Startup Madeira has been part of the regional ecosystem since 1997. As an incubator and driver of entrepreneurship and innovation in Madeira, we play a dynamic and cross-cutting role in education, the acceleration and ideation of ideas, and the transfer of knowledge. Encouraging entrepreneurship is extremely important as it stimulates innovation and the development of new business opportunities, boosting the economic growth of our archipelago.
Startup Madeira has been part of the regional ecosystem since 1997. As an incubator and driver of entrepreneurship and innovation in Madeira, we play a dynamic and cross-cutting role in education, the acceleration and ideation of ideas, and the transfer of knowledge. Encouraging entrepreneurship is extremely important as it stimulates innovation and the development of new business opportunities, boosting the economic growth of our archipelago.
The Startup Madeira support programmes offer tools and guidance, through theme-based sessions, events, workshops, and ideation and acceleration programmes, for local and international projects. Formats tailored to each theme, from tourism and leisure, gaming, research, blue economy, digitalisation, are designed with the aim of strengthening the local entrepreneurial ecosystem. We provide an enabling environment for the development of research, ideas, projects, startups, SMEs and investment.
As an incubator, we facilitate the access of entrepreneurs to funding, by sharing calls of available programmes and connecting them with investors (VCs, business angels, public entities, …), as is the case of our partnership with Portugal Ventures, which recently resulted in the investment in FootAR.
At Startup Madeira, we support entrepreneurs in tech sectors who have developed, locally, solutions for software development, big data, cybersecurity, mobile applications, digital marketing, gaming, smart cities, fintech, IoT (Internet of Things), augmented and virtual reality, e-commerce and other verticals, most of which are sold on the global market.
According to the latest statistical data shared by the Regional Government of Madeira, in 2021 there were 419 companies operating in the ICT area, with a turnover of around €520 million. Besides local entrepreneurs and investors, this data also indicates the growing appeal of this autonomous region in attracting foreign investment and new companies to Madeira International Business Centre. This momentum, in turn, increases job offers, helping to retain and attract young and qualified labour.
Attracting international startups helps position Madeira as an attractive destination for entrepreneurs, investors, researchers, digital nomads and remote workers. Since 2018, the acceleration programme Madeira Startup Retreat, held in partnership with Turismo de Portugal, has already seen five editions and brought together 50 international startups, from 25 countries, involving 155 entrepreneurs of 37 different nationalities. This year, the first edition of the Gaming Startup Retreat was held, with nine international startups from the video game and creative industries. Launched in 2021, over 16,800 digital nomads and remote workers are currently registered under the Digital Nomads Madeira Islands programme, with Madeira considered one of the top ten destinations worldwide for this niche market. A call will soon be opened, under the Blue Madeira HUB, to attract international startups developing blue economy solutions, offering an opportunity to explore the ocean and the benefits of the island in this sector.
