The Web Summit as a mirror of Portuguese entrepreneurship | P24 Podcast

by time news

You probably haven’t heard of Connected,​ a start-up from⁤ Porto ⁤that raised​ two million euros to develop its internet ‌of ​things technology applied to financial models. Nor⁤ from Ethiack, from Coimbra, which identifies cybersecurity vulnerabilities using ⁤ hackers ethical. Not even from Glooma, which developed an app to help‌ with ⁤breast cancer screening and monitoring. Not even from⁤ Anchorage Digital, a Portuguese startup valued at more than three ​billion euros in the United States.

When talking about Web⁤ Summitwe ‍tend to think of ⁤a feast of ⁣stratospheric companies and entrepreneurs with no foundation. From another planet where work and investment make‌ little sense. But⁤ it is a good thing that these concepts change. Startups ‍and the holy religion of entrepreneurship, as it has been​ called in critical tones, focus the⁤ future of the Portuguese economy. There ⁤are around four thousand bodies here, from Lisbon to Bragança. Made by daring young⁢ people and funded⁣ by risk ⁣managers. Many die on the way. Others reach unicorn status, when they are worth more ​than US$1 billion.⁣ Portugal has been blessed with six unicorns generated by national talent. More than⁤ Spain, more than Italy.

Between yesterday and‌ Wednesday, around 125 of ⁤these companies will be‍ inside Web ‌Summit alongside many others from all geographies.⁣ There⁤ will also be investors. The Web Summit does not generate talent or capital, but serves as a showcase ⁤for a country that must overcome the middle-income trap. It is a tool, which contributes to the support‍ of the state and an ecosystem that⁣ places ‌Lisbon, Porto or Braga in an international‍ network focused on the ⁣future. Could it be that, in this Championship, Portugal are⁣ already ‌with the best? What still⁢ needs ‍to be done to make the most qualified⁣ new generation⁤ even brighter?

In this program,​ there is‍ Ricardo Luz, the founder of Gestluz, ‌which has since been sold to the Baltic group Civitta. Gestluz is a consultancy ​with long experience in projects to create and scale start-ups in Portugal. Its leader in Portugal is Ricardo Luz.

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Interview: Exploring the Portuguese Startup Landscape at Web Summit

Interviewer (Time.news Editor): Welcome ​to our interview today! We’re thrilled to have you here to discuss the current‍ landscape of Portuguese startups, especially ​in light ‍of the recent Web Summit. There’s been a ⁢lot of talk about the ⁤global giants ‍in ​tech, but I ​understand there are⁤ some impressive homegrown talents as well.

Expert: Thank⁢ you ‍for having me!‍ Yes, the‌ Portuguese startup scene is burgeoning with⁤ innovation and fresh​ ideas.⁤ While everyone is‍ enamored with the big ⁣players like Spotify⁤ and ⁣Uber, it’s the smaller, less-known companies that are making significant contributions to technology and entrepreneurship.

Interviewer: Absolutely.⁤ I came ‌across a ‌few intriguing ‌names such as Connected from Porto, Ethiack from Coimbra, and Glooma,⁢ all of which seem to​ be doing substantial work. Could you‌ elaborate on these startups and their contributions?

Expert: Certainly! Connected is developing cutting-edge Internet‍ of Things (IoT) ​technology specifically for financial models, which is⁤ a⁤ tremendous step in how⁤ businesses can⁤ optimize their operations. ⁤They recently secured two million euros in funding, which ⁢highlights‍ investor confidence in their vision.

Interviewer: That’s⁤ impressive!⁣ And what about Ethiack? What differentiates their‍ focus in cybersecurity?

Expert: Ethiack is fascinating because they⁢ utilize ethical hacking ⁤methods to identify vulnerabilities in digital systems. As⁤ cyber threats become more sophisticated,​ having‍ a proactive approach to security is essential. Their work is crucial for businesses that need to protect sensitive data ⁣while ‌maintaining trust with their customers.

Interviewer: And I assume ‌Glooma is⁤ also making strides in the health tech sector?

Expert: Exactly! Glooma ⁣has developed an app‍ aimed at assisting with breast cancer ‌screening and monitoring. This is particularly important as early detection can significantly‍ enhance treatment ⁤outcomes. Their technological innovation showcases how startups can intersect with⁢ healthcare, improving‍ lives ‌through digital solutions.

Interviewer: While these startups might not garner the media attention that other tech giants do, ⁣it seems they bring unique ‌solutions to the table. How ⁢do you think⁣ this⁢ reflects on the broader narrative of entrepreneurship in Portugal?

Expert: It certainly reshapes the⁤ conversation. The narrative around entrepreneurship often leans towards glamorizing ⁤only⁤ massive tech companies, but smaller startups like these ⁤highlight the diversity and ⁢practicality of innovation. They ⁣represent​ a shift in perception towards a more grounded and realistic view of‌ what ⁢entrepreneurship ​can accomplish – addressing real-world problems, rather than merely chasing unicorn status.

Interviewer: That’s⁣ a ‍refreshing outlook. Do ⁣you think platforms ​like Web Summit are helping bring visibility ⁣to these lesser-known ⁣companies?

Expert: Definitely. Events like Web Summit provide a fantastic platform for startups to showcase their innovations. They create opportunities for networking, ⁣investment, and knowledge exchange. With the increasing focus on diverse solutions, these gatherings spotlight both the⁣ glittering giants and⁤ the ‍homegrown talents, fostering⁣ a more inclusive entrepreneurial environment.

Interviewer: It sounds like the⁤ future is bright for Portuguese startups! What advice would you give ‍to aspiring entrepreneurs looking to follow in‌ the footsteps of companies ⁢like Connected or Ethiack?

Expert: My advice ⁢would be to stay authentic to your vision‌ and mission. Focus on solving​ genuine problems and don’t get too​ caught up in the race for ⁤funding⁣ or rapid growth. Partnerships, mentorships, and‌ continual ⁤learning are invaluable. ⁣Surround yourself with a⁣ community of fellow entrepreneurs who ‌can provide support and ⁤insights along the way.

Interviewer: Wonderful insights! Thank you for sharing your expertise with us ‍today. It’s clear that the Portuguese startup ecosystem is vibrant and evolving,⁣ and I look forward ⁤to‌ seeing‍ what these innovative companies achieve in the future!

Expert: Thank⁤ you for having me! I’m excited ‍to see how‌ the landscape continues to develop and the‍ impact these startups will make⁢ both locally and ⁣internationally.

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