Why Portuguese Founders Should Think Global Earlier
by Carolin Wais, Partner at Plug and Play Ventures
Why Portuguese Founders Should Think Global Earlier
As a Partner at Plug and Play Ventures, I have spent over a decade investing in early-stage technology companies across Europe, the Middle East, and the US. Over those years, the Portuguese startup ecosystem has consistently impressed me, not only as an investor but also on a personal level. I am married to a Portuguese VC and LP, and through that have developed deep professional and personal ties to Portugal’s entrepreneurial community.
What I see in Portugal today is rare. Highly educated, English-fluent founders with global ambition, strong technical depth, and a government that actively supports innovation. Portugal has quietly built one of Europe’s most attractive startup environments. The remaining question for many founders is not whether they can build a great company here, but how fast they can scale it internationally.
This is exactly where Plug and Play and the GOAL program come in.
Portugal Is Ready for Global Scale
Portugal’s startup ecosystem has moved from emerging to established in a very short time. Key data points from Startup Portugal 2024 show:
- 4,719 active startups, up 16 percent year over year
- €2.6 billion in total turnover, with €1.5 billion coming from exports
- One third of startups already operating internationally, with foreign markets accounting for 58 percent of turnover
From a VC perspective, this matters. Portugal combines capital-efficient company building with strong founder quality and supportive public policy. Incentives such as the Startup Visa and Tech Visa, alongside national programs to attract international talent, make Portugal one of the easiest places in Europe to build a company. At the same time, cost structures remain 30 to 40 percent lower than in Northern Europe, while engineering and product talent is fully comparable to Berlin, Paris, or London.
What is often missing is structured, high-quality access to global customers, investors, and partners at the right moment.
Why We Built the GOAL Program
At Plug and Play, our investment thesis is simple. Long-term value creation depends on a company’s ability to scale internationally. Early exposure to global markets reduces risk, accelerates learning, and significantly improves fundraising outcomes.
That is why we work closely with Startup Portugal and bring selected founders to our Silicon Valley headquarters through the GOAL program. GOAL is not a generic accelerator. It is a targeted internationalisation platform designed for founders who are ready to test their company on a global stage.
Through GOAL, founders gain:
- Direct access to Plug and Play’s global corporate network of more than 550 partners, including Fortune 500 companies
- Curated introductions to international VCs, corporate customers, and strategic partners
- Immersion weeks in Silicon Valley with structured meetings, office hours, and pitch sessions
- Mentorship from founders and operators who have already scaled into the US market
- Ongoing support from Plug and Play’s global Ventures team for follow-on fundraising and strategic positioning
Founders are expected to pitch, to meet customers, and to pressure-test their value proposition in one of the most competitive markets in the world. The program elements are designed around execution, business development, and fundraising outcomes, not demo days for show.
What Founders Gain in Practice
For founders, GOAL significantly shortens the path to international product-market fit. Many discover within weeks what would otherwise take 12 to 18 months of trial and error. Customer feedback becomes sharper, pricing assumptions are challenged, and positioning evolves quickly.
For investors, this process reduces risk. A startup that has already engaged US customers, corporates, or investors is materially easier to underwrite. Scalability is no longer an assumption, it is tested early.
One Portuguese founder recently told me, “Lisbon gives me focus. Silicon Valley gives me scale.” That sentence captures exactly why GOAL works. Portugal is an exceptional place to build. Plug and Play helps founders connect that foundation to global markets.
Thinking Global From Day One
Portugal is a market of 10 million people. The best founders understand that global ambition is not optional. They build products in English, recruit international teams, and validate their solution abroad within the first 12 to 18 months.
GOAL is designed for founders who already think this way and want to move faster.
This mindset matters because:
- Global ambition increases total addressable market and long-term valuation
- Early internationalisation accelerates revenue growth, especially in B2B SaaS and deeptech
- Startups with US or pan-European traction attract stronger Series A and later-stage investors
Companies like Feedzai, Sword Health, and Remote.com illustrate this path clearly. Each built core technology in Portugal and scaled internationally early. GOAL exists to help the next generation of founders follow a similar trajectory, with fewer mistakes and better access.
Why Portuguese Founders Perform Well in GOAL
Beyond metrics, Portuguese founders consistently stand out in our global programs:
- Strong technical education from institutions such as Técnico Lisboa and Porto
- Excellent English and communication skills with investors and customers
- A global mindset shaped by international study and work experience
- A collaborative culture where founders actively help each other
These qualities translate extremely well into Plug and Play’s ecosystem. Founders are credible, coachable, and execution-focused, which is exactly what global corporates and investors look for.
Looking Ahead
Portugal’s venture ecosystem is entering its next phase. Over the coming years, we will see more scale-ups, larger funding rounds, and stronger local funds capable of leading Series A and beyond. The opportunity for co-investment between Portuguese and global VCs is significant.
Plug and Play is fully committed to enabling this. We see Portugal not as a peripheral market, but as a strategic launchpad for global expansion. GOAL is one of the most concrete ways founders can plug directly into the world’s leading innovation ecosystem.
For Portuguese founders who want global reach without losing capital efficiency, and for investors who want internationally scalable companies built on strong fundamentals, the path is clear.
Build in Portugal. Scale through Plug and Play. And use GOAL as the bridge.
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