Lisbon to create "unicorn factory" for internet start-ups

Lisbon [Portugal], November 2: Lisbon Mayor Lisbon Carlos Moedas said on Tuesday that the Portuguese capital of Lisbon strives to become the "world center for internet startups" with the launch of the "Unicorn Factory Lisbon" project.
At the opening ceremony of the Web Summit 2022 in Lisbon, one of the largest technology and entrepreneurship events in the world, Moedas said that Lisbon is a "city where the impossible becomes possible," encouraging young entrepreneurs to follow their ambitions and make their ideas a reality.
Portuguese Minister of Economy and the Sea Antonio Costa Silva said that the government will allocate 90 million euros (89 million U.S. dollars) over next four years to support a total of 3,000 startups.
During the four-day event, some 2,630 startups and companies will display the edge-cutting technologies in such fields as internet and cryptocurrency. More than 70,000 participants from 160 countries and regions are expected to attend the event, said organizers of the web summit.
Source: Xinhua