Portuguese business startups produce 2.2 bln euros in sales in 2018
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E-mail Xinhua, July 27, 2019
LISBON, July 26 (Xinhua) -- Portuguese business startups recorded 2.2 billion euros (2.45 billion U.S. dollars) in sales of goods and services in 2018, representing 1.1 percent of the Portuguese GDP of 201.6 billion euros, an official said on Friday.
The increased impact of startups on national GDP grew more than GDP itself, Deputy Minister of Economy Pedro Siza Vieira said at the ceremony celebrating the third anniversary of Startup Portugal, a government-sponsored association, which is responsible for the implementation of the national strategy for entrepreneurship.
According to data from the association, exported goods and services from the startups increased from 673 million euros in 2016 to 1.12 billion euros in 2018, representing 1.9 percent of the total national exports.
The data indicated that the number of the startups in incubation, early development stage of a fast-growing company, climbed to 3,214 in 2018 from 2,193 in 2016, adding that during the first year of incubation, the survival rate of startups rose from 80.43 percent in 2017 to 86.56 percent in 2018.
The jobs created by the startups increased sharply from 15,534 in 2016 to 25,084 in 2018, according to the data.
Startup Portugal on Friday unveiled the third edition of Startup Voucher, a monetary support for entrepreneurs that has reached almost 800 people and allowed the creation of more than 70 companies.
The association launched the final version of Startup Hub, a data platform that maps the entire national economic ecosystem.
A stimulus package was also announced to support the participation of Portuguese startups in the Web Summit, scheduled for Nov.4 to 7 in Lisbon and the largest entrepreneurship and technology conference in the world.
Joao Borga, director of Startup Portugal, pledged free access to training for startups and founders who have close relationships with national incubators, vowing to bring international pitch doctors, pitch specialists, to Portugal to train entrepreneurs in the country.
"We want to bring in the biggest international pitch doctors to pass on the best tactics and tips on the best pitch in the world," he said. Enditem
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