The major national companies have played a decisive role in promoting knowledge and innovation.
In 2019 the companies that invested the most in R&D were NOS, Altice, Bial, Millennium BCP, Bosch and Sonae; five of them are Porto Business School members. This information is presented in the preliminary edition of the “Startup & Entrepreneurial Ecosystem Report, Portugal 2021”.
The relevance of startups within the business landscape is undeniable and the advantages of this type of investment are no longer a mystery. Larger companies are increasing their support to startups.
Two of the local initiatives to support national entrepreneurship are led by companies that are Porto Business School members. EDP is the one that invest the greatest value in startups in areas aligned with the Group’s business, such as innovation, electric mobility, and smart grids. Bial invests in R&D, reaching for startups with ideas aiming to test and develop technology-based products. Galp invites startups and tech companies to showcase solutions, which aim the decentralization of energy production and self-consumption. Sonae, through Bright Pixel, collaborates with startups in the retail technology area, integrating the European Reach Consortium, with a total budget of €3.5M. NOS launched an investment fund of €10M to stimulate R&D in the use of 5G by the Portuguese entrepreneur community.
Portugal is in the radar of the large multinationals. Nearly 140 companies have installed 158 service centers in our country and 92% of these companies are foreign. These companies, among which are Bosch, Google, Natixis, and Siemens, contribute for the growth of our economy and foster innovation.
In an economy increasingly volatile and in constant transformation, entrepreneurship is vital towards a faster economic recovery and a globally more competitive business ecosystem.