I return from this week with a reinforced conviction: the local ecosystem matters. Deeply.

It’s where we start, test, fail, and build the resilience needed to reach bigger stages. It’s where founders learn to pitch without slides, build without sleep, and dream without limits. And it’s where global ambition is born; not in isolation, but in community. That’s why initiatives like Portugal Tech Week and Web Summit matter. They’re not just events, they’re bridges; Between local and global, Between early and late stage, Between what we’ve built, and what we’re building next.

Infrastructure, capital, talent, & policy. These four elements are the structural beams of any serious tech ecosystem and Portugal is aligning the pieces.

• the announcement of Microsoft’s 10B investment in AI infrastructure is more than a headline, it’s a signal that Portugal is ready to host the next wave of compute heavy, data driven innovation. Add to that the growing network of innovation hubs, coworking spaces, and university linked incubators, and you have a country that’s it’s building the roads.

• venture landscape is maturing, local funds are growing in sophistication and size, and international investors are no longer just flying in for Web Summit, they’re staying, investing, and co-building. The conversation is shifting from not only “how do we raise?” to “how do we scale?” Portugal is proving it can generate returns and ambition.

• Portugal has been positioning like a magnet for global talent. The TISRI regime,with its 20% flat tax and 10-year foreign income exemption is a game-changer for attracting founders, operators, and remote workers. But beyond incentives, there’s a cultural shift: young people are choosing entrepreneurship earlier, universities are embracing startup culture (see Luis Lamy’s article on Adamastor), and the diaspora is starting to look homeward with fresh eyes (initiatives like Outono are helping).

• and Policy. It’s evolving from passive support to active enablement. From startup visas to tax reform, from digital nomad frameworks to public-private partnerships, there’s a growing recognition that innovation needs air to breathe, and that regulation can be a catalyst, not just a constraint. The government’s role is evolving from gatekeeper to enabler, and I’m quite confident that entities like 'Secretaria de Estado da Digitalização’ will play a key role in this next chapter.

Where there’s consistent startup activity, talent and capital follow. And that cycle seems to be gaining momentum here in Portugal.

Talent follows opportunity. Capital follows talent. Ecosystems follow belief. And belief? We’ve got plenty of that.

My last notes for this week:

Granter’s win at Pitch 2025 — out of 2,725 startups — is a testament to the strength and creativity emerging from our ecosystem. It’s not just about visibility; it’s about validation.

Web Summit’s future in Portugal matters. The current agreement runs until 2028, but the conversation about what comes next should start now. The event is more than a big stage, it’s a window into the future and a source of inspiration for thousands. It’s a magnet for talent, capital, and ideas. And it’s a chance for Portugal to keep showing the world what we’re capable of. Ten years in, and the spark hasn’t faded. If anything, it’s burning brighter. Let’s make sure it stays!

Keep following Adamastor to stay up to date with our ecosystem.

See you at the next event

✍ Quote of the week

“If you’re not prepared to be wrong, you’ll never come up with anything original”

Ken Robinson

Highlights of the week

• 🔷 Deep-tech startups this one’s for you! The EIC Pre-Accelerator is open. If your innovation is lab-validated (TRL 4+) and you’re ready to scale, don’t miss this chance to boost your journey. Apply by 18 Nov

• 🔷 Movembering Porto Tech Hub happening on different locations in Porto

• 🔷 Launchpad Ignition program Apply by Nov 21

• 🔷 European Call for Mobility & Tourism Innovations, apply until Nov 23

• 🔷 Responsible AI Forum 2025 | Demo Day (Nov 25) by Center for Responsible AI

• 🔷 CyberIgnite: Workshop de Aceleração @ BSides Porto next Nov 28 & 29

• 🔷 Protechting open innovation program is looking for Startups in Insurtech, Healthtech, Tech, and Sustainability. Apply until Dec 05

• 🔷 Discoveries, the acceleration program that helps tourism startups grow, connect and go global powered by Fabrica de Startups is now open

• 🔷 Copenhagen’s new AI-first hackathon is accepting applications

Congrats

• 👏 STUDIOS.PT – Portuguese Venture Studio Association was official launched

• 👏 Microsoft announced 10B investment in Sines

• 👏 WindCredible won Global Pitch Sprint @Startup Portugal stand

• 👏 Portugal’s Granter secured the top spot at Web Summit 2025’s PITCH competition

• 👏 Lampsy won the UniVerse Pitch Competition

• 👏 FlamAid lança aplicação gratuita durante a Web Summit

• 👏 Galaxies won Electrico Pitch

• 👏 Cíntia Mano won the Golden Aurora Award 2025

• 👏 Health Hub was officially launched in Lisbon

Something to read, listen and watch

📚AI funding assistant Granter wins Web Summit 2025 PITCH

📚Startup SafetyScope usa IA e visão por computador para tornar videovigilância mais eficiente

📚Startup & Entrepreneurial Ecosystem Report 2025

📚Community for educational innovation - Entrepreneurial skills and mindsets in education

📚Startup Go to Market Strategy: How to Build a Category-Creating Company From Zero (Real Case Study)

• 🎧 Fundadores: a trajetória de Belmiro de Azevedo by Vitor Soares

• 🎥 Electrico Pitch by Portugal Tech Week (12 pitches)

• 🎥 Leading Through Disruption: How OnlyFans is Changing the Internet with Keily Blair

• 🎥 Celebrating with People Choice Rita Kastrati - doing the double by Canopy Community

💡Looking for your next spark of inspiration or connection? Discover what’s happening in the ecosystem—check out the Adamastor Events Calendar and find the perfect event that fits your goals, your vibe, and your stage. From founder meetups to investor talks, there’s something for everyone.