Portugal’s Rede Nacional de Incubadoras (National Incubators Network) has helped startups raise more than €373 million in 2020, according to information published in the “Monitoring Report of Portuguese Incubators of the National Incubators Network (RNI)”.
Companies with more than 12 months of incubation have a success rate of 89%, while the success rate for companies with over 24 months’ incubation is 85%, the report says.
The total investment secured by the network has continued to grow, despite a fall in the overall numbers of startups supported compared to the previous year, particularly in the Centre and North regions. And while the overall scale of the physical incubator hub network did not increase for the first time since 2016, virtual incubation was up about 40%, largely as a consequence of the pandemic.
“In a year as unusual as 2020, the survival rates of startups has only been retained thanks to the support of business incubators and their rapid response in the field”, commented RNI coordinator João Mendes Borga. “Most incubators quickly adapted to the new realities and were able to continue identifying funding sources and helping startups to internationalize”.
“Startups are innovative and fast-growing, but also high risk. Without the support offered by national incubators, their survival rates would be very different from what they are now”.