Xelerate.tech Expands Operations in Porto
The business accelerator Xelerate.tech will hire more than 60 engineers by the end of the year. The company continues to strengthen its operations in Porto and attract talent to its projects in the city.
Xelerate.tech plans to hire 60 more software engineers for its operations in Porto by the end of the year. These professionals will be integrated into two joint ventures: Xelerate Markant Portugal, specializing in the development of B2B digital cloud platforms, and Advanced Xelerate Tech, which develops SAP products.
The growth of this accelerator, which in February partnered with Markant Service to create Xelerate Markant Services International Portugal, will also necessitate a change of premises.
Besides Markant Services, the accelerator has already helped companies like AVL Software and Functions, Advanced Application, and ISS World Services establish themselves in Porto. The investment by these companies amounted to around three million euros in 2023, but the goal is to double these figures annually.
"Porto has developed a global center of technological excellence. The city provides a talented and highly skilled workforce, along with a world-class educational and university system, with the second highest rate of technology graduates in Europe,” explained the company’s CEO, Martin Zierheim, in a statement to the newspaper ECO.
Xelerate.tech has been in Porto since 2021 and is executing an annual investment of seven to eight million euros until 2028.
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