Partnering for Progress: The Canada-Portugal Chamber of Commerce 

Though less than a year old, the Canada-Portugal Chamber of Commerce (CPCC) has already advanced the longstanding relationship…

Launch of the Canada-Portugal Chamber of Commerce
Launch of the Canada-Portugal Chamber of Commerce

Though less than a year old, the Canada-Portugal Chamber of Commerce (CPCC) has already advanced the longstanding relationship between the two countries it caters to. By bringing together professionals and companies that are committed to elevating both bilateral relations and existing economic ties between Canada and Portugal, the CPCC has given rise a community that can create greater benefits through collaboration than through the sum of isolated efforts.   

Launch of Canada-Portugal Chamber of Commerce, June 20, 2024
Commemorative print of the Canada-Portugal Chamber of Commerce launch

There From the Beginning 

As one of four Platinum Members of the CPCC, Empowered Startups has been actively supporting and participating in the Chamber’s events and programs since its inception, using both its diverse network and international expertise to enhance these initiatives.   

Multiple members of Empowered Startups’ leadership team, including co-founders Paul Girodo and Amber Allen as well as President Chris Lennon, traveled from Vancouver to attend the CPCC’s launch in Lisbon last summer. 

Paul Girodo and Amber Allen supporting the Canada-Portugal Chamber of Commerce
Empowered Startups’ Co-founders Paul Girodo and Amber Allen at CPCC launch event

The CPCC’s inaugural event was highlighted by a keynote speech by Canada’s Ambassador to Portugal, Elise Racicot, who has been steadfast in her support of the Chamber’s efforts and those working diligently to improve economic and cultural ties between the two countries.  

Shared Vision 

Since learning about how Empowered Startups’ HQA® Visa Program delivers several important benefits to Portugal, Racicot has been a vocal advocate for the both the company’s work and the benefits of the program. Speaking at a reception in November, the Ambassador explained the synergy that exists between the purpose of the Canadian Embassy in Portugal and what the Canadian multinational is doing through its innovative entrepreneurial program.   

Elise Racicot speaking at HQA Visa Program event in Lisbon
Elise Racicot speaking at HQA Visa Program event in Lisbon

“We share the same vision of the world, I think, which is an inclusive one,” revealed Racicot. “We have this vision of wanting a world where several voices can be heard, where there’s respect and humility, and where we work together to find solutions for the big problems we’re all facing.” 

Investing in Portugal’s Future

“As a Canadian, I am extremely proud and happy to see the kind of work that a company like Empowered Startups is doing, because I think it is bringing great benefits to the relationship between our two countries, but also, I believe, to the economic cohesion of a country like Portugal,” Racicot shared.  

As a multinational that facilitates significant foreign direct investment to Portuguese research universities and polytechnics via its HQA® Visa Program, Empowered Startups continues to contribute to sustainable economic activities, innovative research and development, and territorial cohesion throughout Portugal.  

Partners from research project at University of Aveiro facilitated by HQA Visa Program
Partners from research project at University of Aveiro facilitated by HQA Visa Program

The R&D projects funded by this foreign direct investment also create important opportunities for Portuguese master’s and PhD students outside of the nation’s major urban centres allowing talented young Portuguese students to remain in Portugal to strengthen communities throughout the country’s interior.   

Portugal’s Ascent Continues

Foreign direct investment in Portugal rose dramatically in 2024, and this year’s early indicators suggest this upward trend will continue in 2025. Recently, the credit rating agency Morningstar DBRS upgraded Portugal’s rating to A (high) with a stable outlook, which further strengthens Portugal’s standing in the global economic landscape and supports the country’s continued efforts to attract foreign investment. 

Canadian investment in Portugal has steadily increased over the past decade, and all signs point to the strengthening of an already robust economic relationship. A recent example is the agreement the two countries signed to co-promote international partnerships in the Space, Aeronautics, and Defense sectors. The initiative is aimed at developing and strengthening research and innovation capabilities and the adoption of advanced technologies in both countries.   

CPCC on the Rise

Interest in potential collaborative business opportunities continues to expand in both countries, and membership in the CPCC has increased since the organization’s launch in June of 2024. The Chamber held a successful, well-attended luncheon in Lisbon last month and has ambitious plans for the coming year.  

With committed support from companies like Empowered Startups and its ever-evolving network, the Canada-Portugal Chamber of Commerce is well-positioned to enhance the growing economic relations between the two countries and bring these cross-Atlantic neighbours even closer together.  

Francesco Berrettini at CPCC luncheon in Lisbon
Francesco Berrettini at CPCC luncheon in Lisbon
Portuguese Prime Minister Luís Montenegro speaking with Empowered Startups' President Chris Lennon
Portuguese Prime Minister Luís Montenegro speaking with Empowered Startups’ President Chris Lennon

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