What makes Porto a great city to scaleup a company/startup?

Porto is a place where history, culture and a soft pleasant weather meet modern life.

In the past ten years the second largest city of Portugal has been known not only because of its very famous Port wine but also for its growing entrepreneurship and innovation. Two examples of the city evolution at the startup scene are the recent interest of Hostelworld and Bottebooks to settle in the heart of Porto.

“(…) we love the fact that Porto — and Portugal in general — is a major destination to our customers and have some of the best hostels of the world”, Hostelworld’s CTO, John O’Donnell said.

Of course having some of the world’s most wonderful hostels in the city can’t be reason enough to install a startup in Porto. But that’s a starting point!

Bottlebooks found some other reasons to settle in, like the talent and training of the youth in Porto in the IT sector, the ability to communicate in different languages and the existence of programmes which aims to give support to foreign investment.

The qualified human labour of Porto is actually one of the most powerful arguments we have to persuade companies and startups to set up in the city. But if you are not yet fully convinced, here you have some points that demonstrate how awesome can Portugal’s second city be to scaleup your company:

• Porto is one of the most affordable major city in Western Europe. According to Porto.ForTalent, the living cost in Porto is 47% lower than Paris, 40% lower than Frankfurt, and 27% lower than Barcelona;
• The english speakers of Porto are the best in the country! That’s what EF English Proficiency Index 2017 said. Nowadays the Shakespear’s language is taught from the beginning of the primary level at public schools, or from the pre-school level in private schools;
• Since the beginning of Erasmus program in Porto, 30 years ago, the University of Porto has received 25.000 foreign students;
• According to The Financial Times, Porto Business School is on Top 60 of the European Business Schools Rankings;
• The University of Porto is in the 227 position of The Center for World University Rankings’ 2018 edition;
• According to Porto.ForTalent, Portugal has one of the most competitive tax regimes aimed at attracting non-resident qualified professionals and high value-added activities worldwide;
• Portugal is rising on IMD World Competitiveness Ranking! We’re the 33rd on 2018 edition;
• Porto was elected the European Best Destination for 3 times (2012, 2014, 2017);
• The New York Times has placed Porto as one of the safest destinations in the world.

Those are some of a million reasons to scaleup your company or startup in the second largest city of Portugal! But if you want to double-check you can always ask several other companies that are now placed in Porto (Hint: Euronext, Natixis, Vestas, Xing, InterNations, Superhuit, etc.)

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