The European technological competition that chooses the fastest growing scaleups in Europe according to their recipes, Tech5, has already revealed the five Portuguese finalists that will compete in the 2020 edition. DefinedCrowd, Sword Health, Jscrambler, 20tree.ai and Barkyn were chosen this year at national level, after 2019 was the first time that Portugal participated.
Created more than six years ago and organized by The Next Web (TNW) and Adyen, the competition chose five startups per country through a panel of investors, influencers and technology experts. The winner will be announced on June 17, in Amsterdam, after evaluating the adaptation to the market, capital and investment rounds, growth, media coverage and the social impact of the startup.
Last year marked a turning point for the competition, as it was the first time that it focused on scaleups. This term refers to newly created companies (startups) that register strong growth, generally with at least 10 employees and sustainable growth of more than 20% of the annual turnover.
Get to know the startups that will represent Portugal better.
In yet another edition of the competition, TNW co-founder Patrick de Laive wants Tech5 to continue to make "younger startups able to achieve the impact they deserve, while Juan Jos Llorente, Adyen's country manager in Spain and Portugal, praises the Portuguese finalist scaleups for the degree of innovation in their respective sectors and congratulates them.
"We are counting on more and more talent in the Portuguese startups market, which are demonstrating a capacity for innovation and adaptation far superior to that of other markets", he says.