👋 Hello and welcome to this week's edition of Startupt, your essential guide to Portugal's startup scene. This is Sergei, editor and founder of Startupt. Let's see what we have this week for you.

Interview Spotlight: Martim Velez

We’re excited to share our interview with Martim Velez, who recently left Unicorn Factory Lisboa to start his own venture. Martim discusses the importance of innovation and the common misconceptions about startups. It’s an inspiring read for all entrepreneurs.

Ecosystem Reports Overview

This issue delves into two major reports. The "Global Startup Ecosystem Index 2024" and "Global Startup Ecosystem Report 2024" show Portugal slipping to 29th place globally, highlighting the need for strategic improvements. Despite this, emerging hubs like Braga and Leiria are showing promise.

Other Highlights

- Funding News: Bloop raises €850k for its e-commerce platform.
- Tech Innovation: Unbabel's AI model, TowerLLM, outperforms major competitors in translation accuracy.
- Opportunities: Apply for programs like Startup the Future and BlueTech Innovation to gain resources and network support.

Also check out our recommended podcasts, upcoming events and useful tools.

Thank you for being part of our community. We welcome your feedback and stories.

MESSAGE FROM PARTNER:

Portugal lost three places in annual Global Startup Ecosystem Index

Image credits: Startupt.co

Portugal's startup ecosystem has faced notable challenges over the past year, as reflected in the Global Startup Ecosystem Index 2024. The country has slipped to 29th place globally, down three spots from the previous year, marking one of the steepest declines among the top 30 nations. This drop underscores the need for strategic improvements to regain its competitive edge.

Lisbon, the country's primary startup hub, has seen a significant decline in its ranking. It now stands at 86th globally, a fall of 24 positions, marking its lowest ranking since 2020. Within Europe, Lisbon is ranked 24th and 16th within the EU, highlighting its struggle to maintain its status as a leading startup city.

Despite these setbacks, Portugal continues to have potential, particularly with emerging hubs like Braga and Leiria showing progress. However, the country must focus on enhanced government support, fostering innovation, and building strong ecosystems to improve its standing and compete effectively on the global stage.

🔗 Read the complete "Global Startup Ecosystem Index 2024" and "Global Startup Ecosystem Report 2024 by Startupt Genome" review on our website

INTERVIEW

Martim Velez: I think you need to have this period of building something new

Martim Velez recently announced his departure from his role as director of programs for scaleups & international growth in Unicorn Factory Lisboa to start his own startup. We talked to Martim about the motivation and misconception of people about startups.

🔗 Read full interview on our website.

Author: Dasha Luibimova

🙋 Unbabel, a tech company, founded im Lisbon, offering machine and human-based translation services, has developed an AI model called TowerLLM that outperforms OpenAI's GPT-4o and other leading AI systems in translating English to six major European and Asian languages. Tested against GPT-4o, GPT-4, GPT-3.5, Google, and DeepL models, TowerLLM showed superior accuracy, particularly in English-Korean translations, where it beat OpenAI's best models by 1.5%. While GPT-4 and GPT-4o slightly edged out TowerLLM in English-German translations, TowerLLM generally achieved higher accuracy. (Forbes)

🙋 Katchit, an all-in-one immersive game platform for brands, has partnered with Rock in Rio to bring an exciting mixed reality experience to festival-goers. This collaboration combines Katchit's gaming and digital marketing expertise with the vibrant spirit of Rock in Rio, promising an unforgettable immersive experience for all attendees. (Pedro Carneiro)

🙋 Delete Desk by Yorba — a startup incubated in Startup Lisboa, has launched on Product Hunt, and users are encouraged to upvote the service. This free directory aims to make the internet less annoying by simplifying the process of deleting invasive accounts. Delete Desk invites users to provide feedback on Product Hunt to help improve the product, which has been built for and with the community. Spread the word and support the initiative to clean up the web. (Upvote here)

Image credits: animaceumprum.cz

◉ In 2024, Startup the Future is targeting advancements in AI and blockchain for enhanced fuel value chains, advanced construction techniques for renewables, next-gen industrial efficiency and heat decarbonization, energy solutions for emerging markets, and pioneering mobility solutions in partnership with MINI and BMW. The winning startups will have the chance to participate in the Web Summit 2024 in Lisbon and collaborate with Galp on potential pilot projects, fully funded, following successful implementations in Portugal, Spain, and Mozambique in previous editions. (Apply here)

◉ The Innovation Summer School, in partnership with José de Mello, SONAE, and TEKEVER, is a two-week summer program designed to empower young talent and introduce them to the entrepreneurial world. Aimed at 14 to 18-year-olds from across the country, participants will develop ideas in groups, present them to a panel of judges with support from New York specialists, work on real business challenges with Unicorn Factory Lisboa's partners, and connect with other young people, startups, and experts. The first bootcamp starts on June 17th in Lisbon, with subsequent sessions in Porto and another in Lisbon. (Apply here)

◉ Startup Essentials, a free ignition program by Build Up Labs, is here to help with your business idea to develop into startup. This 4-day, in-person course is tailored for aspiring founders and entrepreneurs, featuring workshops on idea validation, business models, and sales. The program concludes with a Demo Day, where participants can present to key players in the ecosystem, including investors and mentors. (Apply here and more info)

◉ After its first edition in 2019, the BlueTech Innovation program has returned with applications now open for two new innovation programs. Developed by consultancy Beta-i in collaboration with Fórum Oceano, these programs are part of the Portugal Blue Digital Hub (PBDH), which aims to promote the green and digital transformation of the Portuguese ecosystem. BlueTech is divided into two strategic pillars: BlueTech Innovation and BlueTech Accelerator. BlueTech Innovation focuses on implementing pilot projects of existing technologies to address real challenges in the sector, fostering collaborative innovation between various entities. (Apply here)

🎧 Cintia Mano recently joined Prashant Choubey on his podcast VC10X to discuss the key differences between angel funds, angel syndicates, and VC funds. The conversation was engaging and informative, providing practical tips for beginners in angel investing and guidance on transitioning to a portfolio approach for those already investing. This episode is a must-listen for anyone interested in the investment space. (Listen on Spotify)

🎧 With just a few clicks, people can now open a bank account or apply for a loan from home, thanks to LOQR's innovative solutions. This fintech company, based in Varzea, is aiding banks in transitioning their products to the digital space. To learn more, tune into the latest episode of Startup Braga's podcast featuring an interview with LOQR's CEO Ricardo Costa. (Listen on Spotify)

🎧 Rafael Citadella Daron, founder and CEO of Tog Lab, shares his expertise in entrepreneurship, design, and innovation consulting on the latest PRODUCTIZED Podcast. In this episode, co-hosted by Margarida Cosme, Rafael delves into product management, emphasizing the importance of product validation, problem discovery, and experimentation. The discussion covers the critical role of product validation and experimentation for new products, the significance of educational programs like their joint Digital Product Management program with Católica Lisbon School of Business and Economics and Técnico+ Formação Avançada, the evolution of design methodologies to suit startups and product design, the various phases of cultural exchange and collaboration, and paths for personal and professional growth. (Listen on Spotify)

⏩ What else? In brief

• EUVC anounces winners from the first edition of the European VC Awards (EUVC)
• Publisher HarperCollins has acquired the global rights to "Drama Drives Interest: The Web Summit Story," a new book, focusing on Web Summit co-founder Paddy Cosgrave. (Irish Examiner)
• Sifted is in search of startups in southern Europe showcasing exceptional growth to feature on the Southern Europe Leaderboard. (Sifted)
• EU-Startups highlighted over 900 startup jobs in EU (EU-Startups)

🛠️ Useful Tools For Startups

• Lisboa Ecosystem Guide: With this book you can explore how Lisbon became the Home of the Believers. This comprehensive resource, available in physical format and PDF, dives into why Lisbon is a top destination for innovation and how to start and scale here.
• Inbox Ten: Meta CTO Andrew Bosworth shares his approach to the email and messaging. How to be informed and inform others.
• Inteligência Artificial Hoje (🇵🇹): portal dedicated to AI, offering resources such as tools, courses, events, and news.
• AI tools from Google: List of free AI tools, that help you translate content, analyze text, and label video.

Let us know what tools help you run your startup: hi@startupt.co.

That's all for today! See you next week. And don't forget to check your email on Monday — you'll find "7 questions for 1 startup".