Portugal has been recognized as the Best Total Startup Exit Value Ecosystem in Southern Europe for 2025, according to the latest StartupBlink Ecosystem Awards report.
The distinction highlights Portugal’s strong performance in value generated through startup exits, which, based on StartupBlink’s analysis, stands roughly 39% higher than Spain, the next highest-ranked ecosystem in the region.
The total exit-value figure used for the analysis was not reported.
The award was received by Miguel Aguiar, executive director of Startup Portugal, the non-profit organization that supports the government in implementing the national entrepreneurship strategy.
In his remarks at the online award ceremony, Aguiar said the recognition reflects the progress Portugal has made in strengthening and expanding its startup ecosystem.
“Over the last decade, we have built a vibrant, cohesive, and increasingly international startup ecosystem,” he noted, adding that the country recently passed the 5,000-startup milestone, supported by stronger deep-tech pipelines and rising investor confidence.
Aguiar emphasized the collective role of stakeholders such as public institutions, universities, investors, and founders in creating the conditions for this level of achievement, saying they “have been essential in creating the environment in which exits of this scale can happen.”
He added that the recognition is “both a milestone and a responsibility” for the ecosystem as it enters what he described as a new phase of consolidation and maturity.
The Startup Ecosystem Awards are produced by StartupBlink, an innovation economy research platform with more than 200,000 entities and research collaborations with over 100 governments, corporations, and global data partners.
The awards are based on StartupBlink’s global ranking algorithm, which evaluates more than 40 parameters to benchmark the performance of startup ecosystems worldwide.
Below is a full overview of the award structure and the 2025 winners, distributed across tiers that take into account factors such as population size, regional influence, and national dominance.
Special category awards
- Global Breakthrough Ecosystem – Singapore
Recognized for becoming the first ecosystem outside the U.S., UK, Israel, and Canada to enter the global top four. - Best Total Startup Exit Value (Southern Europe) – Portugal
Honored for leading Southern Europe in total exit value.
Leadership awards
- Best Startup Ecosystem (Central Asia) – Kazakhstan
Maintains its position as the leading ecosystem in the region. - Best Startup Ecosystem (Latin America) – Brazil
Holds regional leadership since 2020. - Top Startup Ecosystem (Southern Europe) – Barcelona
Recognized as the highest-performing ecosystem in Southern Europe, sustaining its lead since 2020. - Best Small City (Canada) – Kingston
The only Canadian city under 500,000 residents to place within the national top ten.
Ecosystem growth awards
- Fastest-Growing Startup Ecosystem (Asian OECD Members) – Daejeon, South Korea
Achieved a 58% ecosystem score increase and climbed 63 places in global rankings. - Multi-City Ecosystem Growth (Southeast Asia) – Vietnam
The only country in the region where all ranked cities improved their global standing. - Rising Startup Ecosystem Star (East Asia) – Ulsan, South Korea
Achieved the strongest debut among non-Chinese East Asian ecosystems. - Best Global Climb (EU Countries) – Cyprus
Recorded the highest ranking improvement among EU ecosystems. - Fastest-Growing Startup Ecosystem (Contender Countries) – El Salvador
With San Salvador showing the strongest growth among nations outside the global top 100. - Fastest-Growing Startup Ecosystem (Central Asia) – Uzbekistan
Recorded an annual total score increase of nearly 98%. - Fastest-Growing Startup Ecosystem (Colombia) – Medellín
Grew by more than 41%. - Largest Global Climb (Central Asia) – Azerbaijan
Rose six positions globally. - Fastest-Growing Startup Ecosystem (Mid-Tier LATAM Countries) – Peru
Achieved the highest annual growth rate among medium-tier Latin American ecosystems.
Industry-specific awards
- Best Ecommerce and Retail Ecosystem (ASEAN, population above 10 million) – Thailand
Awarded for its strong industry performance among major ASEAN economies. - Rising AI Ecosystem Star (East Asia) – Nagoya, Japan
Registered the highest debut among East Asian cities outside China. - Best Fintech Startup Ecosystem (East Asia) – South Korea
Leads the region for the second consecutive year and ranks 13th globally. - Healthtech Excellence Award (Latin America) – Cali, Colombia
Placed significantly higher in healthtech than in its overall ecosystem ranking, marking strong sector specialization. - Rising Fintech Ecosystem Star (Balkans) – Banja Luka, Bosnia and Herzegovina
The highest new entrant in the Balkan fintech rankings and the country’s top fintech hub. - Best Energy and Environment Ecosystem (North America, mid-sized cities) – Calgary, Canada
Leads among North American cities with 1 to 2 million residents and ranks 22nd globally in the sector. - Fastest-Growing AI Ecosystem (South America) – Bogotá, Colombia
Recorded growth nearly three times the regional average among the continent’s top ten startup cities.
According to StartupBlink, this year’s awards highlight the potential of nurturing startup ecosystems and show that supportive policies, effective collaboration, and active community involvement are central to driving innovation and economic growth.
“These awards will remain a testament to the power of collective effort and vision in shaping a prosperous and innovative future,” StartupBlink noted.
Covered image: Photo courtesy of Attila Darvas on Unsplash
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