Call WIT

What is Call WIT – Web3 Innovations in Tourism?

• Call WIT – Web3 Innovation in Tourism aims to invest in technology-based projects with a high potential for growth and valorization, which are at the forefront of Web3 innovation in Tourism and Hospitality.
• This investment is aimed at startups in pre-seed, seed or series A stages, with bold ambitions to integrate Web3 into the tourism and hospitality sector.
• Investment tickets between €200.000 up to €1.5M, equity only, no tokens.

Applications are open until July 28!

Scope

In the technology field, progress often unfolds in gradual increments, occasionally marked by leaps of substantial impact. We stand at the threshold of another notable transition as millions of individuals and businesses embrace the shift towards Web3. This paradigm shift offers unprecedented opportunities, harnessing the power of decentralization, transparency, tokenization, and enhanced governance inherent in novel business models.

At Portugal Ventures, we are deeply committed to identifying and supporting startups at the forefront of Web3 innovation in tourism and hospitality. From decentralized booking platforms to blockchain-based loyalty programs, these innovative solutions are poised to break traditional paradigms and unlock new levels of value creation. As well as improving customer experiences, Web3’s innovations have the potential to simplify operations and drive efficiency gains for companies in the tourism and hospitality sector through smart contracts, powered by blockchain technology. In addition, decentralized identity solutions offer a secure and interoperable way to manage customer data, enabling seamless authentication and personalization across different systems and platforms, and mitigating privacy concerns and regulatory risks while enhancing data security and compliance.  

We invite entrepreneurs and innovators with bold ambitions to seize this opportunity and join us in shaping the future of this dynamic industry.

In this Call we actively seek investment opportunities in startups, offering venture capital funding ranging from €200.000 to €1.5M.

Eligibility

1. Companies in the Pre-Seed/Seed/Series A stage
2. Technology + Sector Specific – Web 3.0 integration within the Tourism sector
3. Incorporated companies, HQ or a significant operational footprint in Portugal
4. Established team, led by Founders
5. Compliance with tax, legal and regulatory provisions
6. Product and market evidence (at least, MVP)
7. Candidates and companies must demonstrate compliance with the legal and regulatory provisions on money laundering and terrorist financing.

Submissions

• The applications must be submitted, exclusively, through one of the entities that are part of Portugal Ventures’ Ignition Partner Network;
• The application form, available on the Portugal Ventures website, must be duly completed in Portuguese or English;
• The application deadlines and relevant dates can be found on the Portugal Ventures website;
• If applicable, the application form must be accompanied by all the documentation requested in the “Attachments” chapter of the form.

For any further questions or information please send an email to: submissions@portugalventures.pt.

Selection criteria

The projects submitted will undergo an initial screening to assess their suitability and eligibility. The evaluation of each project will take into account the following criteria:

1. Management Team > technical skills and team management capacity;
2. Solution and Value Proposition > innovation type of the solution and how it will distinguish itself on the market;
3. Competition >main competitors, current and potential;
4. Competitive Advantages > competitive advantages and differentiation of the technology or product from those already on the market;
5. Product Roadmap >project development plan, identifying the major milestones until the goals are achieved;
6. Target Market > size of the current and potential market, characterization of the target market, and positioning of the company in the global value chain;
7. Business Model > revenue model and sales strategy;
8. Traction metrics and funding needs > indicators: users/customers/cost of acquisition, among others;
9. Exit strategy > potential to attract buyers interested in acquiring the company and/or licensing the technology;
10. Risk Analysis > How the main risks are addressed in the project.

Contact Application

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