Lisbon, the Capital of Innovation 2023

Lisbon, recognized as the Capital of Innovation in Europe by the European Commission through the iCapital award, has been honoured for its commitment to fostering innovation and development within its local communities. This prestigious accolade, accompanied by a monetary prize of 1 million euros, underscores Lisbon's dedication to advancing innovative initiatives.



In the final phase, Lisbon emerged victorious over the other 2 finalists, Varsovia in Poland and Lviv in Ukraine. The award ceremony, held on the 27th of November 2023, in Marseille, France, saw Carlos Moedas, the current mayor of Lisbon, graciously accepting the prize. Mayor Moedas outlined his intention to allocate the monetary award to fund social innovation projects aimed at reducing social exclusion within the city.

The Unicorn Factory Lisboa, a platform dedicated to supporting startups and scaleups in developing robust products, business models, and efficient processes, will manage the investment of the prize money. Thus far, this platform has attracted 54 new technological hubs from 23 different countries, launched 13 incubation and acceleration programs, created 10,000 job opportunities, tripled the number of startups in the city, and diversified into various sectors such as digital health, web 3 technologies, and artificial intelligence, all achieved within a span of two years, as reported by the Town Hall.

This groundbreaking project served as the cornerstone of Lisbon's candidacy for the iCapital award. With this victory, Lisbon has garnered European validation for its endeavours to evolve into an innovative city, offering an environment conducive to growth and success. As we look forward, we expect Lisbon's continued commitment to becoming a global technological hub.