Having written extensively about this ecosystem from space tech and venture capital to university startups and regional innovation, it was time to offer something more personal: a reflection on what I have learned by following Portugal’s journey into the future of technology and entrepreneurship.

For a long time, Portugal was seen as an emerging player in the European tech scene, an underdog with charm, but not necessarily scale. That perception has changed. Today, Portugal is no longer simply a “hidden gem.” It is a visible, growing presence on the global innovation map. And that visibility is not just about attracting digital nomads or hosting big conferences. It is about consistent effort, structural growth, and a startup ecosystem that has moved from hopeful to credible.

One of the most encouraging developments is the increasing decentralization of innovation. While Lisbon and Porto continue to be vibrant centers, many of the most exciting stories I have encountered have emerged far from the main stage. Regions like Braga, Évora, and the Algarve and even smaller hubs like Bragança and Guarda are gaining attention for the right reasons: strong universities, motivated talent, and fertile ground for startups. These areas are becoming test beds for new models of innovation that combine academic excellence with regional development.

This brings me to one of the ecosystem’s most powerful assets: talent. Portugal has long produced highly skilled engineers, researchers, and entrepreneurs but many of them used to leave in search of opportunities elsewhere. That dynamic is shifting. More Portuguese professionals are finding reasons to stay, while a growing number of experienced founders and investors are choosing to move here. They are not just coming for the lifestyle; they are coming to build. And that blend of local roots and international expertise is a strength that few countries can replicate.

At the same time, the venture capital landscape is evolving in ways that feel uniquely Portuguese. New models, such as community-driven funds and investment platforms that involve participants in the entire funding process, are helping to democratize access to capital. We are seeing early-stage support return, after a few years of decline, and local investors are beginning to take more risks on pre-seed and research-based ventures. It is not about copying Silicon Valley; it is about creating something that works for Portugal, inclusive, transparent, and sustainable.

Of course, the challenges remain. Bureaucracy, legal complexity, and the gap between academia and industry can still slow down progress. But more actors are working together to bridge those gaps, and the willingness to collaborate is what sets Portugal apart. This is a country where it is possible to get a meeting, have a real conversation, and find common ground, something that is often harder in more mature, saturated ecosystems.

So, after years of covering this scene, what stands out most is not the number of unicorns, but the number of people genuinely trying to build something meaningful. Innovation here feels less performative and more grounded. It is about solving real problems, often in underserved regions, and bringing more people into the process.

Portugal is showing that innovation does not have to be loud to be powerful. It just needs vision, persistence, and the right partnerships.

And from what I have seen, the country has all three.

Author

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.

Paulo Lopes