Portugal’s Tech Boom: A Collaboration Story with Austria at Web Summit

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Portugal’s Tech Boom: A Collaboration Story with Austria at Web Summit

At Web Summit, a panel discussed Austria and Portugal’s roles in the global tech scene. Ms. Amelie Gross, representing Austria, highlighted her nation’s focus on collaboration and attracting tech talent. She emphasized Austria’s skilled workforce and supportive ecosystem, while acknowledging challenges like capitalization and bureaucracy.

Mr. Pedro Siza Vieira discussed Portugal’s impressive economic growth, driven by consistent policies, investment in human capital and technology, and a robust telecoms infrastructure. He emphasized Portugal’s strategic location, connecting Europe to the Americas and Africa, and its welcoming environment for international talent.

Mr. Ricardo Arroja, from the Portuguese trade and investment agency (AICEP), elaborated on Portugal’s efforts to attract foreign direct investment. He highlighted Portugal’s development of intellectual property in sectors like advanced materials, ICT, and biotechnology. Mr. Arroja stressed AICEP’s role in connecting Portuguese companies with global opportunities and promoting Portugal’s skilled workforce and favorable tax incentives.

The panel explored the balance between attracting investment and maintaining regulatory oversight. Ms. Gross cautioned against excessive bureaucracy, citing GDPR as a potential hindrance to innovation. Mr. Arroja emphasized AICEP’s commitment to supporting projects with genuine market potential, ensuring responsible use of taxpayer money.

The discussion concluded with a focus on long-term investment and sustainable innovation. Mr. Siza Vieira traced Portugal’s journey from a middle-income to a high-income country, emphasizing the importance of attracting foreign investment, fostering innovation, and capitalizing on opportunities like renewable energy. Mr. Arroja stressed the need to avoid the middle-technology trap, urging a focus on high-tech initiatives to drive future growth.

The panelists expressed optimism about the future, emphasizing the importance of collaboration and a commitment to shared values like openness, freedom, and democracy. They highlighted the need for a united European front to navigate the evolving global landscape and tackle shared challenges.