis on science, technology, engineering, and mathematics (STEM) education. The presence of leading universities and research centers provides businesses with access to cutting-edge knowledge and a talent pool that can drive innovation and growth. Furthermore, around 60% of the population speaks a second language, which becomes an advantage for multinational companies to establish themselves in the country.

In addition to the thriving innovation ecosystem, the Portuguese government offers substantial R&D grants and incentives to encourage businesses from different sectors to invest in research and development activities. These incentives include tax credits for R&D expenditures, grants for collaborative projects (Portugal 2030 & PRR), and support for innovation clusters. By expanding to Portugal, businesses can leverage these financial incentives to reduce their R&D costs and accelerate the development of new products and services. The government’s commitment to supporting innovation is a key factor that can help businesses maintain a competitive edge in the global market.

Portugal’s reputation as a global tech hub is further solidified by its hosting of the Web Summit, one of the world’s largest technology conferences. The event attracts +70k  entrepreneurs, investors, and industry leaders from around the globe, providing unparalleled networking opportunities and exposure to the latest trends in technology and innovation. This year, the conference will happen on November 11-14th, aiming to answer what the future holds at a moment of great uncertainty for many industries.

Since developing a business in Portugal offers a distinct chance for advancement and creativity, sustained the vibrant innovation network, and government encouragement, in November WTC Lisbon will gather global entrepreneurs and executives, so they can visit the Portuguese business ecosystem, and take part in Web Summit, a testament to Portugal’s growing influence in the global tech landscape. We invite the WTCA network to join us in this business trade mission, with a customized agenda for each group. Reach out and know more: luciano@wtclisboa.com.