This is the number of companies that requested the true startup “seal” and obtained it, under Portuguese legislation approved last year. Form to request online status has been available since December.
The form to apply for the startup title in Portugal has been available online since the beginning of December, but in three months only eleven companies have requested this status and received approval, under the law.
“The recognition process came into force after the publication of the ordinance, in December 2023”, an official source from Startup Portugal explained to Jornal Económico. It is possible to do this through Startup Portugal’s own website or even via the e-Portugal platform.
This is a necessary process so that they are part of the official list of Portuguese startups and, therefore, can have the associated tax benefits and other support for entrepreneurs. According to the State organization, “it is a fundamental tool for mapping and accounting for the contribution of companies with high growth potential to the Portuguese economy, an important step in the design of public policies to promote national entrepreneurship.”
Source: Startup Portugal / e-Portugal
What are the requirements for recognition as a startup, according to Law No. 21/2023?
- Be an entity legally constituted in Portugal
- Be under ten years old
- Have less than 250 employees
- Have less than 50 million euros in turnover
- Not be the product of a split or transformation or division of a large company, not having in its capital a direct or indirect majority shareholding of a large company;
- Fulfill one of the following conditions:
- Be an innovative company with high growth potential, with an innovative business model, products or services, and which has been recognized as suitable by ANI – National Innovation Agency, SA, in the practice of research and development activities or process certification recognition of companies in the technology sector
- Have completed at least one round of venture capital funding
- Have received investment from Banco Português de Fomento, SA, or from funds managed by it, or from its affiliated companies, or from one of its capital or quasi-equity instruments
If companies have been around for more than a decade, have more than 250 employees or more than 50 million in revenue and are qualified to hire employees under the Tech Visa Program, they can apply for corporate status. scale-upfor example.
Both – startup status and scale-up – allow access to the IFICI (Tax Incentive for Scientific Research and Innovation), the new tax regime for investment plans stock options or the increase in employment, entrepreneurship and innovation programs such as Avançar and Mar2030.
“Startup Portugal will continue to work with the responsible entities so that this list of benefits expands, in favor of a vibrant ecosystem that boosts the national economy”, guarantees the executive director of Startup Portugal, António Dias Martins.
