Now hopes are high that this will accelerate investment in new ventures, and reverse a brain drain of young entrepreneurs following Portugal's deepest economic slump in 40 years. Portugal did not lack the expertise and energy to create tech startups, but the capital shortage meant that talent had to head abroad in search of funding. Young entrepreneurs gather at the Beta-i startup hub in Lisbon to brainstorm. Investors willing to take the plunge are finding they can hire talented engineers who speak English, the language of tech startups, at relatively low cost. There are also high hopes that some Portuguese engineers who founded companies or work at big tech firms abroad will return and channel their profits into young tech startups at home.

Source: The Star November 02, 2016 02:03 UTC