Portugal has 4,073 startups with a combined turnover of €2.3 billion and exports of €1.3 billion. This conclusion comes from Startup Portugal and consultants IDC and Informa D&B, who made the new calculations on the number and value of this type of companies in the country based on the Startups and Startups Law, which came into force in May.

Nearly four thousand national startups, in view of Law 21/2013 of May 25, employ 25 thousand people in the provinces of Lisbon (home to 1,822 startups) and Porto (643), as well as Setubal, Braga, Aveiro and Coimbra. Or Lyria. The average wage is 1,700 euros per employee, 37% more than the national average.

The majority of startups (84%) are located in an area that promoters call high-tech, knowledge-intensive services. In other words, the majority (3,278) operate in the ICT sector – ICT, which represents 61% of total startup sales.

In the last decade, only in 2020, the year of the pandemic, did the number of startups created increase. “70% of the total number of current startups were created in the past five years, with 2021 and 2022 reaching their peaks in startup creation, with 600 and 706 respectively,” said the report released Thursday during the Web Summit, which is being held in Lisbon.

The Startup Ecosystem Report 2023 also reveals that between 2019 and 2022, startup turnover rose by 24.4%, much higher than the 9.1% when considering the entire business sector and that nearly a third (26%) of startups grew Consecutively in the three years.