Technological investments in Porto at record high in 2017

This year, technological and industrial investment in the city of Porto have soared.

In the past 3 months, there was a rising number of investments by foreign venture capital or private equity firms and tech businesses, in Porto, that make more than 1,600 skilled jobs and several million euros pumped into urban rehabilitation.

Secretary of state for industry, João Vasconcelos considers that Porto is undergoing a unique moment as both foreign and domestic investment are at a record high in the city.

"You hear Porto everywhere among businessmen and investors", says Secretary State for Industry.

The Euronext stock exchanges Group chose the city of Porto to establish a technology centre, complementary to the one based in Paris, and the new location runs in the same building as Interbolsa, a clearing and settlement company that integrates Euronext Lisbon.

Euronext moved from Belfast to settle in Porto. The IT Technologic Centre is located at Avenida da Boavista and will secure the trans-European Stock Exchange management platform of this important company. 

This investment in Porto results in the creation of 140 direct jobs. Highly trained professionals and engineers in the areas of Information Technology and development of new solutions and financial services.

Critical Software, one of the most important software companies in the world, whose client portfolio includes the United Kingdom Armed Forces, north-American NASA, the European Agency ESA, Chinese Agency CNSA and Japanese Agency JAXA, Vodafone, Deutsche Telekom, EDP (Energias de Portugal) and the Bank of New York, has established a new office space in the city centre. It is divided in five floors that cover an area of 1,800 m2. Its highly skilled workforce comprises 150 professionals in the areas of Information and Communication Technologies and Engineering.

The Founders Founders House is a 1300 m² house in Porto city centre. It offers office space to 13 tech companies. Currently, most residents are B2B product-oriented companies. 

With offices around the world in London, Shanghai, Sydney and Seoul, the recently awarded "Best Workplace for 2016" by the Great Place To Work Institute, Hostelworld will open an office in the city of Porto, creating quality employment for 50 people. 

Hostelworld Group is the leading global hostel-booking platform and it operates in 19 different languages. It has over eight million reviews across 33,000 properties in more than 170 countries. 

A new brewery was created in downtown Porto, generating employment in an economically depressed area - Fábrica de Cervejas Portuense - involving a total investment of approximately EUR 3 million.

Another fast growing business to come to Porto is Talkdesk, a cloud-based call centre software provider. Talkdesk is the world's leading cloud-based call centre software solution.

Also, company Bottlebooks, founded in 2013 by Jonathan Harclerode, who was former senior manager in Accenture's emerging technology innovation division, is a major business to come to town. The company provides a universal wine data solution, allowing information sharing and updating on products within the industry and associated importers, exports, wholesalers, retailers and wineries, as well as bottle shots.

The former Civil Government Building was renovated and currently houses companies from Technology and communication sectors to catering, fashion designers and hairdressers. District Offices and Lifestyle is currently providing office space to 55 companies, and able to house 66.

One of the most relevant investments in the city of Porto is probably Natixis, a French corporate and investment bank that is relocating a large part of the group to Porto, generating nearly 600 jobs over the next three years.

In addition, according to data from the Municipal authority, the municipality has made a significant capital gain of 20,860,133.32 euros, and the highest of the decade. The results will be released in the statement of accounts to be provided by the municipal executive.

In 2015, 1,722 companies were incorporated in Porto, 139 of which are industrial and 1,585 are services. The figures referred to in the text are to be found in PORDATA, the Database of Contemporary Portugal, organized and developed by the Francisco Manuel dos Santos Foundation.

Another study shows that Porto takes the leading role in the startup ecosystem. The Mayor of Porto, Rui Moreira, has set up a public body for investment undertaking in the city and in the region, Invest Porto.

The creation of skilled employment for the labour market geared by the setting-up of technology businesses is a reality. Furthermore, tourism creates unskilled jobs for the local community, which is crucial to support the real economy of the city.