Hello! Welcome to this week's edition of Startupt, your comprehensive source for the latest developments in Portugal's dynamic startup ecosystem.

In this issue, we delve into the notable declines observed in major stock indices over the past week. The NASDAQ, S&P 500, DOW JONES, and PSI have all experienced drops, driven by factors such as persistent inflation concerns, higher labor costs, geopolitical risks, and mixed economic data. These trends underscore the volatile economic landscape that startups must navigate.

Additionally, we celebrate the entrepreneurial spirit with stories of success and innovation. AskCory.ai's launch on Product Hunt, BHOUT's victory at the European Tech Competition, and OSCAR securing €6m in funding highlight the vibrancy of our startup community. We also spotlight significant initiatives like the Lisboa Innovation Award and the EU Sparks for Climate hackathon, which are fostering innovation and sustainability.

The feature story from flaming pie ECO magazine issue addresses the critical issue of higher education financing in Portugal. Daniel Traça, the incoming dean of ESADE in Spain, emphasizes the need for a sustainable funding model to prevent the exodus of young talent and ensure equal access to quality education.

As always, we encourage you to share your startup news with us and stay engaged with the latest trends and opportunities in the Portuguese startup scene. Thank you for being part of our community.

Portuguese universities lead in startup efficiency in Europe

The latest Redstone University Startup Index highlights the efficiency of Portuguese universities in startup creation. Among European countries with 3 to 9 universities, Portugal, alongside Hungary, averages 10.1 startups per €100 million university budget in 2023. This figure surpasses the benchmark of 16.7 startups and the European average of 6.6 startups per €100 million.

The data can indicate the effectiveness of Portuguese universities in promoting innovation and entrepreneurship. In comparison, Norway shows significantly lower efficiency, with 1.7 startups per €100 million.

Across 457 universities in 34 EU countries, the combined annual budget approaches €170 billion, facilitating the creation of over 7,500 startups through alumni founders and spin-offs. If European universities achieve their full potential, the annual number of startups could increase to over 23,000, potentially adding 150,000 startups to the European market over the next decade.

Rui Gouveia, CEO BuildUp Labs: I find this analysis a bit counter-intuitive. From my perspective and others from the entrepreneurial ecosystem with whom I've discussed the topic, it seems that the number of startups coming from Portuguese universities is pretty low. It makes me wonder if these impressive figures in the study are directly due to the universities, or rather in spite of them. This assumption, however, isn't addressed in the report. Another puzzling aspect is the absence of NOVASBE, University of Porto, and University of Minho/Braga in the study. These universities are usually considered among the most entrepreneurial in Portugal, according to a recent study from Startup Portugal.

Launching, winning, investing

◉ AskCory .ai has officially launched on Product Hunt, marking a significant milestone for the AI-driven personal assistant service. The platform aims to revolutionize the way users manage their daily tasks through advanced AI capabilities. For more details, visit Vitor Soares' LinkedIn.

◉ BHOUT emerged victorious in the inaugural “European Tech Competition” held in Lisbon. This competition, aimed at showcasing groundbreaking technologies, saw BHOUT's innovative solutions earn top honors. Read more at Mauro Frota's LinkedIn.

◉ The Portuguese startup Humanos, which developed a digital healthcare platform utilizing APIs, has won the ninth STEM4Health innovation event. This competition, organized by Bayer and supported by the Luso-German Chamber of Commerce and Industry, awarded Humans first prize. The startup will receive 12 months of mentoring from Marco Dietrich, Managing Director of Bayer Portugal, and Henrique Anneia, Bayer Spain's digital lead.. Detailed information can be found at Jornal Economico (🇵🇹).

◉ Karion Therapeutics won the top prize at Startup Braga acceleration program, recognizing their innovative contributions to therapeutic solutions. This accolade underscores their commitment to advancing medical science. More about this achievement is available at Rum.pt (🇵🇹).

◉ Control Space, which operates five storage facilities in Portugal with a total of 2,000 units for both individuals and businesses, has secured approximately €50 million to support its growth and expansion plans in Lisbon and Porto. Read more in Essential Business.

◉ JobsCopilot.AI is set to launch this week, introducing an innovative platform to streamline job searches. Key dates include a pre-launch on May 28 at Remote Jobs Braintrust Slack and a private launch on May 29 for the waitlist. JobsCopilot.AI aggregates job listings from over 400,000 companies, offering users personalized job matches based on their LinkedIn profiles and preferences. Future features will include automatic job applications, enhancing convenience for users. More details at Remote Work.

Lisboa Innovation Award Launches, EU Sparks for Climate, and Major Initiatives Drive Portuguese Startup Ecosystem Forward

◉ "EU Sparks for Climate" has launched as the first virtual hackathon focusing on climate change solutions. This initiative aims to bring together innovators and entrepreneurs to develop sustainable technologies. Detailed information is available at ANI (🇵🇹).

◉ EIT Manufacturing has announced the launch of a new initiative aimed at transforming the manufacturing sector through innovative technologies and collaborative efforts. This program seeks to foster advancements in manufacturing efficiency and sustainability. More details at EIT Manufacturing.

◉ The founders of IPLEXMED, a promising medical technology startup, have come together by chance to create innovative solutions in the healthcare sector. Their story and journey were highlighted in a recent podcast episode by Startup Braga. Listen to the full story at Startup Braga podcast (🇵🇹).

◉ Startup Alcanena hosted the session “Empreendedorismo e Inovação como Estratégia de Desenvolvimento Local” aimed at fostering entrepreneurial spirit among local startups and SMEs. This event provided valuable insights and networking opportunities for budding entrepreneurs. For more information, visit Radio Hertz (🇵🇹).

◉ INPI and Startup Portugal organized an event in collaboration with the local business community to discuss the importance of intellectual property for startups. This initiative aims to educate and support startups in protecting their innovations. Read more at INPI (🇵🇹).

◉ The Lisboa City Council and Unicorn Factory Lisboa are launching the “Lisboa Innovation For All” Social Innovation Award to find innovative solutions in the areas of health, education, and migration. The award is being launched during the Lisboa Unicorn Week – the 13th Lisboa Entrepreneurship Week, and applications for startups, scaleups, and entrepreneurs who want to present ideas or projects with the potential to create an impact in the city of Lisboa open on June 1st. For more details, visit Unicorn Factory Lisboa.

One book, two podcasts and Web3

◉ Portugal Ventures has announced Call WIT – Web3 Innovations in Tourism, an initiative to explore and invest in Web3 solutions within the tourism industry. This call aims to identify and support projects that leverage Web3 technologies to enhance the tourism experience. For more details, visit Portugal Ventures website.

◉ Last month, Armilar Venture Partners celebrated their yearly Investors Day, bringing together stakeholders to discuss investment strategies and the future of technology ventures. This event serves as a platform for sharing insights and fostering collaboration among investors and startups. More information can be found at Armilar.

◉ The Next Web (TNW) Conference, one of the main events in the tech calendar, will take place less then in a month, featuring keynotes and discussions on the latest trends and innovations in technology. The conference is a significant gathering for tech enthusiasts and professionals. Portuguese companies and entities that wish to participate, as visitors, benefit from 50% of the registration fee. Find out more ingormation on Portugal Global (🇵🇹).

◉ The book "The Power of Web3 and Virtual Worlds," authored by Filipe Pinho Pereira, has been released, offering insights into the impact of Web3 technologies and virtual worlds on various industries. This publication is a valuable resource for understanding the transformative potential of these emerging technologies. Source — Filipe Pinho Pereira in LinkedIn.

◉ In the latest Bitalk session, experts discussed the future of humanity in the face of technological advancements, exploring topics such as AI, virtual reality, and Web3. This discussion is part of an ongoing series aimed at unpacking the complexities of technology's impact on society. Watch the full session on Youtube (🇵🇹).

◉ The Founder Tales shared an untold story about the effort and challenges faced by entrepreneurs in building successful startups. This narrative provides valuable insights and inspiration for aspiring entrepreneurs. Watch the story at Founder Tales.

◉ Lurdes Gramaxo, president of Investors Portugal, discussed the current investment landscape and the organization's efforts to attract and support investment in Portuguese startups. Her insights were featured in O Jornal Economico (🇵🇹).

◉ Indico Capital Partners has announced the creation of a new fund dedicated to supporting early-stage startups in Portugal. This initiative aims to provide crucial funding and resources to help startups scale their operations. For further information, visit Brytfm Online.

◉ Essential Business published an article on the innovation wave in Portugal, highlighting why the country is becoming an attractive destination for tech startups and investors from aborad. The article explores various factors contributing to this trend, including government support and a vibrant startup ecosystem. Read more at Essential Business.

◉ The latest issue of ECO magazine, now on newsstands, features an exclusive interview with Daniel Traça, the incoming dean of ESADE in Spain. Traça addresses the urgent need for a new higher education financing model in Portugal to prevent the exodus of young talent seeking quality education abroad. He argues that maintaining frozen tuition fees perpetuates inequality and calls for economic and cultural shifts within companies to retain qualified graduates. More information — on ECO (🇵🇹)

⏩ What else? In brief

• As Europe's VC landscape evolves, new funds like Impact Shakers (€5m), 14Peaks Capital ($30m), Isomer Secondaries Fund (£20m+), and Junex Evergreen Fund (€100m) are shaping the future with significant investments. (RealRate)
• The list of 10 companies that are shaping the landscape of Portugal’s tech sector (Tech.eu)
• Sixteen years after Luxembourg's 2008 Life Sciences and Health Technologies Action Plan, the country's healthtech scene has flourished, transforming a nation of just 650k inhabitants into a European hub for healthtech innovation. (Sifted)
• “90% of VCs add no value to startups, 70% even harm them” — Vinod Khosla (Rubén Dominguez)

🛠️ Useful Tools For Startups

• How to structure an elevator pitch: Good guide for those who don't remember the whole pitch but suddenly needs to be pitching
• Agent.ai: A marketplace and professional network for A.I. agents and the people who loves them
• Deep Dive Playbook: The Psychological Playbook for VCs and Startups
• Scopebrite: Project manager copilot
• Copiloto: Transform your disorganized audio into structured ideas
• Codestral: Mistral anounced the code assistant (with terrible name!) based on its LLM

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".