Porto startups reach over 6.4 billion euros in associated value
Porto's startups reached more than 6.4 billion euros (6.9 billion dollars) in ecosystem value between July 1, 2021 and December 31, 2023. The information is contained in Startup Genome's Global Startup Ecosystem Report (GSER) 2024, launched today at London Tech Week. The result gives the city of Porto direct entry into the Top 100 Emerging Ecosystems.
11 Jun 2024
The figures
now revealed represent an annual growth of 53% in the value of Porto's
technological ecosystem, compared to the period from July 1, 2019 to December
31, 2021. In view of the significant growth in this measure of economic impact
(calculated through the value of exits and startup valuations), the city of
Porto has climbed more than 30 places and has earned a place in the Top 100
Emerging Ecosystems for the first time. This rise "highlights Porto's
remarkable progress over the last year”, underlines the press release from
Startup Genome, which involved the Global Entrepreneurship Network in the
ranking.
For the
Councillor for the Economy, Employment and Entrepreneurship, Ricardo Valente,
the evaluation supports the work carried out by the Municipality in this area.
"Porto is establishing itself as one of Europe's main entrepreneurship
hubs, with a booming startup ecosystem. This success is the result of the
city's commitment to creating a favorable environment for startups to thrive,
but above all of the talent and dedication of our entrepreneurs,”.
These words are corroborated by the co-founder and
president of Startup Genome, Marc Penzel. "With a large pool of tech talent and
an extensive pipeline of early-stage startups, the value of Porto's startup
ecosystem has grown by an impressive 53%, making it one of the fastest-growing
ecosystems not only in Portugal, but also in Europe,”.
With regard
to the ability of startups to hire technological talent, the Global Startup
Ecosystem Report (GSER) 2024 also reinforces Porto's good position, placing it
among the 35 best European ecosystems in terms of accessible talent.
The value of Porto's startup ecosystem has grown by an impressive 53%. GSER is
developed from data on startup ecosystems around the world, collected through a
rigorous quality control process, with information from more than 4.5 million
companies in more than 300 innovation ecosystems. The report shows trends in
the start-up world and has three rankings: "the top 40 global ecosystems”,
"emerging ecosystems” and a "regional ranking”.
GSER is developed from data on startup ecosystems around the world, collected through a rigorous quality control process, with information from more than 4.5 million companies in more than 300 innovation ecosystems. The report shows trends in the start-up world and has three rankings: "the top 40 global ecosystems”, "emerging ecosystems” and a "regional ranking”.
Read the
full report here
