Call INNOV-ID has received 398 applications from the Ignition Partners Network and announces another six new investments

Lisbon, 4 December 2023Portugal Ventures, a venture capital firm that is part of Portuguese promotional bank Grupo Banco Português de Fomento, in partnership with ANI – National Innovation Agency, and in collaboration with Startup Portugal, launched the 4th Edition of Call INNOV-ID on 13 October, which closed on 22 November. A total of 85 applications were received in this latest edition via the Portugal Ventures Ignition Partner Network.

In the four editions of Call INNOV-ID, Portugal Ventures has received a total of 398 applications through its Ignition Partner Network. This network, created in 2012, is made up of 127 organisations from across the country, including the islands, boasting incubators and accelerators, universities, technology hubs, associations, and city and town councils.

It is an important and catalyst network for selecting projects with investment potential, and is responsible for submitting applications to the Call INNOV-ID initiative. Some of its more active partners, who together account for 176 applications out of the 398 received thus far, are worthy or note: Instituto Pedro Nunes, Startup Braga, PCI Aveiro, UPTEC, Startup Lisboa, and Lispolis.

Other organisations that have submitted applications to Call INNOV-ID include ADRAL, AIP, Amadora Innovation, ANJR, Atlântico Business School, Atlântico Summit, Associação Vale do Xisto, Astrolábio, Audax, Beta-i, BGI – Building Global Innovators, Build up Labs, Business Incubator Aveiro, CATAA/CEI, Circklo, the Fundão City Council, CTCV, DNA Cascais, Fábrica de Startups, Fintech House, Finy Ventures, Founders Founders, Health Cluster Portugal, Hub Azambuja, i3S, Instituto Empresarial do Tâmega, IDD, Impact Hub, INESC TEC, Inovagaia, Instituto Politécnico de Bragança, Instituto Politécnico de Leiria, Instituto Politécnico de Portalegre, IPPorto, Instituto Superior Técnico, Junitec, Madan Parque, Nersant, Nonagon, Nova SBE, Novotecna, Obitec, Open, PACT, Sanjotec, Set.up Guimarães, Startup Leiria, startup Lourinhã, Startup Madeira, Startup Sintra, TagusPark, Teclabs, TecMinho, Territórios Criativos, Terrinov, Torres INNOV-E, Unlimit Ventures, Universidade da Beira Interior, Union Venture Builders, Universidade do Algarve, Universidade de Aveiro, Universidade Nova de Lisboa, and UTAD.

Rui Ferreira, CEO of Portugal Ventures, states that “since 2012, Portugal Ventures’ Ignition Partner Network has been a key vehicle for identifying and validating eligible projects for our investment calls, which demonstrates the vital role it plays in supporting the national entrepreneurial ecosystem. We take this moment to express our gratitude and enormous sense of pride in having these 127 partners in the field who, with recognised professionalism and commitment, have helped Portugal Ventures identify projects and teams with investment potential. Call INNOV-ID and the uniqueness of applications submitted via this network is the perfect example of a fruitful partnership model that reflects the results of the exceptional work that these organisations do in their communities, promoting the development of local companies with global ambition that generate innovation and qualified employment. My heartfelt thanks to everyone involved!”

According to António Grilo, President of the National Innovation Agency, “the support and involvement of the Ignition Partner Network, made up of Portuguese and international entities from the science and technology-based entrepreneurial ecosystem, has been vital to the success of Call INNOV-ID. This network of successful collaborative partnerships, of which ANI and Portugal Ventures are a part, is a key element in the development of a more modern, competitive and open economy, based on scientific knowledge, innovation and highly-qualified human capital.”

The forth edition of Call INNOV-ID is the result of the joint efforts of Portugal Ventures and the National Innovation Agency, the initiative’s previous success, and the ecosystem’s continued demand for a response to the market failure identified in access to investment in pre-seed stage startups.

Six new investments have been made as a result of the previous editions of Call INNOV-ID, totalling, to date, 61 investments in the amount of €6.1 million.

  • expressTec – expressTec is a biotechnology startup founded by two researchers and a spin-off from the University of the Algarve. Winner of the BfK Ideas competition in 2020, promoted by ANI, its aims to provide easy and fast access to personalised cancer treatments. To this end, it has developed RNA-based diagnostic tests to revolutionise clinical testing, selecting patients with greater precision and efficiency for targeted therapies. Its innovative approach will help optimise treatment outcomes, reduce side effects, and improve quality of life for cancer patients. expressTec’s mission is to transform cancer care through cutting-edge technology and a commitment to patient-centred solutions.
  • KeepIt – KeepIt will place an energy storage technology on the market and thus contribute to a successful energy transition. This technology, which can potentially be used in different market segments, from home solar systems in developing countries to grid support in developed countries, will make an important contribution to harmonising production and consumption in a world that runs on electricity produced entirely from renewable sources. KeepIt is a spin-off from the Faculty of Sciences of the University of Lisbon, stemming from the doctoral work in which its founding partners were involved.
  • Scubic – SCUBIC was established in August 2017 in Aveiro with the mission of developing business intelligence platforms to help water and sanitation companies in the day-to-day management of their operations. The SCUBIC intelligent platform, which won a BfK Award in 2018, integrates network data in real time and analyses it using artificial intelligence techniques to autonomously make decisions and dynamically control equipment. This allows users to assess the impact of thousands of scenarios and continually search for the most efficient strategy to guarantee water supply, optimise processes, reduce energy consumption and CO2 emissions, and increase network security.
  • Spaceo – Spaceo focuses on solutions to keep space clean and on the removal of satellites after the end of their operational life. It is currently developing an inflatable device to generate drag, designed to significantly speed up the de-orbiting of satellites, thus making the cleaning of space junk up to 10 times faster. Based on its experience, the startup also provides engineering services to the European Space Agency in various technological areas, harnessing its team’s core capabilities and cutting-edge technology.
  • Terrafarmers – Terrafarmers is an innovative company in the field of ecological restoration, specialising in drone technologies for reforestation and ecosystem regeneration. Focusing on sustainability and accelerating the agro-ecological transition, it offers advanced solutions for recovering degraded areas. It uses pioneering techniques such as aerial seeding and drones to promote the growth of natural habitats and increase biodiversity. Committed to environmental conservation, Terrafarmers combines technological innovation with regenerative practices that have a lasting positive impact on the planet.
  • Windcredible – Windcredible is dedicated to the development and production of vertical-axis wind turbines (VAWTs), a renewable energy technology that generates energy from the wind. A participant in the BfK Rise accelerator programme, Windcredible has a patented design offering several benefits over traditional wind turbines, including the ability to generate energy efficiently, compatibility with urban environments, and suitability for integration into smart grids. A key advantage of VAWTs is their ability to generate decentralised energy, with low operating costs and minimal maintenance requirements, making it a cost-effective option for customers, especially when compared to traditional energy sources.