The booming Tech Start-ups in Lisbon are helping in revitalizing the economy of the city. Its property markets are also set to gain from this growth.
More and more
numbers of rundown buildings in Lisbon are being transformed by “Techpreneurs”. It also includes public funds for
working spaces and hubs for businesses
related to digital Technology.
At present,
there are now 50 plus co-working spaces in Lisbon as per Made of Lisoba, the
community for Entrepreneurs. Additionally, Tech workers are refurbishing
properties in emerging areas. Most of them are youth seeking affordable workspaces and homes to rent. This is
aiding to place neighbourhoods again on the property map. It is also assisting
in enhancing the prices of property and attracting more property and business
investors.
Lisbon today boasts of a sea or Tech talents both
locally and from overseas. It also has aid from the
private and public sectors in the form of initiatives, grants, and tax
incentives. The city is thus on its way to emerge as the top Tech hub in
Europe, as quoted by the Mansion Global.
Tourism is
further supported the property market growth in Lisbon. This is as per the Savills Buying Guide on Lisbon
published in 2018.
The hub for Tech
start-ups in Lisbon is thriving and getting established further.
A European Commission initiative EU Start-up Monitor has reported that Lisbon’s Start-up culture is not just a trend
anymore. It is emerging as one of the largest hubs for Start-ups in Europe
alongside Copenhagen, Paris, Berlin, and London.
The authorities
of Lisbon city have offered a former factory for being used as an incubator hub
called Beato Creative Hub. It will
offer workspace of 35,000 square meters.
In 2018, Google announced that it is launching
an innovation centre in Oeiras just
outside Lisbon. It is projected that this will create 500 plus jobs.
Google joins the
likes of Zalando the German online
retailer, Mercedes-Benz, and Volkswagen the automaker owning digital
hubs in Lisbon. Additionally, a Dutch streaming platform Mycujoo and an Estonian and American-based software company Pipedrive have opened offices here
recently.
The Tech
Start-up sector in Lisbon is growing speedily. Around 700 companies were launched in the high-tech sectors between 2014 and
2016. This is as per Made of Lisoba.
In 2018, there
were around 800 local and overseas
Start-ups of large size in the tech ecosystem of Lisbon. This is as per
Datascouts the data gathering company.
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