Portugal news – Here are the Top 5 Portuguese sector-leading GovTech startups according to the European Commission report “European GovTech Market Scanning.” The GovTech Connect Consortium lists sector leading GovTech startups for each of the prioritized GovTech categories.
The Top 5 Portuguese sector-leading startups by GovTech category have been selected based on (i) level of innovation (both on technology and type of solution that the startup provides), (ii) work with local or central governments, (iii) potential for public sector case studies, and (iv) amount of investment or funding received.
Here are the Top 5 Portuguese sector-leading GovTech startups:
MyPolis is a mobile platform that aims to connect politicians and citizens. It allows citizens to find out about the political proposals in their area, engage in debates and communicate with their political representatives. The startup has already worked with Portuguese local governments and parish councils. Headquartered in Lisbon, Portugal, MyPolis is funded by MazeX.
In Portugal, the government has invested in upskilling, strengthening and enhancing the local startup ecosystem across the country, with initiatives and programmes such as Startup Visa, E-Residency Program, and various investment and funding initiatives. These are making Portugal an attractive hub for both entrepreneurs and investors, with Lisbon increasingly taking the role of GovTech hub in the country. In early 2023, through GovTech Justicia the Portuguese government announced that it would invest €26 million20 In AI tech to transform the Justice Department from the Recovery and Resilience Plan (PRR).
Although Portugal’s startup ecosystem is still small compared to other countries in Southern Europe, over the last 2 years it has produced unicorns such as Farfetch, Outsystems, Talkdesk, and Feedzai that have a global scale. According to Startup Portugal, the startup ecosystem in Portugal is made up of 33% technology-based startups and 17% B2B while fintech represents 10% of the ecosystem and health-based startups represent 8%. Leading private investors in the country include Maze Impact, an impact investment firm that offers financial and non-financial tools to organizations committed to delivering positive social and environmental outcomes, according to the European GovTech Market Scanning report.
In 2022, the number of applications submitted to Portugal Ventures during the year was 297 investment applications, totaling €74.9m in investment sought. According to Startup Portugal, 45% of investors in Portugal consider the Digital Economy the main sector driving Portugal's growth in the coming years, which could support the startup and GovTech investment landscape in the country.