International Tech Hubs 3rd ed. - Digital Magazine plugd:in

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INTERNATIONAL TECH HUBS THIRD EDITION | BDO LLP

THE TALENT POOL Access to talent is a particular advantage for foreign investors in Portugal. With one of the top 15 engineering universities in Europe attracting students from all over the world, the region produces an excess of technical and engineering professionals, to the point where many are being exported to wider Europe. The demographic of young professionals entering the industry today offers further advantages, with a new pool of digitally native, highly skilled tech specialists available for lower rates than you might see in more established tech centres across the continent. Portugal ranks #38 among 189 economies in the Human Development Index (ranked by life expectancy, education and income per capita), and #23 in the 2020 IMD World Talent Survey .

GOVERNMENT SUPPORT The Portuguese government runs a number of incentives to support young and tech businesses, including a seed programme created to help start-ups retain their talent and prevent layoffs as a result of COVID-19. The StartUp Visa is available to foreign entrepreneurs looking to develop a tech-focused start-up in Portugal, as part of the government’s drive to attract new and developing businesses to relocate here and bring new job opportunities to the region. If accepted, business owners additionally have the option to apply for Portuguese citizenship. Other incentives supporting SMEs and start-ups include the 200M Co-investment Fund , a matching fund that aims to foster co-investment in high growth start-ups with national or international private co-investors. The Social Innovation Fund also provides co-investment opportunities for businesses that promote social, financial and digital inclusion. Portugal operates in line with International Financial Reporting Standards (IFRS) as adopted by the EU.

THE AVAILABILITY OF MARKET CAPITAL IS ONE OF THE BIGGEST OPPORTUNITIES IN

PORTUGAL RIGHT NOW, WITH GRANTS FROM THE EUROPEAN UNION EXPECTED TO EXCEED $59BILLION IN THE COMING YEARS.

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