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10 things that you need to know about the entrepreneur scene in Portugal:

1) venture capitalists think that everyone can start a new google (or idea) with only 5K. also, they act too slow and are only interested on seeing how the money is spent. no help whatsoever on the business, contacts or key areas.

2) the guy that whines all day about his job is the fist one to come and organize events, tells other people that they should start companies and be entrepreneurs but never leaves his job to start his own. when he decides to start something, never leaves his daily job for his idea.

3) there're a lot of academic folks that teach entrepreneurship, that never left school or teaching to start a company. eventually a couple of them just worked for serious multinational company and therefor think that they're entrepreneurs.

4) the regular entrepreneurs that show up at conferences are those who want a job, not a chance to start his own idea.

5) the regular entrepreneur complains about there's not enough money in portugal to invest on startups, but when someone with money shows up, the wannabe entrepreneur says that he doesn't want any money and brags about on how silicon valley is dashit.

6) the venture capital in weird. business angels act as mediators on capital; they know someone that has money and introduce them the guy with the idea, gets 10% at the end. just a few of these BA invest on startups, and when they do, they get 50%+ of them. there's just one seed capital company and everyone likes crowd funding, which doesn't have any legal stand.

7) there's a new breed of entrepreneurs helpers. they're a bunch of people that work on consulting or own(ed) a small startup, that help you on your idea, pitch, business plan, marketing, etc. again, you'll have to give them - when you get funding - 10%+ of your company.

8) there are more events for entrepreneurs than startups being created. there's almost one event per month related to creativity, ideas and startups. all of them backed up by those entrepreneurs helpers, academic folks or business angels. there's no record whatsoever that these events help entrepreneurs on getting money.

9) silicon valley is dashit and portugal should copy cat them. portugal is related to california on the weather conditions and has some similarities, but we're the tail of europe and our real competitors are not those across the atlantic, but those in northern europe, where it's damn cold and where people just want warm weather to work with. after all these years we still want to be the sillicon valley of europe, where we could be one of the major european hubs for startups. like a friend of mine once told; portugal isn't california, is the european florida, where old people come to spend their pension here.

10) the local and central government gets on the bandwagon and tries to help by creating programs for startups, where they just rent you some space. no help on the 99% of the startup problems.
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11 comments
 
I think you nailed some of the idiosyncrasy of the Portuguese entrepreneurship scene (is there any scene at all?). To be honest I don't know at all how the VC/Angel/Seed in Portugal works but from what I've heard I decided just to skip them... maybe I should put my pitching hat and try it myself.
 
Ha ha ha. Sounds so much like India
 
don't know whether to laugh, cry, +1 or share because it's all true.
 
There still is a long way to go with providing the right network mix here in PT. Weather plays a part, but it has been providing the same small advantage forever. There are plenty of startups here, lots with great ideas. Because of these events and co-working spaces there are more and more people coming together to find their way. There is however a serious lack of understanding about how startups grow and tech in general from anyone with the money to fund startups, leading to the easier and less risky option of not doing anything with that money.

Things are changing at a fast pace, I just hope the € puzzle piece turns up somewhere. Until the risk aversion bankers aren't the only ones with € no decent percentage of PT startups will find funding locally.
 
there are only 3 questions: what's up? so what? what now? - +Vitor Domingos you have given us the first answer - looking forward to the next 2