The Portuguese Government has approved Deep2Start, a new €60.6 million public funding initiative aimed at accelerating deep tech innovation and start-ups with high disruption potential. Set to launch in Q1 2025, the program is expected to mobilize a total investment of €110.6 million, combining public and private capital.
As part of the “Accelerate the Economy” Program (measures 15, 16, and 17), Deep2Start will support high-tech ventures capable of transforming entire industries through advances in science and engineering—particularly in strategic sectors like green energy and digital transition.
The initiative is split into two components:
1. Deep Tech Fund – €50M in public funds matched by an additional €50M from private investors. Partnerships are currently under discussion with Banco Português de Fomento, Portugal Ventures, and the European Investment Fund to manage and channel the funding.
2. €10.6M in targeted funding through ANI, Portugal Ventures, and Startup Portugal, which will support:
- Ignition funds to help transfer knowledge from academia to the market and finance early-stage deep tech start-ups.
- Vouchers for applying to the European Innovation Council Accelerator, a key EU initiative supporting innovative SMEs with grants and equity.
This move comes on the heels of the European Investment Fund’s recent announcement of €90 million in Portuguese funds to scale European start-ups, with a focus on deep tech and cybersecurity.
By addressing funding gaps and enhancing the resilience and competitiveness of its economy, Portugal is betting big on science-driven entrepreneurship to fuel the next wave of innovation.
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