War is pushing tech projects away from Ukraine and there are already companies looking to Portugal – Observer

The return of war to European lands, with the invasion of Ukraine on February 24, also has consequences for the technological market of the ancient continent. Ukraine, the market where many companies have set up getting help from external sources Research and Development (R&D), which focuses on several digital transformation projects.

With the arrival of conflict, some companies getting help from external sources In Ukraine and neighboring countries decided to transfer projects to other countries – preferably far from conflict. The phenomenon was felt not only in Ukraine: due to the sanctions imposed on Russia, many technology companies decided to close their offices and end operations in the country of Vladimir Putin.

Portuguese Boost IT, a unit of Nexus Capital dedicated to near the beach, which provides technology services to other countries, is feeling the changes that the war has brought about in the technology landscape. In a conversation with the Observer via video call, Nuno Mello, Boost IT co-founder and CEO of Nexus Capital, explains that with companies looking for new locations for technology projects, Portugal has been one of the alternative markets to avoid the closest to the conflict.

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