Summary:
Portugal and Israel's startups face similar challenges due to small local markets, driving them to collaborate for global expansion
Portugal's tech sector is a rising star in Europe, with 4,719 startups and a 16% year-on-year growth
The 2014 MoU and Web Summit's move to Lisbon have strengthened tech ties between Israel and Portugal
CoimbraTech Challenge offers Israeli startups access to Europe with tax benefits and no initial office costs
The partnership leverages Israeli innovation and Portuguese strategic approach for mutual growth
Startups in Portugal and Israel face a unique challenge: their local markets are too small to sustain growth. This similarity has fostered a mutually beneficial collaboration between the two nations, with Israel gaining a foothold in the EU and Portugal tapping into Israeli innovation and talent.
A Shared Vision for Global Expansion
Professor João Gabriel Silva, President of the IPN Research Institute, highlights the necessity for startups in both countries to look beyond their borders for growth. This shared perspective has strengthened diplomatic and tech ties, making Portugal and Israel close partners in science, trade, and business.
Portugal's Rising Tech Scene
Portugal's tech sector is booming, contributing 10% to the country's GDP and generating €20 billion in turnover. With 4,719 startups, a 16% year-on-year increase, and over 26,000 jobs created, Portugal is proving to be a rising star in Europe's tech landscape.
Strengthening Ties Through Collaboration
The 2014 science and technology MoU between Israel and Portugal has paved the way for joint research and institutional exchanges. The relocation of Web Summit to Lisbon in 2016 further cemented Portugal's position on the global tech stage, attracting over 70,000 attendees annually.
Opportunities for Israeli Startups
Initiatives like the CoimbraTech Challenge offer Israeli startups a gateway to Europe, with benefits including reduced tax rates and access to a skilled talent pool. Focus areas include health tech, AI, and smart cities, with no direct costs for office space in the initial months.
A Synergistic Future
The combination of Israeli agility and Portuguese strategic approach creates a fertile ground for innovation. With Portugal's growing tech scene and Israel's need for European allies, this partnership is set to thrive.
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