Summary:
Lisbon recognized as 2023’s European Capital of Innovation with over 820 startups supported.
Rauva simplifies business registration with over 3,000 users.
Neuraspace utilizes AI to manage satellite traffic and prevent collisions.
Bhout has developed a smart boxing bag with significant funding and expansion plans.
MyCareforce connects healthcare professionals with hospitals, addressing staffing needs.
A Thriving Startup Scene in Lisbon
Two years ago, Jon Fath moved to Portugal from the Netherlands with the dream of launching a fintech startup. He notes that Lisbon is welcoming to expats and entrepreneurs, contributing to its recognition as 2023’s European Capital of Innovation. The Unicorn Factory Lisboa, launched in 2022, has already supported over 820 startups and raised more than €1 billion ($1.1 billion).
Nuno Pereira, CEO of Paynest, highlights Portugal's unique advantages like its climate, safety, and cost of living. Supportive government policies, such as residence visas for entrepreneurs and R&D tax incentives, have been crucial for startups recovering from the recent VC drought.
Spotlight on Innovative Startups
Rauva
Founded by Jon Fath and Sam Mizrahi, Rauva simplifies the process of starting a business. Entrepreneurs can register online quickly, and the platform also provides features like debit cards and invoicing. Rauva is currently utilized by over 3,000 users and has facilitated the creation of more than 1,000 companies.
Neuraspace
Neuraspace, led by Chiara Manfletti, uses AI to manage space traffic and prevent satellite collisions. With $27.5 million raised, the startup is tracking over 300 satellites and aims for self-sustaining space operations.
Bhout
Mauro Frota's Bhout has developed a smart boxing bag that tracks performance metrics. The startup has secured €10 million in seed funding and has plans to expand to 20 new clubs in Portugal and Spain.
MyCareforce
MyCareforce, co-founded by Pedro Cruz Morais and João Hugo Silva, connects healthcare professionals with hospitals, addressing staffing shortages. The platform has 15,000 nurses registered and has raised €2 million in funding.
Oscar
Oscar, founded by João Marques, provides a platform for booking at-home services like plumbing. With 20,000 technicians onboard, Oscar generated €12 million in revenue, growing rapidly.
Glooma
Glooma, co-founded by Francisco Nogueira and Frederico Stock, is developing SenseGlove for breast self-exams, raising over €1.3 million and aiming for FDA approval by 2025.
Sheerme
Sheerme, led by Miguel Ribeiro, connects users with health and beauty services. The platform has 250,000 users and raised €5 million in seed funding.
Sqill
Sqill, co-founded by Afonso Coimbra, is an AI-powered video editing tool for social media, having raised €2 million to support its clients, which include major brands.
Ubbu
Ubbu, founded by João Magalhães, offers coding education for children, with over 300,000 students enrolled across 20 countries.
Paynest
Paynest, founded by Nuno Pereira, helps companies manage employee finances, currently serving over 30,000 workers and raising €3 million in funding.
This article first appeared in the November/December 2024 edition of WIRED UK.
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