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Portugal News - BayWa r.e. is planning to develop a Floating Offshore Wind Project in Portugal. BayWa r.e is headquartered in Munich with revenues of EUR 3.56 billion in 2021, that represents an increase of 61% due to the sale of plants having a total output of 612.8 MW. Based in 29 countries, with 4,000 employees globally, BayWa r.e is a leading global renewable energy developer. Their joint shareholders are BayWa AG, a globally successful business with revenues of €19.8 billion, and Energy Infrastructure Partners, a market leader in energy infrastructure investment that manages over €2.6 billion from global investors. The company has applied to Portugal’s government to secure the rights for an exclusive use of the seabed off the coast of Viana do Castelo in order to develop a floating wind farm with 30 turbines with a capacity of 600 MW. In a bid to provide commercial support to Portugal’s transition to sustainable energy and to reach net-zero emissions in the coming decades, BayWa r.e plans to develop the project without public subsidies through a Power Purchase Agreement (PPA). Since Portugal plans to increase the share of renewable energy in electricity production to 80% by 2026, the government has developed a marine spatial plan for energy production. Portugal is developing simultaneously a number of innovative Green Energy projects. These include Green Hydrogen production from renewable sources in Sines, the joint Portugal-Spain energy storage facility, the Green Energy Corridor from the Iberian Peninsula to France and is now working on a greenfield offshore wind project. Portugal is part of the Industrial Strategy for Ocean Renewable Energies (EI-ERO) to develop the country’s offshore wind potential. According to EI-ERO, offshore renewable energy has the potential to supply 25% of the electricity consumed annually in Portugal and also to create a new export chain with these emerging technologies. Portugal’s government expects Green Energy exports to increase ten-fold the number of jobs in the active sectors and the greatest potential for exports is expected to be through the development of a Floating Wind Energy industry. Portugal’s plans in the field are in line with the TWIND network of specialized research professionals in the field of offshore wind energy. TWIND has received funding from the EU Horizon 2020 for the coordination and support action program. The TWIND project aims at providing support to WavEC, an institution that includes Portugal. In collaboration with the Embassy of Spain in Portugal, WavEC Offshore Renewables is hosting a seminar on the 10th of November about Offshore Wind in Iberia. Presenters will discuss topics such as innovation, the outlook for an Iberian offshore wind industry, the supply-chain and commercialization, including how to make renewable energy become a competitive option. Portugal’s strategy for ocean renewable energy as an emerging industry is expected to have a high growth potential and a Floating Wind farm will be another string to its bow in order to target the energy transition with multiple sources of renewable energy. Source: https://www.portugalbusinessesnews.com/post/portugal-wind

The compact SUV Volkswagen T-Roc, produced by Autoeuropa in Portugal is a best-seller of its category in Europe. The compact SUV Volkswagen T-Roc, produced by Autoeuropa in Portugal is a best-seller of its category in Europe. Spearheading the automotive industry, this Made in Portugal SUV model by the German brand registered a 15% increase in sales in 2022, making it the best-selling model sold by Volkswagen in Europe, with nearly 106,000 units exported to the European market between January and July 2022. This new T-Roc SUV from Volkswagen features advanced digitalization and connectivity. With the latest generation of assistance systems, this crossover model builds on the success of the previous generation. The standard equipment now includes LED headlights, a Digital Cockpit, a 6.5-inch infotainment display and a multifunctional steering wheel. The optional Travel Assist system provides predictive cruise control, enabling assisted driving up to 210 km/h. The range of functions includes Park Assist, which also takes care of parking forwards in perpendicular parking bays and moving out of parallel parking spaces. Another highlight among the optional functionalities includes LED matrix headlights, providing optimal visibility at night or in bad weather. While Dynamic Light Assist helps predictively illuminate winding roads, it also ensures that oncoming traffic is not dazzled when the main beam headlights are active. Combining advanced connectivity, the Volkswagen T-Roc has the latest generation of online services on board with a Modular Infotainment Toolkit. The We Connect Plus functions enable the use of innovative digital services such as natural online voice control and provide access to streaming services. Apple CarPlay and Android Auto functions can also be integrated wirelessly into the control system via App Connect Wireless. With a sleek design and a refined interior, the new Volkswagen T-Roc SUV combines powerful performance, innovative features as well as an attractive design that lead to this category becoming a best-seller on the EU market and paves the way to a bright future for the Made in Portugal Automotive Industry. Source: https://www.portugalbusinessesnews.com/post/suvmadeinportugal

Portugal Business News: Investments in the Portugal Telecommunications sector - Following the licenses auction by Anacom, Cellnex and Digi agreed to invest in a 5G network in Portugal. The project is due to be completed by the end of 2023. Digi 5G routers offer an unprecedented combination of interoperability with leading-edge 5G functionality. Cellnex Telecom already implemented 5G networks in 12 countries and is now boosting its investments in Portugal to ensure national coverage. Cellnex is an independent wireless telecommunications operator that provides the infrastructure required for operators to have access to the most advanced infrastructure in Europe. With a portfolio of around 138,000 sites, the projects that are expected to be completed by 2030 include Spain, Italy, Netherlands, France, Switzerland, UK, Ireland, Austria, Denmark, Sweden and Poland. Cellnex is listed on the Spanish stock-exchange and is part of the IBEX35 index and of the EuroStoxx 100 index. Its shareholders include Edizione, GIC, ADIA, Canada Pension Plan, CriteriaCaixa, Blackrock, Wellington Management Group, Capital Group, FMR and Norges Bank. Cellnex is divided into four clusters, namely telecommunications infrastructure, audiovisual networks, security & emergency solutions as well as solutions for Smart cities with the Internet of Things. The upcoming developments in the Portugal IT industry will further contribute to its economic development with the efficient implementation of state-of-the-art connectivity that is a pre-requisite for technological advances. In Portugal, the shift to 5G is accelerating, ushering-in a new era with higher bandwidth and cost-effective wireless networking that will ensure a frictionless transition into the future. Source: https://www.portugalbusinessesnews.com/post/cellnex-5g-portugal

Portugal Business News - With increasing pressure on Portugal airport capacity, EasyJet plans to carry more passengers per plane by investing in Airbus A321 aircraft that may increase its passenger number by 80, thus reaching a total of 244 seats. The EU Commission has ranked EasyJet first among air-carriers that have applied for a portfolio of up to 18 daily slots at Lisbon airport. EasyJet will start operating new routes from October 2022, while accelerating its transition to carbon neutrality with new aircraft. EasyJet is a European low-cost airline with leading positions at primary airports in Europe. It is one of the largest airlines in the world, with 308 aircraft, operating 927 routes across 34 countries and 153 airports. Airbus expanded the A321neo’s seating capacity with the optimized use of cabin space, while still accommodating Airbus’ modern comfort standard of seats that are at least 18 inches wide. EasyJet plans to reach carbon neutrality by 2050, with measures that include investments in new airplanes, energy-efficiency and the future use of hydrogen-powered aircraft. The new aircraft will not only carry more passengers but will also consume 15% less fuel. This goal will be reached by the use of Sustainable Aviation Fuel (SAF) that is produced from sustainable feedstocks. SAF gives an impressive reduction of up to 80% in carbon emissions compared to traditional jet fuel. Despite the bottlenecks at the Humberto Delgado airport, EasyJet is confident that its larger airplanes will circumvent such issues, as the Portugal market is high on their agenda. The new slots, together with the Airbus A321 will increase their market-share in Portugal. With the increased presence of EasyJet in Portugal from the end of October, the airline will become the second largest carrier operating in Lisbon. By the end of 2022, EasyJet will have 19 aircraft based in Portugal, that will lead to carrying more than 10 million passengers on a yearly basis. With an additional 4.8 million seats between October 2022 and March 2023, this will lead to an increase of 51% compared to pre-pandemic levels. The new EasyJet investments in Portugal will not only benefit the Tourism Industry but will also lead to the creation of 130 direct jobs in Portugal, where it already employs more than 500 people, thus paving the way for further growth in 2023. Source: https://www.portugalbusinessesnews.com/post/easyjet-investment-portugal

Portugal Green Investment news – EIT Innoenergy has just announced the creation of a venture capital fund to invest in Green start-ups in order to accelerate the energy transition in Portugal. The European Institute of Innovation and Technology (EIT), which has hubs across Europe and in the US, has already raised € 1.6 billion with EIT InnoEnergy’s alliances in sustainable energy. Start-ups have access to the InnoEnergy community of top European venture capital firms, such as EBAN that is the pan-European representative for the early-stage investor community and gathers 100 member organizations in more than 50 countries with the collaboration of the EU Commission. EBAN represents a sector estimated to invest € 11 billion yearly to fund SMEs. EIT Innoenergy and Santander Asset Management are launching this new climate tech investment vehicle today in Portugal in order to accelerate the energy transition and address Europe’s energy security crisis. This will be done by funneling venture capital into the continent’s most promising climate tech start-ups. The selected start-ups will be from various Green sectors like renewable energies, energy storage, smart cities and hydrogen. Santander will manage the fund portfolio in its efforts towards this overall goal and will raise over €120 billion in green financing by 2025. At the end of the first half of 2022, Banco Santander had €1.2 trillion in total funds. The EIT Innoenergy fund is a further step towards fighting climate change and achieving Net Zero by 2050. Recognized globally as the most active sustainable energy investor, EIT leveraged over 180 portfolio companies to generate €72.8 billion in revenue, that will lead to saving 1.1G tons of CO2e annually by 2030. If you are selected as a Green start-up, a scale-up or an innovator, you may receive support to speed-up time to market. 90% of EIT funded start-ups work with global brand names such as ABB, BMW, EDF, Tata Steel and Vattenfall. With this new fund, EIT Innoenergy is spearheading the way towards a de-carbonized Europe by 2050 through a three-pronged approach, namely battery storage, green hydrogen and solar photovoltaics. While electricity was traditionally generated by power plants and distributed via a grid, the EU Clean Energy Package (CEP) aims at consumer participation to create a bi-directional power flow. With this new announcement today, Green start-ups in Portugal will be able to obtain A and B series funding in equity instead of debt. So, do you have a Green energy start-up to fund? Source: https://www.portugalbusinessesnews.com/post/eit-innoenergy-green-fund

Portugal is positioning itself as a Green Hydrogen Hub for the EU. Sines in Portugal is the new Hydrogen Valley, with Green Hydrogen expected to become a major pillar of economic growth. Portugal’s Prime Minister stated that the country is an excellent location to produce Green Energy because water is easily accessible. He added that there was a 1 billion Euro investment to produce Green Hydrogen in Sines under the consortium MadoquaPower2X, with the availability of solar and wind power. The company will have a 500 Megawatt-capacity to produce Green Hydrogen which will be exported from the port of Sines. Danish fund manager and offshore wind developer “Copenhagen Infrastructure Partners” (CIP) have partnered with Madoqua Renewable and Dutch Power2X to build the €1bn project that will produce 50,000 tons of Green Hydrogen annually. The port of Sines, that is south of Lisbon, has the conditions for stocking and trans-shipping energy to the EU. Another consortium of 13 companies and research partners was selected by the European Commission as part of the Green Deal to develop Green Hydrogen production of 100 MW in Sines, Portugal, through the GreenH2Atlantic project. The consortium includes EDP, Galp, ENGIE, Bondalti, Martifer, Vestas Wind Systems A/S, McPhy and Efacec. The project has a €30 million grant and construction is expected to start in 2023 with operation starting in 2025. Portugal also just announced the creation of a Green Hydrogen production unit in Portalegre, that is north of Lisbon, with an investment of €16 million. The project, which is a partnership between Lightsource BP and Douro Gas, has a solar photovoltaic component. The plant is expected to be operational by the end of 2023, with a production capacity of 89 kilograms of hydrogen per hour. The plant location is due to its access to the high-pressure gas network. Portugal’s Prime Minister added that 80% of the energy Portugal consumes will come from renewable energy by 2026 and this will be decisive for the trade balance. Portugal is welcoming the Green Hydrogen Summit on 18-19 April 2023 in Lisbon, with a focus to achieving cost-competitive Green Hydrogen. The Summit will be attended by governments of several countries as well as industry experts and will facilitate networking with over 250 industry peers. The Iberian Peninsula is strategic for connecting the EU and the existing natural gas pipeline can be used for Green Hydrogen. Portugal and Spain have the capacity to supply 30% of Europe’s natural gas requirements and are also expected to produce Green Hydrogen cheaper than in the rest of the EU. Energy giants Iberdrola and BP have already announced that they will partner to develop H2 production hubs in Portugal and Spain. Renewable Hydrogen is in line with the EU Green Deal and the REPowerEU plan. Green Hydrogen will replace the use of natural gas, transitioning to carbon-neutral gases. The EU announcement for the creation of an EU bank for investment in hydrogen projects will lead to a united Europe for hydrogen distribution. The EU bank will invest in hydrogen projects that are budgeted at three billion Euros to target mass-production. While Hydrogen is abundant on Earth in the form of water (H2O), the creation of pure hydrogen requires breaking molecular bonds. This is possible through electrolysis, where electricity is used to split H2O into hydrogen and oxygen. Green Hydrogen is when the energy used to power electrolysis comes from renewable sources like wind, water or solar energy. Hydrogen can also be used to store energy from renewable sources for later use, as it may be stored underground for as long as it is needed, just like natural gas. While LNG is a transition fuel, it is not zero-emission, while Green Hydrogen complies with EU emission targets. This is why companies are shifting to hydrogen for achieving the Green Deal goals with 100% sustainable energy. The existing LNG infrastructure will help in the transition towards hydrogen distribution. Portugal’s LNG Terminal in Sines lies on the Atlantic coast, south of Lisbon, and comprises port facilities for carriers, with storage tanks, processing facilities and a pipeline connecting to the Natural Gas Transport Network. With the upcoming investments in Green Hydrogen in Portugal, Sines is the new Hydrogen Valley to keep a watch on for new advances in line with the EU Green Deal to Re-Power the EU. Source: https://www.portugalbusinessesnews.com/post/portugal-green-hydrogen-hub

American biopharmaceutical company, Amgen, has announced an investment of €100 million in Lisbon, Portugal. The multinational selected Lisbon as its EU hub. Amgen, that is a global leader in biotechnology, focuses on molecular biology and biochemistry based on DNA technology for producing innovative drugs. The Amgen Capability Center in Portugal intends to hire an additional 300 people worldwide within the next three years. In 2021, the revenue of Amgen was estimated at around U$ 26 billion. It is a public company based in the US that is traded on Nasdaq AMGN and NASDAQ-100. Amgen, that has expanded its operations to over 100 countries and has a workforce of 20,000 people, focuses on the development of therapeutics in fields such as oncology, hematology, cardiovascular diseases and neuroscience. The choice of Portugal as a hub for the EU was based on the availability of qualified staff, on the country’s attractiveness as a destination to live and work and on lower operating costs. Portugal, that is recognized for its competitiveness and ease of doing business, is attracting global companies in the health and biotechnology sector. According to the Portuguese Association for Bioindustry (P-BIO), around 10% of all international patents in the field of biotechnology are filed by Portuguese scientists, which is nearly twice the EU and OECD average. Portugal registered 446 patents within the last decade. The Portugal Biotech study that was launched by the P-BIO association revealed that the turnover of R&D companies in the study increased by 33%. The sector is in the growth phase, with exports accounting for 60% of the turnover of over half of the companies involved in the study. There is a growing number of investments in the field in Portugal, such as Carbocode that is investing Euros 80 million in its plant for R&D and for the production of sphingolipids that are essential for the nervous and gastrointestinal systems. The biotech industry in Portugal is booming with successful companies such as Lymphact that develops cancer therapy and Swedish giant Recipharm that bought a Portuguese CDMO company. Other successful Portuguese companies include Bial that is the largest pharmaceutical company and is based in Porto as well as Immunethep and Biotrend that are both based in Coimbra. Biotechnology involves science and technology for developing innovative products. It is a sector that requires highly qualified teams and nearly 60% of employees are women that are under 35 years old. The Technological Park of Cantanhede is an example of how universities are working towards producing economic growth in the fields of science and technology. With the help of the universities of Coimbra and Aveiro, the municipality created a platform that is directly linked to industrial growth sectors. The Park, which includes research companies that account for 40% of the sector of biotechnology in Portugal, showcases how government policies are shaping Portugal’s economic future. Source: https://www.portugalbusinessesnews.com/post/biopharmaceutical-portugal

France is the second main source of Foreign Direct Investment in Portugal. Over the last seven years, French investment reached Euros 658 million, with 60% of that amount invested within the last four years. Moreover, for Made-in-Portugal products, France is the second main export market, with a share of 13.1% that accounts for Euros 8.320 million in 2021. The number of Portuguese companies exporting to France is growing and reached 5,500 in 2021. In 2020, statistics from INE showed that French subsidiaries in Portugal had a higher Gross Value Added (GVA) as a percentage of capital invested, the figure revealing the contribution of products Made-in-Portugal to the profitability of these companies. French companies have a diversified investment portfolio in Portugal, with the automotive sector attracting a major share. This is showcased by the presence of companies such as Renault and by the PSA Group that produces Peugeot and Citroën. The Stellantis Mangualde Plant (CPMG) is an automotive assembly plant located near Viseu in Central Portugal. Despite the pandemic, 2021 was the company’s second-best year. The plant produces 1.5 million vehicles with a production capacity of 357 vehicles per day. Other major corporations include Engie, a French multinational utility company which operates in the energy sector. Engie Portugal produces electrical and thermal energy and operates under five different companies. These include TRUSTENERGY, the second major operator in the field of electrical energy in Portugal that holds 10% of the country’s wind production as well as HEMERA that supplies solar photovoltaic systems. The France-Portugal trade balance is advantageous for Portugal’s economy, both in the sectors of goods and services produced. Companies such as Airbus, Air Liquide, Faurecia, Stellantis, BNP Paribas, Altice and Teleperformance have all led to wealth creation. French investment is now leading several economic sectors in Portugal with the amount of capital invested in its Portuguese subsidiaries. This includes companies operating in sectors such as construction, real-estate, commerce, transport and warehousing, where they are also the main sources of employment. French companies have created over 30,000 jobs in Portugal, since Portugal has a workforce that is multi-lingual and qualified and is endowed with quality infrastructure. France is also the fourth source market for the Tourism Industry. Linkages with France are so entrenched that 20% of French people would be happy to live in Portugal, according to a recent study by OpinionWay. With increasing Foreign Direct Investment flows to Portugal, France is in turn becoming an export market that benefits the Portuguese economy. Portuguese companies’ success stories are being recognized and those with the highest Portugal-France export figures will receive a trophy on the 13th of October in Estoril. Companies that are nominated for the Trophies include Gardengate and José Júlio Jordão for exports. The SME trophies include Caxamar as well as Desafios em Sintonia that produces Personal Protection Equipment certified by Infarmed. The company nominated for the Investment trophy is AR FRANCE INVEST (ARFI) that is a real-estate promoter. ARFI is a Portuguese group that is a subsidiary of Alves Ribeiro, which operates in the Construction Sector. In terms of global FDI flows towards Portugal, a historical record was set in 2021 with investments reaching Euros 2.7 billion. Meanwhile, the France-Portugal partnership is strengthening with steady economic growth trends. Source: https://www.portugalbusinessesnews.com/post/france-portugal-trends

The Government of Portugal is launching an online platform to boost exports of Made-in-Portugal products. Portuguese suppliers that would like to use this new platform to promote their products are invited to register online. The Portugal Concept Store is a new export platform that will soon be launched for the French and Spanish markets to promote the Made-in-Portugal brand. The future is made of sustainable products that are created by generations of craftsmen and that are developed by a nation where history and culture merge with new technologies. Portuguese Classics have stood the test of time while designers have developed exclusive accessories for niche markets. Timeless Portugal blends history and innovation, while every Made-in-Portugal product is like a bride’s finery: Something old, something new and something blue. Just like the beauty of ancient Portuguese buildings artistically covered with blue tiles, azulejos that are both ancient and vibrant with culture. Entrenched in history, Portuguese azulejos decorate Portuguese cities ever since King Manuel’s visit to Seville in 1498. Portugal is dressed in white and blue tiles ever since Europe discovered the finery of Chinese porcelain that became a symbol of wealth and exclusivity. The distinctive blue tiles that were first imported from the Netherlands are now part of Portuguese home décor products and accessories. The Portugal government is launching a new marketing tool for boosting exports in various sectors such as agri-business, personal care, fashion, home, decoration, toys, jewelry and perfumery. The Portugal Concept Store will focus on the authenticity of the Made-in-Portugal brand on the international market. The exclusivity of Made-in-Portugal products encapsulates the essence of Portuguese culture and history. Products that are the essence of Portugal, such as cork products, will be branded on the new Portugal platform. Cork production is not only a major industry, but it is also sustainable as the trees are not cut down when the cork is harvested. The lifetime of cork trees is around 270 years and cork is harvested every 9 years. Portugal is the largest cork producer globally and has led to one of the family businesses, the Amorim family, to be part of the Forbes list. It is the only Portuguese family that made it this on this year’s Forbes list of billionaires. While cork is better known for its use in the wine industry, it is also used for insulation and for the production of accessories. The motto of the Amorim Group is: “The Future is built every day.” With traditional products that are re-invented with exclusive packaging, Portugal’s olive oil, sardines and other healthy products are now exhibited on a single platform. The Portugal digital platform is a Concept Store that positions itself in the premium market segment. It is a B2C sales channel without costs that will showcase the heart of Portugal in international trade fairs. This will go a long way towards developing the Made-in-Portugal brand while developing new partnerships in different markets as, according to the most successful Portuguese enterprise, “The Future is built every day.” Source: https://www.portugalbusinessesnews.com/post/made-in-portugal

The IMF has just announced that it is upgrading Portugal’s GDP growth forecast to 6.2%. The IMF expects Portugal’s average inflation rate to be 7.9% this year. Portuguese Exports exceed Euros 50 billion between January and August 2022, which is a growth of nearly 26% compared to the same period in 2021. Compared to the same period in 2020, this accounts for a growth of 53%. According to INE, the major drivers of growth are Spain, the US, Germany and France. Spain is the main export market with a share of nearly 26% of total exports, followed by France with 12% of exports and Germany with nearly 11%. Concerning markets outside the EU, exports increased by nearly 30% compared to the same period in 2021. The main goods exported by market segment are machinery and apparatus with a share of 13% of total goods exported, followed by vehicles and transport equipment reaching nearly 12%. Portugal’s economic growth is measured by the significant increase in the value of goods and services produced compared to previous periods and underlines the soundness of the economy. Source: https://www.portugalbusinessesnews.com/post/portugal-growth

FinTrU, a RegTech company from Northern Ireland, UK, just announced that they will invest in Portugal as their new EU hub and that this will lead to the creation of 500 new jobs. The Regulatory Tech company that provides services to the Financial Industry has a turnover of £29m and is seeing a rapid growth since 2019 when its turnover was £12m. FinTrU has selected Portugal for further expansion and has been designated as a project of National Strategic Interest by the Institute for Employment and Vocational Training of Portugal (IEFP). The FinTrU Porto office will be a client delivery centre, providing services directly to Tier 1 Global Investment Bank clients to design technology-enabled solutions that will help them meet their regulatory obligations. With a workforce of over 1,000 people located in Northern Ireland, Maastricht, London, Dublin and New York, the UK RegTech operates in the field of managing regulatory processes that include regulatory monitoring, reporting and compliance. The Financial Services sector has seen an increasing number of data breaches, cyber hacks and money-laundering activities. The use of big data and machine-learning technology allows RegTech companies to mitigate risks for the compliance department by providing data about online money laundering activities in real-time. Financial institutions that identify potential threats are able to minimize the associated risks and costs linked to data breaches. With cloud computing through Software-as-a-Service, RegTech companies ensure regulatory compliance by providing critical information to regulate the Financial Services sector. FinTrU was designated by the Financial Times as one of Europe’s fastest growing companies. The Financial Times, in partnership with Statista, included FinTrU in their FT1000 Europe's Fastest Growing Companies League Table in 2021. With headquarters in Belfast, the EU expansion of FinTrU through Portugal will enable employees to work across different global locations through the company’s interconnected offices. FinTrU Founder & CEO, Darragh McCarthy, stated that, after reviewing a number of European locations, Porto in Portugal was the best choice for their next client delivery base. FinTrU Chief of Staff, Katrien Roppe, also said they are working closely with AICEP “who were fantastic in demonstrating the opportunities that Porto has to offer: The highly-educated talent, the thriving business community and top tier universities on offer confirmed our decision.” FinTrU is developing a state-of-the-art 3,000 square meters office in Porto with a fully flexible and hybrid workspace to collaborate with colleagues both locally and globally. With expanded training and social spaces, the new FinTrU Porto office will empower employees to harness their entrepreneurial spirit in an environment that encourages innovation and connectivity. The city centre location will open before the end of 2022. FinTrU’s focus on technology will contribute to empowering the Portugal team to drive industry-disrupting, innovative solutions within the financial services market. The choice of Portugal as a RegTech hub will further enhance the country’s advantages as a preferred location for Tech-enabled operations. Source: https://www.portugalbusinessesnews.com/post/portugal-regtech

The Portugal Biotech Investor Day is organized by the European Innovation Council (EIC) and CUF that is part of the José de Mello Group. The event will comprise of health-related innovators working on Med-Tech, E-Health and Bio-Tech and will be held on 29-30 November in Lisbon. Companies that will be selected to receive funding will be selected by an investor jury from top European VCs and CVCs in the healthcare sector. Health-related companies will have the opportunity to pitch their business to top EU later-stage investors like Apex Ventures, Armilar Venture Partners, BioGeneration Ventures, Bionova Capital, Coparion, Clinical Research Ventures, Earlybird, Firstminute Capital, Mustard Seed Maze, Octopus Ventures, Pathena Investments, Redalpine, Seroba Life Sciences, Shilling VC and Sofinnova Partners. The EIC Business Acceleration Services connect investors and companies in Europe. For the upcoming Investor Day, EIC is collaborating with CUF that is the market-leader in the health-care sector in Portugal with over 11,000 employees. As innovation is at the core of its activities, CUF works closely with universities, scientific institutes and start-ups. Another upcoming event in the Health Sector is organized by the European Innovation Council (EIC) and the European Medicines Agency (EMA) on 31 January 2023. The online event will introduce support services provided to researchers and SMEs in the pharmaceutical and med-tech sectors. Companies that are innovative in the health-tech sector at different stages of development as well as those that would like to apply to the EMA services such as PRIME or Scientific Advice are invited to participate. EMA support services include gene and cell therapies and the Innovation Task Force (ITF). The Health and Bio-Tech sector in Portugal is attracting massive investments, such as Amgen the global pioneer in Biotechnology that just announced an investment of Euros 100 million in Portugal, and further developments in the field are to be expected. Source: https://www.portugalbusinessesnews.com/post/portugal-biotech