Portugal launches its first Tech Foundry

In his keynote, Ferreira said, “Deep tech is a key technology for the future of our economy, transforming scientific knowledge into solutions with real impact and global scale. Tech Foundry Portugal establishes itself as a strategic instrument to bring the country closer to that economy of the future.

“We want to support projects at the early stages of technological valorisation, helping them translate innovation into value propositions, identify concrete applications, and establish the first links with clients, partners and industry.”

What do we know about Tech Foundry?

The programme has been developed jointly through Startup Portugal and Hello Tomorrow. This means it is able to draw on the funding that Hello Tomorrow can bring and the work that Startup Portugal has delivered. It has just 40 places available, and those interested can apply from June. But there are some key criteria that must be met.

Tech Foundry Portugal is open to two profiles. The first is university or R&D centre teams with developed scientific research, ready to explore the industrialisation and market validation of their technology. The second is early-stage deep tech startups with proprietary technology.

There are two routes to being eligible from a company perspective. First, register as a legal company in Portugal. Second, maintain an active R&D location there; registration remains optional.

Participants must also be beyond the idea stage and preferably at TRL 4 (Technology Readiness Level 4) or TRL 5. TRL4 means that the technology has already been validated in a laboratory environment. Products must be working prototypes and not just theoretical proofs-of-concept.

TRL 5 takes that further and requires a product to have been validated in a relevant environment. Most organisations would see this as being at the beta or advanced beta stage. It ensures the product works as expected, is integrated and scalable. The latter point is critical for Startup Portugal. It requires companies to be highly innovative and scalable.

Tech Foundry is focused on several key domains. This includes: Biotech, Healthtech, Advanced Materials & Nanotech, Ocean & Marine Tech, Climate & Clean Tech, Advanced Computing & Electronics, Artificial Intelligence, Space & Aeronautics, Robotics & Autonomous Systems, Dual-use technologies and GovTech.

What is Tech Foundry offering?

The 40 successful participants can expect an intense programme. It will run for 4 months from September to December 2026. It will be a hybrid programme of in-person sessions in Porto and online support. That gives teams the flexibility to work at their own pace over the period of the Tech Foundry.

Hello Tomorrow will be the delivery partner. It has given more details, and the programme will consist of:

• Expert workshops on the key challenges of market entry, with tailored follow-up for each team after each module.
• Dedicated 1:1 mentoring with deep tech experts, including researchers, founders, investors and corporate executives.
• Continuous support from a dedicated program manager throughout the program.
• Assessment meetings: onboarding, mid-point check-in and final meeting to track progress and adjust each team’s roadmap.
• Corporate visit to a national industry player.
• Peer learning with Portuguese deep tech startup founders.
• Demo Day with investors and industry stakeholders.

Once the foundry ends, participants won’t just lose access. There is ongoing support over the next three months to see how they are doing, and an opportunity to appear at Hello Tomorrow Summit 2027.

Hello Tomorrow will also introduce teams to various investors and corporate partners. One of those investors is Deepbright Ventures. It has already announced that it will consider all of the participants and open up its network for potential co-investment.

How will this be funded?

There is no guarantee that any team that is accepted into this programme will receive any direct funding. Much will depend on how the projects evolve and the view of investors.

For those teams that come into the Tech Foundry via the IFIC Deep Tech programme, they will have already received some funding. According to Startup Portugal’s estimate, this could be as up to 6-7 of the available 40 places.

The IFIC Deep Tech programme is an initiative under the Recovery and Resilience Plan (PPR) and managed by Banco Portugues de Fomento (BPF). It has a budget of €15 million. Each IFIC Deep Tech team has access to an investment ticket of up to €750,000 in equity or quasi-equity, in co-investment with private parties.

It means that those teams have an edge over the others. Will Startup Portugal, Hello Tomorrow and BPF ensure that all teams get the same funding opportunity? This will certainly boost every team’s chances of success. For Startup Portugal to grow the number of tech unicorns in the country, early-stage success is critical.

Enterprise Times: What does this mean?

Portugal is courting tech startups in a big way. The SIM Conference and now this Tech Foundry are just part of it. Making changes to tax and aligning the education sector shows the government is ready.

Miguel Aguiar, Executive Director of Startup Portugal, said, “Portugal has scientific research of internationally recognised quality. What has been missing is the bridge between the laboratory and the market.

“That is exactly what Tech Foundry Portugal builds: four months of intensive acceleration, access to a global network of investors specialised in deep tech, and a direct link to BPF’s financing instrument. It is a complete pathway, not just another programme.”

It will take a year to see how this first cohort does. Are they the tech titans of the future? What tweaks will make them successful? What other levers can Startup Portugal pull to make this the most successful startup programme in Europe?

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