Portugal is one of the best destinations for startups and growing companies
Kaushal Chokshi is an “architect” in wealth creation. It welcomes the “conquest” by the Web Summit country, but argues that Silicon Valley is not the model.
“Portugal is well placed in the ‘knowledge economy’. I believe the country is one of the best destinations for startups and fast-growing companies. “Whoever says it knows what he’s talking about. It’s called Kaushal Chokshi. He is an Indian entrepreneur who lives in the USA and has given 15 times around the world. He spent a few days in Portugal, where he talked with Dinheiro Vivo and let himself be photographed next to the Anemona sculpture in Matosinhos, a work conceived by the American artist Janet Echelman.
Like sculpture, whose metal and net structure refers to the idea of movement, fluidity and elasticity, the economy is always on the move and Kaushal Chokshi never ceases to seek new solutions to create wealth in any of the four corners of the globe. The Scaale group , founded by itself, helps companies to obtain, at international level, intelligent capital (money, knowledge, access to markets). “This is a determining factor for a local business to assume a global dimension,” he says.
But, after all, what attracts an investor when looking at a country’s macroeconomic indicators? In the case of Portugal, will the upgrade by S & P of our public debt risk be so important? “I think indicators like political stability, friendly business environment, labor policies geared to ‘gig economy’ and global cultures are the right ingredients of a successful ecosystem for startups and fast-growing companies.”
And events like the Web Summit, which Portugal will host for the second year, are important to our economy? The answer is yes, but it does contain a little warning. “Events like the Web Summit are always positive because they draw the attention of innovation stakeholders to the country. However, in this case, Portugal is competing with at least one hundred hotspots. The challenge is not to blindly follow models like Silicon Valley. If the country wants to be a pole of innovation and keep the jobs, it is not to support startups that tend to go out to other countries that will be able to create sustainable companies. ”
A profound connoisseur of the most disruptive American companies, Chokshi, who has been living in the US for 20 years, admits that Portugal can be a good destination for Tesla’s next factory in Europe. “With an anchor investment like Tesla, Portugal can develop a hub of solutions for personal transportation.”
As for Facebook, are we facing the end of the line in terms of social networks? “The iPhone was released ten years ago. It was impossible to imagine what our present life would be like. The smartphone changed everything. Using the same logic, people believe that within ten years we will be using something that has not yet been invented. ”
In the American economy there is a kind of parallel reality: the stock market, whose indexes (Dow Jones, S & P 500, among others) have been on record since Donald Trump took over the White House. “Wall Street is a business apart. Often, news is used to generate volatility and create speculation that has nothing to do with the actual performance of companies. We are in the world of fake news, “says the Indian businessman.
After visiting Porto several times and contacting stakeholders from the local business ecosystem, Scaale chose Gestluz Consultores as its local partner. But why Porto and Northern Portugal? “Porto and the entire region offer unique advantages to becoming a global hub in the knowledge economy. The highly specialized talent there is a plus. The cost of doing business is low compared to other locations in Europe. Portugal is at the same time as the UK and this is crucial. Porto airport is well connected with European and North American cities. The people are friendly and most speak English. ”
Source: dinheiro vivo