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Adamastor Weekly

Week 33

Transformative role of innovation hubs

CR

Carlos Resende

Expert Evaluator at the European Commission and Co-founder of Founder Institute Portugal.

4 min read

Fundão had been on my radar for quite some time, quietly simmering in the background. But it was a presentation by Toni Barreiros that truly opened my eyes to the depth and impact of the work being carried out by the municipality. It struck a chord, something I felt compelled to explore. A recent interview with the mayor, Paulo Fernandes, gave me the final push, and so here we are: today’s editorial was born.

In Portugal, innovation has long been synonymous with Lisbon and Porto. But a quiet revolution is underway in the interior regions, places often overlooked, yet brimming with potential. At the heart of this movement is Fundão, a small municipality in central Portugal, whose transformation offers a blueprint for how startups and innovation hubs can breathe new life into rural economies.

Under the leadership of Paulo Fernandes, Fundão has embraced a bold strategy: positioning itself as a hub for tech-driven entrepreneurship. Since launching its Innovation Plan in 2013, the municipality has attracted international tech companies, fostered local startups, and created qualified jobs in fields like software development, biotechnology, and AI.

This wasn’t just about economic growth, it was about reimagining the role of interior regions in Portugal’s future. By investing in infrastructure, digital literacy, and talent retention, Fundão turned its geographic isolation into a strategic advantage, embracing the #movetofundao motto.

Why It Matters?? Interior regions like Fundão face chronic challenges: depopulation, aging demographics, and limited access to capital. Startups and innovation hubs offer a counter-narrative. They bring: job creation in high-value sectors; talent attraction and retention, especially among youth; diversification of local economies, reducing dependence on agriculture or tourism; and global visibility, turning small towns into international players

And perhaps most importantly, they foster a sense of possibility of futures that don’t require migration to coastal cities.

Different strategies were used, for instance Fundão’s partnership with a coworking network in Lisbon, exemplifies how urban-interior collaboration can work. Entrepreneurs from Fundão gain access to Lisbon’s ecosystem, while Lisbon based startups are invited to experience remote work in the interior. It’s a two-way street that challenges the centralization of innovation.

Portugal’s interior doesn’t need charity, it needs vision. Municipalities must be empowered to create their own innovation strategies, supported by national policy and private investment. Fundão shows that with the right leadership, even the smallest town can become a startup powerhouse.

Another standout example is Guimarães, a city rapidly carving out its place in Portugal’s entrepreneurial landscape. With a series of bold initiatives aimed at fostering innovation, supporting startups, and attracting top talent, Guimarães is proving that ambition isn’t confined to Lisbon or Porto. In just two weeks, the city will host the second edition of Techstars Startup Week Guimarães, running from October 13–17. The event promises a dynamic lineup of talks, workshops, pitch competitions, and networking sessions. Last year’s edition drew over 500 participants and 40+ speakers and this year is set to raise the bar. Whether you’re a founder, investor, student, or simply startup-curious, this is your moment to plug into one of Portugal’s most vibrant innovation ecosystems.

As we look to the future of Portugal’s innovation landscape, let’s not just scale startups, let’s scale regions.

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See you at the next event

✍ Quote of the week

O país é visto em nome do interesse nacional, mas o interesse nacional é também o interior.”
— Paulo Fernandes

Week highlights go to:

Congrats

  • 👏 Unicorn Factory Lisboa has been distinguished at the European Enterprise Promotion Awards (EEPA)

  • 👏 Nova SBE won 1st place in the category - Investing in Entrepreneurial Skills at the EEPA

  • 👏 Metablue Solution and expressTEC among the winners of the Global Health Accelerator 2025

  • 👏 351 has been awarded the European Enterprise Promotion Award (EEPA) for Startup Weekends in Portugal

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A weekly read on Portugal’s startup scene. The raises, the launches, and the stories behind them. Every Tuesday by Carlos Resende, who’s curated it since 2017.

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