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| |  | | | | INVEST IN PORTUGAL | | JULY 2023 | | |
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| | Announcements | | | NPAW opens a Tech Hub in Lisbon
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| JUNE 2023
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Barcelona-based, global SaaS company NPAW, opened a technology hub in Lisbon, Portugal, to design and develop cutting-edge business intelligence solutions for video.
Lisbon was chosen for its geographical proximity and cultural similarity to the headquarters, the ability to attract international talent, the quality of talent in computer engineering programs and the presence of renowned universities. | | |  | | | Signal AI expands global presence with a new office in Lisbon
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| JUNE 2023
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| | |  | | | UK-based Signal AI opened a new office in Lisbon, Portugal, to expand its operations in the EU.
Lisbon was chosen as a vibrant tech hub, with an exceptional blend of infrastructure, talent, a strategic position and business incentives, making it an ideal location for Signal AI.
| | | | | | | Tomarok Engineering opens R&D centre in Portugal
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| JUNE 2023
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Turkish company Tomarok Engineering is opening a new branch in Portugal. Situated in the South of Portugal, within the University of Algarve, in Faro, this new branch will serve as the company’s Research and Development centre, focusing on the future productization of its services.
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| | LightBox TV Lisbon office | | | |
| JUNE 2023
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| | | London-based LightBox TV, a multi-platform media company, opened an office in Lisbon, which will become the company’s product and engineering hub.
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| De Risk International sets up in Portugal
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| JULY 2023
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| | | South-African startup De Risk International, a specialized global provider of Rewards Risk Coverage solutions, is entering the European market through Portugal, with the support of Portugal Ventures, a government-backed venture capital fund.
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| Redslim is opening a new hub in Portugal
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| MAY 2023
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| | | Swiss data analytics expert Redslim is establishing a new development team in Portugal.
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| | | Expansion |
| Prysmian is investing in eco cables in Portugal
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| june 2023
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| | | The Italian group Prysmian, a global player in energy and telecoms cable systems, will increase the competitiveness of its Portuguese factory – General Cable CelCat – by investing 4 million euros in the production of green cables: recyclable and made of recycled materials, safer and with sustainable packaging. The factory employs around two hundred people and generates a turnover of around 200 million euros.
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| NTT DATA opens its 10th Hub in Portugal
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Japanese information technology services company NTT Data established an Insurance Service Hub in Vila Nova de Gaia, Porto region. This is NTT Data’s tenth innovation hub to be created in Portugal in less than two years.
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| freiheit.com technologies expands its Lisbon hub
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| june 2023
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| | | German freiheit.com technologies announced the expansion of its Lisbon Engineering Hub, with the opening of a new office in the heart of Lisbon.
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| | | Industry overview | | | |
According to Business Insider, nearly half of the world’s cork wine stoppers come from Portugal; the country boasts the largest cork oak forest area in the world. Portugal is the world leader not only in cork extraction but also in manufacturing and exporting cork products. Cork is used not only in cork stoppers, but also in a multitude of applications ranging from construction, to the automotive industry, aerospace, sports, fashion, or clothing.
Check the Business Insider video here. | | |
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| | | INCENTIVES |
| NEW INCENTIVE SCHEME FOR JOB CREATION
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| june 2023
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| | | A new Incentive Scheme (“Avançar”), managed by the National Employment Agency (IEFP), supports companies that hire young people with permanent labour contracts under a monthly gross wage of at least 1,330 euros. Hires must be registered as unemployed, aged 35 years or under, and possess a higher education degree.
The employer benefits from: a cash grant (per hire), that varies from €8,647.74 to €4,804.30, depending on the year of submission of the application; along with a 50% reduction of social contributions during the first year of the contract.
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| | | M&A Corner |
| - French e-bike brand Neomouv, via its parent company VAxE, has taken over an 80% share in its Portuguese production partner Unibike.
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- Leading Belgium-based water and energy management solutions specialist Aliaxis acquired Portuguese venture Zypho, “a start-up at the forefront of drain water heat recovery solutions”.
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- German private equity fund Mutares signed an agreement to acquire a 71.7% stake in Portuguese energy, engineering and mobility company Efacec.
Read more
- Pittsburgh-based Everest Infrastructure Partners announced the acquisition of Blue Sites Telco, based in Portugal.
Read more
- Vinci Energies acquired Portuguese technology company Truewind, a leading Low-Code company.
Read more
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| | | INternational press |
| SIFTED: INSIDE NORTHVOLT’S PLAN TO TAP PORTUGUESE WHITE GOLD
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| MAY 2023
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| | | “A slice of scrubland in southern Portugal, a stone’s throw away from the city of Setúbal, could play a central role in Europe’s green transition. It’s where battery maker Northvolt is building its first lithium refinery, to purify and process a metal so critical for EV batteries that it’s dubbed "white gold" by the climate tech world.”
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| DID YOU KNOW
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| PORTUGAL IS #1 IN GREENFIELD FDI PERFORMANCE INDEX IN WESTERN EUROPE
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| June 2023
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| | This year’s edition of fDi Intelligence’s Greenfield FDI Performance Index saw Portugal rise from third to first place in Western Europe and seventh in the world.
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| PORTUGAL, ONE OF THE SAFEST COUNTRIES IN THE WORLD
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| JUNE 2023
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| According to the 2023 Global Peace Index, Portugal is the 7th most peaceful country among 163 nations.
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| VOLKSWAGEN TO PRODUCE HYBRID VEHICLES IN PORTUGAL
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| June 2023
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| Volkswagen's Autoeuropa plant in Setúbal will produce a new hybrid vehicle to replace the currently manufactured T-Roc, starting in 2025, according to General Manager Thomas Hegel Gunther. “The new model will replace the production of the current one. We will modify things in the factory, with new investment.”.
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| |  | | | We are confident Porto is the right choice to build a firm technological base to take Eidosmedia’s growth to the next level. Thanks to the access to a growing pool of technological talent, we see an exciting opportunity for our company’s evolution.
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| Cristiano Meda, CTO at Eidosmedia |
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