According to the World Bank, Portugal is particularly vulnerable to climate change consequences such as drought, flood and sea level rise.
Climate change is a very complex challenge that demands a systemic change in all steps of the value chain in any sector. This also represents a major opportunity for entrepreneurs, investors and businesses – and innovation has an important role to play in it.
More resources are expected to be poured into technologies to mitigate and adapt to climate change. Although Portugal is gaining a reputation as a technology hub, the Portuguese climate startup ecosystem is still in its early stages.
Compared to the broader early-stage tech sector, which counted 2159 active startups in 2020, 16% of the total number of startups in Portugal are classified as climate tech startups.
For now, Portugal is far from being home to a strong climate tech ecosystem – nevertheless, a few positive cases already exist and investment is growing.
Climate Technology Venture Activity in Portugal
The latest figures taken from the Net0 Platform show a growing trend in capital granted to Portuguese climate startups.
Almost 70% of total investment in climate tech startups in Portugal happened in H2’21 and H1’22. Even though Portugal is lagging behind compared to the rest of Europe, the fact that in a period of one year it has raised ~€203M out of the total ~€292M ever recorded suggests signs of rapid progress.
If Portugal is able to maintain this momentum, this could result in a fast growth of the national ecosystem.
Based on our climate tech taxonomy and the comprehensive profiles of each startup, we identified 346 active startups in Portugal, accountable for €292M.
Transport and circular economy are leading the board as the climate tech sectors with the most funding during this period.
- The emerging trends among Portuguese climate tech startups
- How different players are influencing the ecosystem
- How Portugal compares to other European countries.
- The regional distribution of funds
- Portuguese ecosystem – accelerators, events and investors
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Net Zero Insights helps policymakers understand the state of climate technology within their region
In the past years, climate technology has experienced a skyrocketing growth, specially in North America and Europe, where the Net0 Platform has identified over 44,000 climate tech startups from across all sectors.
The smart filters within the Net0 Platform help users simplify their search, as they can easily recognize climate tech startups by sector, location, funding, company size, challenge area and more. By using the wildcard match, users can also find startups by simply looking for specific keywords.
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