Portuguese Government announces “Startup Visa”
Target: Indian Entrepreneurs and Engineering/ICT graduates
· Purpose of stay: R&D projects, creating or working for tech-based startups
The Portuguese Government announced today a “Startup Visa” for Indian Entrepreneurs wishing to launch their startups in Portugal and also aimed at graduates in Engineering and ICT. The “Startup Visa” is designed to facilitate the access to Portugal and the concession of work and resident permits for these specific categories of applicants for visas.
The announcement took place during the India x Portugal summit, an initiative of Startup Portugal and Startup India, which brought together several startups, incubators and investors from both countries, to pitch at the Bangalore Institute of Technology.
A full room of over one thousand Engineering students and people from the startup ecosystem in Bangalore listened, while Prime Minister Antonio Costa and Minister of State for External Affairs M. J. Akbar agreed to support greater collaboration between startups of both countries.
At the opening of the event, Secretary of State of Industry João Vasconcelos said: “more than 700 entrepreneurs came from India to Portugal for the Web Summit, last November. They helped us realize how Lisbon has become as competitive as London or San Francisco, when it comes to picking a place to start a company”.
During this event, an MoU was signed between Startup Portugal and Invest India with the following goals:
- Providing favorable business environment and necessary guidance to startups for their business in India and Portugal
- Co-ordinating with the Portuguese and Indian governments, investors, incubators, consultants, universities and research and development institutions for empowering the startup sector in both countries
- Assisting startups through their lifecycle with focus on important aspects like obtaining financing, market expansion, feasibility testing, business structuring advisory, enhancement of marketing skills, technology commercialization
About Startup Portugal
Startup Portugal is the Portuguese Government’s strategy for Entrepreneurship, launched in June 2016. More than fostering an entrepreneurial spirit, it aims to support those who are already entrepreneurs, ensuring the longevity of the companies created and increasing the impact they have on job creation and economic value. It means to organize, free up and promote the sharing of benefits, best practices and resources, identify regional and industry gaps. Devised as a four-year plan, it is focused on three areas of operation: Ecosystem, Funding and Internationalization.