How does Portugal's startup scene compare to other countries?

Portugal's startup scene has been rapidly growing in recent years, thanks in part to government initiatives and an influx of foreign investment. While still relatively small compared to more established startup hubs like Silicon Valley, Lisbon and Porto have emerged as two of Europe's hottest destinations for entrepreneurs.

One of the key advantages of Portugal's startup scene is its cost-effectiveness. The country offers affordable office space, living costs, and a lower tax burden than many other European countries. Additionally, Portugal has a well-educated workforce, with many graduates in science, technology, engineering, and mathematics (STEM) fields.

Compared to other European countries, Portugal's startup scene is relatively young. However, it is rapidly catching up to more established ecosystems. In particular, Portugal has made significant strides in attracting foreign talent and investment. This has been facilitated by government initiatives such as the Startup Visa, which allows entrepreneurs from outside the European Union to apply for residency and launch their startups in Portugal.