Starting a company? Here’s why you should do it at Demium Lisbon

While Lisbon’s emergence as a startup hub is fairly recent,there’s no doubt that the City of Seven Hills is fast becoming Europe’s answerto Silicon Valley. According to the 2018 EU Startup Monitor report, thePortuguese capital now ranks fifth – after London, Berlin, Paris and Copenhagen– as Europe’s biggest startup hub. So what is it about this city that makes it soattractive to startups?

For starters, it’s Portugal’s largest city, with apopulation of over 500,000 producing half the country’s GDP. Plus, to quote BenLambert, Deimum’s Lisbon MD, it is simply:

“More humble than San Fran.
More accessible than Tel Aviv.
Warmer than Berlin.
Cheaper than London.”

And he’s not wrong. Thanks to the Mediterranean climate,Lisbon is sunny practically every day of the year, so you can easily takeadvantage of the many great beaches and green spaces. It’s also convenient (andtherefore affordable) to get about on foot, by bike or public transport and youcan take in the historic Pombaline architecture that Portugal is renowned forwhile you’re en route.

There’s a wealth of things to do when you get some downtime, such as visiting the sleek new MAAT: Museum of Art, Architecture andTechnology, or indulging in the city’s specialties: fresh seafood, pastéis denata (those irresistible custard tarts) and port. And we’d be remiss if wedidn’t also mention that Traveler magazine voted Lisbon fourth safest city inthe world.

That’s not to say it’s perfect. Just like the rest of theworld, Lisbon suffered during the economic crisis in 2008, but the Portuguesegovernment has been working hard to bounce back and it’s paid off. They’ve beenpromoting entrepreneurship and improving opportunities for locals andbusinesses alike, with benefits including tax exemptions, low set-up costs fornew companies, and financial help from the government for startups andindividual entrepreneurs.

Now, talent and venture capital are quickly pouring into Lisbon, with many Portuguese natives returning to take advantage, as well as foreigners choosing to make their home there. And with a number of top universities that focus on high tech skills, producing a large number of engineers per capita, many graduates are choosing to stay in Portugal, rather than heading abroad to other tech or startup hubs. In 2018 Portuguese startups raised over €485 million, as reported by Re-Think, with the volume of venture capital transactions 4.4 times bigger than they were in 2017.

Lisbon’s emergence as a tech and digital centre wasconsolidated with the move of the Web Summit from Dublin to Portugal’s capitalin 2016. Considered the world’s biggest tech event, it attracts over 70,000people annually, from Fortune 500 companies to venture capitalists andstartups. Lisbon was initially only contracted to host for three years, but thathas now been extended to 10, and revenue generated from the conference over theperiod is projected to be $3.5 billion.

Now if that’s not enough to convince you, perhaps the fact that the international market is readily accessible will. The Lisbon Investment Summit, which takes place every year in June, provides homegrown startups with the opportunity to pitch to international venture firms, which are essential to growing any business. Add to that a population of which 90% speak English, making it easier to raise investment funds in the earliest phase of development, and various corporate giants are branching out here (Google and Daimler among them) and you’ve got one very prosperous startup ecosystem.

So far in 2019, our Lisbon incubator has invited over 50aspiring entrepreneurs into our startup programme, and over 20 startup projectsare being developed. If you are interested in finding out more about our nextintake, please don’t hesitate to get in touch, or simply submit yourapplication via our website.