This year’s SIM Conference in Porto sent a clear message: Portugal is no longer positioning itself as an emerging startup ecosystem, but as a global innovation hub – and deep tech is central to that ambition.
The announcement of “Tech Foundry Portugal – Deep Tech Edition” by Secretary of State for the Economy João Rui Ferreira was a clear indicator of where the country sees future growth coming from. The new accelerator programme, led by Startup Portugal in partnership with Hello Tomorrow, is designed to help scientific and technological innovation make the leap from the laboratory to the market. Portugal is scaling its startup ambitions.
The accelerator programme targets up to 40 early-stage teams whose technologies have already been demonstrated in research environments, combining acceleration, mentoring and investor access with potential funding pathways through Banco Português de Fomento.
More importantly, the announcement did not feel like a standalone policy initiative. It reflected the broader tone of SIM Conference 2026: a startup ecosystem increasingly confident in its international relevance and long-term economic role. According to Startup Portugal, this year’s event has brought together more than 4,000 attendees, over 200 investors and 400+ startups, so it’s a strong signal of the country’s growing international relevance in innovation and venture ecosystems.
The Secretary of State emphasised that, despite global uncertainty, Portugal is focused on strengthening its startup economy, not simply to achieve incremental growth, but to build long-term strategic industries that have real relevance for the future. From AI and robotics to climate tech, advanced computing and ocean technologies, it’s part of a wider European trend to try to commercialise research faster and build sovereign innovation capabilities. Portugal appears keen to position itself within that movement.
That ambition is increasingly backed by numbers. Portugal now has more than 5,000 startups, and has produced eight unicorns – outperforming international averages relative to the size of its ecosystem. For a relatively small market, that’s an important metric. It suggests Portugal’s startup ecosystem is no longer purely regional; it is increasingly competing globally.
Portugal was repeatedly described as a multicultural country open to business from around the world, reflecting continued efforts to attract international founders, talent and investment. That positioning has become increasingly crucial as countries compete globally for entrepreneurs, talent and venture capital. Ecosystems are no longer vying for attention based on tax incentives or funding availability, but on quality of life, access to networks, regulatory flexibility and international connectivity.
Perhaps the most striking comments from Startup Portugal were not about where the ecosystem is today, but where it believes it needs to go next. The ambition was not just sustaining 5,000 startups, but doubling or tripling that figure over time; fostering more founders, more scaleups and more “heroes” capable of inspiring the next generation of entrepreneurs.
