Portugal Startup News

Lisbon is set to host its 17th company valued at over one billion dollars, Mayor Carlos Moedas announced at the opening of Web Summit Lisbon, which runs from November 10 to 13. 

“On Thursday we are gonna launch our 17th unicorn of Lisbon here at Web Summit,” he mentioned on the stage of the Meo Arena. 

The mayor did not reveal the name of the new unicorn, but ECO speculates that, since he has scheduled a press conference with Upwork’s president and CEO, Hayden Brown, this could be the next company to join the city’s tech scene. 

According to ECO, the Portuguese AI Care company Sword Health, based in Porto, was the 16th unicorn to establish an office in Lisbon. At the end of July, Sword Health, led by CEO Virgílio Bento, opened an office in the Marquês de Pombal area and formalized its support for Moedas’ candidacy in the local elections.

Moedas hailed the achievements of Unicorn Factory Lisboa, Lisbon City Hall’s flagship innovation program launched in 2022 to position the city as a leading European innovation centre.

He also noted that it’s not just about unicorns, referring to 82 technology companies that have established themselves in Lisbon as a result of these measures and created more than 16,000 jobs.

Continuing his remarks at the event, where he has been present five times as mayor, Moedas added that he is working toward Lisbon’s future over the next ten years. 

He highlighted the role of social justice as well as culture and art in Lisbon’s development, citing the international film festival Tribeca taking place at the Lisbon’s Unicorn Factory as an example.

“I want Lisbon to be that city: the city where social justice meets innovation and innovation meets culture and art,” the mayor said.

Covered image: Mayor Carlos Moedas speaking at Web Summit in Lisbon on November 10, 2025. (Photo credit: Screenshot from a live stream of the event)