“Entrepreneurs looking for a way forward”: Building Dengun Startup Studio

In this edition of #IncubXdiscoveries, we speak with Miguel Fernandes, CEO of Dengun Startup Studio, a dynamic incubator built to support entrepreneurs in transforming their ideas into scalable businesses. Miguel shares the journey behind the studio’s creation, its focus on technology and growth, and how they help startups scale globally through hands-on support, from product development to securing investment.

This content is available in Portuguese.

– How did Dengun Startup Studio come about? What kind of projects do you incubate?

Dengun Startup Studio was born out of the natural evolution of Dengun, a digital agency with strong expertise in growth, technology and go-to-market. With a practical, results-oriented approach, the studio was created to support startups from idea conception to execution and scale. The focus is on early-stage startups with global growth potential, helping them build sustainable products and growth strategies.

Dengun Startup Studio was born before Dengun even existed. Before we had an agency, a product development company or a recruitment unit, we were just entrepreneurs looking for a way forward. We tried to create startups, but we couldn’t find the resources we needed – mentors, investors, management know-how, co-founders aligned with our vision. In the Algarve/Portugal, in 2004 and 2005, it was even more difficult to access this kind of support.

It was then that we realized a simple truth: if there was no ecosystem to help us, we would have to create it ourselves. And so Dengun was born, starting from where we could and, over the years, building the essential pieces to turn ideas into sustainable businesses: a digital agency to boost brands and scale startups, a technology unit (Product Builders) to develop robust digital products and a recruitment company to secure qualified talent.

In retrospect, everything we built was, consciously or unconsciously, the ideal setup for creating and launching technology-based startups – not just for us, but for any entrepreneur with an ambitious vision. Today, Dengun Startup Studio is that machine we wish we’d found at the beginning.A strategic partner that gives entrepreneurs everything they need to turn an idea into a scalable business – from development and validation to growth and attracting investment.

– Do you have any areas of specialization?

Yes. Dengun Startup Studio has a strong focus on technology, growth hacking and digital products. The areas in which we have developed the most projects include: AI & Automation, SaaS, Marketplaces, E-commerce and Scalable digital products (social media, etc).

– What does your incubation model consist of?

Our incubation model is hands-on and personalized, focusing on several key areas.We work side by side with entrepreneurs who have already created and sold companies internationally, helping to define strategies and collaborate closely. Rapid validation of the idea and business model is a priority, as is building MVPs and technological development. We also support startups in defining go-to-market and growth strategies, helping them to scale. In addition, we offer access to a network of investors, partners and experts, along with direct mentoring from experienced founders and Dengun specialists.

– Tell us the story of a startup that made a difference in the incubator. And where has incubating with you made a difference?

WizDen.io, one of the most recent startups incubated by Dengun Startup Studio, represents the impact of incubation well. It’s a SaaS product in the AI & Automation space for support teams.The startup began as an internal Dengun project and quickly validated traction in the market, with support from the studio to accelerate go-to-market.

Dengun Startup Studio’s differentiator was the agile construction of the product, supported by the internal tech team. Next, we created a growth-oriented strategy, ensuring that the startup entered the market with a solid plan. Finally, we sought access to early adopters and strategic feedback. Today, WizDen.io has already presented at Web Summit 2024 and is preparing for international expansion.

– Failure is also part of the journey. What do you learn most from something that didn’t go well?

Like any startup studio, not all bets turn into success stories. One of the biggest lessons learned was the importance of testing market viability before investing too much in technology.

In one specific case, an incubated startup developed a very advanced product from a technical point of view, but the market wasn’t ready to adopt the solution on the scale expected. The big lesson here was to reinforce the need for constant validation with real users, a focus on product adoption before scaling technology and more flexible business models to adapt to the market.

– What is the differentiating factor of your incubator?

Dengun Startup Studio’s main differentiating factor is its studio approach, which goes beyond traditional incubation support. Instead of just providing space and mentoring, the studio enters the process of building and validating the product side by side with the founders.

Our main differentiating points include a focus on Growth and Go-to-Market, where we help startups validate and scale quickly. We offer direct access to an in-house engineering, design and growth team, guaranteeing technical and strategic support. We also establish connections with investors and strategic partnerships, and above all, we provide a hands-on experience, with real execution, not just theory.

– How do you look after your community and what plans do you have to make it more cohesive?

The community is essential to Dengun Startup Studio. Some of the initiatives include the Dengun Founders Program, a support program for early-stage founders; or active participation in our own and third-party events such as Web Summit, ATH Summit, Productized, among others. The aim is to continue strengthening the innovation and entrepreneurship ecosystem in the region.

– What are the main challenges for incubation in your context?

The main challenges for incubation in our context include international scalability from Portugal, as many startups need quick access to international markets. Attracting tech talent is also a constant challenge, especially when it comes to finding and retaining specialized professionals. Finally, investment is a critical factor, with early-stage funding needed to support promising startups.

ABOUT #INCUBXDISCOVERIES

#IncubXdiscoveries is Startup Portugal’s monthly feature that will help you discover Portuguese incubators. What projects they incubate, how they manage their community and what success stories they’ve had and future projects are some of the topics covered in these interviews.

If you’d like to find out more about Dengun Startup Studio, either because you’d like to see your project incubated in this region or because you’d like to establish a partnership, contact the Startup Portugal team at incubadoras@startupportugal.com.