Lisbon’s Unicorn Factory to take startups to the next level

Startup accelerator Unicorn Factory Lisboa has launched its
inaugural Scaling Up programme, which will help several startups
embark upon an eight-month journey to grow and scale towards
unicorn status.

“Innovation is not an idea; innovation is a process,” declared Carlos
Moedas, mayor of the city of Lisbon, speaking about Unicorn Factory
Lisboa during Web Summit 2022’s Opening Night.

Unicorn Factory Lisboa is a startup accelerator located in Lisbon.
It provides scaleup-phase startups with resources, mentorship,
and networking opportunities.

It’s closely associated with Startup Lisboa, which has been in operation
since 2011, supporting more than 460 startups that have gone on to
raise €410 million and create more than 5,000 jobs.

What is unique about Unicorn Factory Lisboa is its focus on
scaleups. These startups have typically already obtained seed
funding, or have a product or service in operation, a team in place
and a clear growth trajectory, but need that extra boost to get
them to the next level.

The Lisbon mayor – who worked on innovation for five years in
Brussels – announced initial plans for the accelerator at Web Summit
2021. Now that Unicorn Factory Lisboa has launched, startups in
the scaleup phase will be able to join the program in early 2023.

This eight-month acceleration programme – with 28 investment
funds and more than 30 corporate partners supporting it – is
designed to help startups with a minimum viable product (MVP) and
help them grow and scale until, ideally, they reach unicorn status.

“They will meet the unicorns that are [already] in Lisbon; the
executives of those unicorns. They will have mentoring with the
big tech companies,” explained the mayor.

Is 2023, then, shaping up to be a good year for startups in Lisbon?
Perhaps yes. This is, after all, the city where – as Carlos put it –
“the impossible meets the possible”.

For more insight into Lisbon’s startup scene and beyond, download Web Summit’s Portugal Insights report now.

Main image of Carlos Moedas, mayor of the city of Lisbon, on Centre Stage during Day 2 of Web Summit 2022 at the Altice Arena in Lisbon, Portugal: Stephen McCarthy/Web Summit (CC BY 2.0)