Lisbon is featured for the first time in the Startup Genome Report 2017

By Made of Lisboa Mar 14, 2017

The Global Startup Ecosystem Report is arguably the largest worldwide research project in the startup area, providing a comprehensive look...

Lisbon is featured for the first time in the Startup Genome Report 2017

The Global Startup Ecosystem Report is arguably the largest worldwide research project in the startup area, providing a comprehensive look at how regions foster and sustain vibrant startup ecosystems. The report reveals how successful tech innovation is being led by young entrepreneurs all over the world. Its 2017 edition has just been published, and Lisbon is featured in it for the first time.

One of the major insights provided by this year’s edition of the Report is that, although the time to invest is now, the investment required is substantial: it's generally accepted that it takes at least 10 years (if not 20) for a vibrant entrepreneurial ecosystem to develop in a city or region. In New York City, for instance, where a vibrant startup ecosystem has only coalesced in the last few years, the seeds were planted at least two decades ago.

Lisbon is one of the youngest startup ecosystems in the world. It is truly noteworthy that, in spite of that youth, the 2017 report highlights strong indicators that Lisbon is experiencing fast and global growth. And while it is way too soon to expect a position in the top 20, it is now featured amongst the global ‘premier league’.

The Startup Genome Report 2017: Lisbon Highlights

• Valuation, Fast Growth and Seamless Integration
The 2017 report concludes that the Lisbon Startup Ecosystem is valuing at a fast pace, growing exponentially, and showing promising integration with more mature ecosystems across both sides of the Atlantic.

• Diversity & Gender Equality
Lisbon has the highest rate of female founders in Europe! And it’s also one of the European ecosystems with the highest percentage of startups with at least one female founder.

• Strongly Connected, Highly Attractive
Lisbon is the “Runner Up” in the Market Reach Index. This is demonstrated by the high average number of relationships Lisbon startup leaders have with entrepreneurs from global leading ecosystems, along with being one of the top 5 European ecosystems to which entrepreneurs from top ecosystem travel to, partially driven by global events like the Web Summit Lisbon 2016. Understandably, Lisbon ranks second in Europe when it comes to the percentage of startups that moved to our ecosystem from another country.

• Global Market-Oriented
A high percentage of startups targeting global markets, confirmed by a high rate of foreign customers outside Europe, shows that Lisbon-based startups and founders are focused on global business.

• Ideal Founder Combination
Early startup genome reports found startups with 2-3 founders significantly outperformed other founder combinations. Lisbon Ecosystem now ranks 3rd in the world, with 76% of Lisbon teams made of 2 to 3 founders.

• Higher Education
Lisbon has the highest percentage of founders with a Master’s or PhD (82%), on top of which a significant percentage of founders show tech background, along with a high percentage of developers with engineering degrees.

• A Global Brand with Local Community Impact
Made of Lisboa (www.madeoflisboa.com) is highlighted as a fine example of the kind of initiative that builds a global Brand with a strong narrative, local impact and a sense of community. The new brand and digital platform resulted from a co-creative process that involved the Lisbon-based community of stakeholders (incubators, accelerating programs, co-working spaces, maker spaces, investors, startups and founders).

Statement form Vice-Mayor of Lisbon Duarte Cordeiro
“Lisbon wants to be one of the most competitive, creative, and innovative cities in Europe. Our vision is to become a Global Hub for Innovation and Entrepreneurship, with an open heart to receive anyone that wants to develop their dreams, ideas and projects. Our entrepreneurial ecosystem is very young but looks ready for global growth, assuring us that we are working in the right direction. This is why it is so important for us to be included for the first time in the Startup Genome Report."
Duarte Cordeiro, Vice-Mayor of Lisbon

About Startup Genome (www.startupgenome.com)
The new Global Startup Ecosystem Report is out, featuring City rankings and global tech trends from Startup Genome.
The latest report highlights the work of 55 ecosystems to help startups and entrepreneurs grow. The results of the 2016 survey creates global insights and highlights local programs. Compiled from 10,000 surveys taken by startups worldwide and the knowledge and dedication of 300 partners, this is the definitive resource to measuring the key factors supporting startups.