Portugal news - In recent years, Portugal has emerged as a dynamic and attractive startup destination. With a supportive government, a growing talent pool, and a high quality of life, the country offers numerous opportunities for entrepreneurs, leading to over 4,000 startups and scale-ups calling Portugal home.
The video game and tech industries are particularly thriving in Portugal, but the nation's impact on the global games industry is seriously overlooked. Figures from Portugal’s Trade and Investment Agency, AICEP Portugal Global, show the country’s video game industry is expected to reach revenues of around $258 million in 2024, with an annual growth rate exceeding 11% by 2027.
The country has a growing number of successful game studios and tech companies, with Madeira-based cluster eGames Lab leading the way in fostering innovation within the space. From augmented reality changing how football fans watch live games to applying entertainment and gamification to recycling and waste management to better protect the planet, eGames Lab is leading the way in fostering innovation within the space.
The unique nature of video games in this context is their ability to bring together people and researchers from many different areas and backgrounds. This is where eGames Lab has curated collaborations between 22 private and public entities, bringing together a scientific board of over 60 academic professionals (that includes 18 PhDs, 14 MScs, and 12 post-docs) from multiple countries – including Portugal, Brazil, and Canada.
The consortium has support from games industry giants such as Sony PlayStation, Amazon’s AWS, and Alienware, as well as famed educational institutions like Carnegie-Mellon University in the US and New Zealand’s University of Canterbury.
How these entities can come together showcases the opportunities for gaming startups in Portugal. Through the support of a partner such as eGames Lab, which has already created 112 jobs and invested almost €30 million into the industry, startups can grow at a local and international level.
"Portugal is fast becoming a hub for gaming innovation and growth, with a talented workforce, and a collaborative ecosystem that brings together global industry leaders and academic excellence,” says Cláudio Pestana, Project Manager at eGames Lab. “The success of eGames Lab, in particular, exposes the potential for startups to thrive locally while reaching international markets. With our strategic partnerships and investment in talent we are investing in shaping the future of gaming."
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