Over the past decade, Portugal’s national and municipal governments have gone to great lengths to better engage the country’s local talent, entrepreneurs and foreign investors. While Lisbon is the poster child of these efforts, thanks to its startling growth as a start-up hub, the country’s investment proposition stretches to Coimbra, Porto, Braga and beyond. In this report by Seth O’Farrell, we explore how foreign investors are growing the country’s capabilities in business services, tech, R&D and capital-intensive industrial investments.