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  • Portugal as a Technology Hub: A Centre for Innovation

Portugal as a Technology Hub: A Centre for Innovation

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  • Knowledge Centre
  • Portugal as a Technology Hub: A Centre for Innovation
7 March 2024

Portugal as a Technology Hub: A Centre for Innovation

Portugal as a Technology Hub: A Centre for Innovation

Key takeways

Innovation and technology as drivers of business success

Portugal as a rising technological centre

The importance of digital transformation and innovation for competitiveness

When we want to place a company on a level of success, innovation and technology go hand in hand. In recent times, digital acceleration has been inevitable and technological solutions have proved essential for organisations to adapt and optimise their strategies, offer customised products/services or automate many of the processes.

We live in a global market, with consumers who demand a unique, targeted and immediate response. Innovative technological solutions allow a deep knowledge of customer trends and needs to create assertive strategies aligned with the market.

Alongside this, Portugal has been standing out at European level for its fast-growing technological ecosystem. Startups that have become unicorns, technology companies on the rise, high quality universities and major events have brought recognition to our country, making Portugal increasingly appealing to entrepreneurs and professionals in the technology fields.

Lisbon, more specifically, is already a leading technology hub in Europe and, some have pointed out the Portuguese capital as the new Silicon Valley. Several factors make Portugal an attractive country, ranging from the high skills of the professionals, technical quality, language skills, competitive value against other countries, geographical location, as well as the standard of living and safety existing here. Portugal continues to have an attractive cost of living when compared with other countries, plus there are several government incentives for entrepreneurs.

So, here and elsewhere in the world, the technological investment will continue to be a reality (and a necessity), and Portugal is seen as a technological, innovative and entrepreneurial country is an advantage.

In an increasingly VUCA (Volatility, Uncertainty, Complexity and Ambiguity) market, having a greater knowledge of all the indicators allows us to adapt our strategy, make better decisions and react more assertively to market challenges.

There is no doubt that Portuguese companies, as happens all over the world, have been investing in innovation and digital transformation with a focus on competitiveness. We can even look at more traditional sectors, which today are betting on digital, as is the case of Banking or Legal, to respond to a consumer who has also become more digital, demanding and informed.

Portugal has become a centre for innovation, and we work from here to the world, helping a growing number of companies to develop and implement technological solutions that, regardless of the degree of complexity associated, have high-quality delivery as an ordinary requirement.

The bet on the qualification of young people must continue to be a priority, ever more urgent, in awakening interest in technological areas from an early age, but it is also up to leaders to develop the capacities of today’s professionals, to bet on their continuous training, as well as to create favourable conditions for retaining talent.

Undoubtedly, in this global market where changes happen at an impressive speed, technology assumes a powerful role in companies, bringing flexibility, agility and adaptability. Hence, betting on disruptive solutions brings intelligence to the centre of the decision and higher competitive advantages.

The future is today, and it is technological, and the companies that develop and implement this journey most effectively are the ones that stand out successfully.

 

Opinion article published in:

  • Business IT – July 2022

Autor

José Oliveira

José Oliveira

CEO

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