Challenges with innovation
MAP Virtual Week brought together dozens of speakers for a wide-ranging discussion on the impact of the COVID-19 pandemic on Portuguese companies and startups. Investment trends, the role of technology, and the challenges facing the social economy and sustainability were on the agenda for the week.
Now in its 10th edition, the Montepio Acredita Portugal Competition launched a pioneering initiative: “MAP Virtual Week.” The week—held online from October 12 to 18—featured presentations, debates, and mentoring sessions on the fundamentals of the entrepreneurial ecosystem and marked the first major initiative dedicated to entrepreneurship in the context of the COVID-19 pandemic in Portugal.
Fernando Fraga, Director of Innovation at Acredita Portugal, takes stock of this initiative “In a context of profound transformation and uncertainty that compels us all to rethink organizational models and adapt our businesses to the situation we are facing. Acredita Portugal’s experience in supporting entrepreneurs served as the starting point for us to embark on an ambitious and wide-ranging initiative—encompassing diverse topics and stakeholders—and to outline strategies for the future of entrepreneurship. This year, we wanted to go beyond the support we offer entrepreneurs through mentoring and guidance for the development of their projects, and facilitate a broad discussion about this ecosystem. I believe the outcome of this week is clearly positive: we identified challenges, addressed questions and concerns, and defined possible solutions to empower startups and entrepreneurs to achieve their goals.”
The first debate of the week, organized by Portugal's largest entrepreneurship competition, was dedicated to Impact of COVID-19 on Portuguese Companies and the way in which startups and SMEs can face and survive a second wave of the pandemic, in a panel discussion featuring Startup Portugal, Mazars, IAPMEI, and Turismo de Portugal. This was followed by the identifying the opportunities presented by the economic and health crisis, and how this can be leveraged in the coming years by a panel comprising Core Angels, Bravegeneration, and Portugal Ventures. Today’s business success has been linked to resilience, which is rooted in the ability to capitalize on the current landscape to address challenges through innovation.
The discussion continued with a Reflections on the Future of the Social Economy in Portugal by stakeholders in the field (Portugal Social Innovation, Padre António Vieira Institute, Aga Khan Foundation Portugal, and Banco Montepio). Given the changes in the sector and the need to adapt to a new reality, the emphasis was placed on collaboration. In a climate of uncertainty, it is imperative to make the most of resources and leverage the social economy network to meet needs.
On the second day, a presentation by Birds and Trees on how the Digital transformation is changing the way companies operate. Preparing and adapting a project to this new reality is no longer about implementing digital transformation, but about accelerating it. Organizations must digitize their management and business models, connecting technology and people to become more resilient and agile and take advantage of the opportunities in this “new normal.”.
The discussion continued with a reflection involving Milk Dynamics, Science4you, and AICEP on the the biggest obstacles to the internationalization of companies and to Portugal's emergence as a player a key factor in global entrepreneurship in an increasingly digital world. Despite the challenges many face in adapting to other languages and cultures, securing specific funding, and making their first sale, the panelists were unanimous in pointing out that not exporting is a mistake. Achieving a global foothold will require innovation.
The founders of Pelcor and Recibos Online tried to answer the question “What Comes After Exit?” and what happens to the entrepreneur after stepping away from the project they helped launch. The answer lies in drawing on that experience—including both the successes and the failures—and leveraging those skills and competencies for future projects and new ideas.
The KCS IT team pointed out emerging technologies that will change the way businesses operate and help save traditional businesses, noting technological conservatism in some sectors and companies that view technology as out of reach. It is impossible for a business to survive without a technology strategy capable of driving growth and attracting new customers. Technology has played a prominent role in the emergence or consolidation of businesses that overcome constraints using technological tools and platforms.
On the third day of MAP Virtual Week, IAPMEI focused on the support programs for entrepreneurship, existing programs and application processes. The presentation highlighted the National Strategy for Entrepreneurship—StartUP Portugal—which aims to foster an entrepreneurial spirit, support projects, and ensure the longevity of businesses, thereby increasing job creation and economic value. The opportunity provided to entrepreneurs by the Startup Voucher program was also emphasized. The strategy also includes complementary support, providing technical and financial tools to empower projects still in the idea phase.
One of the first challenges of entrepreneurship is capital. When seeking financing, what investors really want to hear And what do you need to know at this stage before starting your search? Bynd Venture Capital highlighted the responses regarding investment criteria, which include technology/product, traction/prototype, market/competition, team, and investment terms. Although it may be a thankless task, it is essential. Any startup If it has ambitions, it will have to participate in capital-raising rounds.
How do investors and big corp How do they view failure? Is a project that didn’t succeed a permanent mark on an entrepreneur’s resume? Representatives from Bynd Venture Capital, Olisipo Way, Skinerie (Sonae Group), Bayer, and EDP shared the view that an entrepreneur who has experienced failure will be able to learn from it, will gain more confidence, and is unlikely to repeat the same mistakes. In relationships between entrepreneurs, investors, and partners, it is essential to invest in persistence.
Inventa International was tasked with defining how intellectual property can be protected, distinguishing between concepts such as copyright, patents, trademarks, and designs, and explaining What to do if your idea is copied.
The Future of Entrepreneurship in Portugal was in the spotlight yesterday. Now that Portugal is a “Startup Nation,” what are the next steps? The current context has “pushed” many people toward entrepreneurship, and it is not yet clear how the ecosystem will adapt to the many small projects launched at a very early stage. The National Network of Incubators, Cron.Studio, IAPMEI, and Acredita Portugal have joined forces to highlight the importance of initiatives that not only recognize new projects but also support and mentor entrepreneurs.
Spring Up Europe, the Empreendedora.Eu podcast, and Business Experience attempted to evaluate Why are there still so few female CEOs?. In addition to individual and social issues linked to tradition and prejudice, there is the challenge that, since there are no recognized female managers, it is more difficult for other women to aspire to follow this path. There is no single, obvious answer to this challenge; organizations must therefore develop their own “formula” to promote gender equality, eliminate barriers in this area, and embrace female leadership styles.
The founders of the now-defunct Zercatto and Nozomi projects attempted to respond to the What to Do After a Project Fails. The view, shared by both entrepreneurs, is that it is necessary to view the experience as a learning opportunity so that, in a future project, they can identify warning signs that point to past failures and ask the right questions. Crucial is the entrepreneur’s conscious decision to surround themselves with people who demonstrate that there is a “next step.”.
The final panel of this MAP Virtual Week sought to define the the role of entrepreneurship in the context of sustainability, specifically in water treatment, distribution, and processing. The challenges related to innovation identified—during a discussion with Águas de Gaia, the Order of Engineers, BeWater Group, and the Portuguese Environment Agency—were climate change, more efficient water resource management, and new forms of water supply, for which synergies must be sought between stakeholders from various sectors and strike a balance between tradition and innovation.
On the 16th, Inês dos Santos Costa, Secretary of State for the Environment, participated in the opening of the gala for the 10th edition of the Montepio Acredita Contest, which selected the winners from among 10,640 submitted ideas. The official highlighted the government’s vision regarding the role of entrepreneurs on the path toward a more sustainable Portugal, stating that it is “It is through initiatives like this one from Acredita Portugal that we create opportunities to ask tough questions and understand how the proposed solutions address them.”, challenging the candidates to use their ideas, drive, and business acumen as a way to demonstrate what can be achieved.
Social Entrepreneurship Award, sponsored by Banco Montepio
Stop Bullying - The concept of bullying It is introduced to preschool-aged children through Marcolina the Stork. Using a book and a board game, the program helps children ages 3 and up develop positive habits and behaviors to prevent and combat bullying, based on fun activities and challenges.
Brisa Mobility Award 2020
BipBip – A free, intelligent platform for acquiring customers that knows at all times which trucks are empty, their routes, and their locations. This results in a matching between the customer's request and the nearest empty truck traveling that route. This results in fast and affordable quotes for the customer, while maximizing the profitability of carriers' fleets. BipBip 24/7 eco-friendly.
K.Tech Award
Dime – A platform that aims to transform the sports talent market. It is the social network that reinvents the way players showcase their skills digitally—through video highlights—using artificial intelligence to balance the supply and demand for talent on a global scale.
H2O Innovation Award by Águas de Gaia
SCEMAI – Maximizing energy efficiency and monitoring malfunctions using artificial intelligence models and data analysis, thereby optimizing production.
General Category | Innovation
ChargeSurfing – A private network for charging electric vehicles. Cardless, international, compatible with all charger and vehicle brands. Anyone with the right location, anywhere in the world, can join the network and become a Host for electric mobility, supporting the energy transition and making the most of the available space.
General Category | Product
Four Bites - Miscellaneous subscription service snacks healthy options, tailored to the customer’s world and delivered where they need them most. How? By identifying preferences and tastes, the AI algorithm personalizes the experience; customers receive regular deliveries of Bites and have the option to give feedback and access the youniverse.
General Category | Education
Growappy - Solution web e mobile which modernizes early childhood education by streamlining day-to-day operations at schools, simplifying management and communication with parents, and recording and sharing children's daily routines and learning experiences in an innovative, real-time manner.
In addition to the awards in these categories, another honor was also presented:
– The Born from Knowledge – Awards, a special award presented by the National Innovation Agency (ANI), was given to the project Unit Layer, which aims to study the effect of microgravity on the human genome and cancer cells using aerospace vehicles, in order to analyze the conditions and changes in these cells with a view to developing a therapeutic alternative for a prevalent and lethal disease such as cancer. This award, presented at some of Portugal’s most prestigious innovation competitions and/or awards, recognizes projects and companies “born of knowledge” that stand out in research and development (R&D) activities, particularly collaborative ones.
About Acredita Portugal
Acredita Portugal is a non-profit organization focused on the development and promotion of national entrepreneurship. It was born in 2008 with the mission of fostering a culture of possibility to unleash the entrepreneurial potential of the Portuguese, seeking to develop the entrepreneurial spirit and perseverance of the Portuguese who believe in their projects but who lack the opportunity to realize them. Additional information at https://acreditaportugal.pt/.