UPTEC companies contribute with 324 million euros to GDP

The activity of the 249 companies was responsible for the creation of 8600 jobs, 219 million in remuneration and 48.4 million in tax revenue

The activity of companies headquartered at UPTEC – Science and Technology Park of University of Porto, in 2021, had a total impact of 324 million euros on the Portuguese Gross Domestic Product (GDP), involving 8600 jobs, generating 219 million euros in remuneration and 48.4 million euros in tax revenues.

The study, presented at the ceremony commemorating UPTEC’s 15th anniversary, which took place on the afternoon of June 20th, at the UPTEC Asprela I building, was carried out by Professors of the Faculty of Economics of the University of Porto, Isabel Mota and Armindo Carvalho, and demonstrates that there has been a gradual growth over this period in all these parameters, in a study that analyzed the direct, indirect and induced impact of UPTEC and companies, whether established or graduated, and which assesses the economic impact in relation to the GDP, employment, wages and tax revenue.

Looking in more detail at the analysis made, with regard to GDP, at constant 2019 prices, recorded for the national economy, in the period 2019 to 2021, due to the effect of the pandemic, while the national economy recorded an average annual growth rate of -1.64%, the contribution of the UPTEC network to GDP grew by 10.13%.

Regarding the impact on employment, the UPTEC universe increased the number of 7004 jobs in 2019 to 8600 in 2021, while salaries increased from 166 to 219 million euros in the same period. With regard to tax revenues, they increased from 35.2 million euros in 2019 to 48.4 million in 2021.

With regard to the volume of business with sales and services provided, UPTEC companies generated more than 187 million euros in 2021, with 57% of this amount referring to exports.

In 2021, UPTEC had 182 installed companies – Innovation Centers (21%), Anchor Projects (11%) and Startups (68%) – which employed 1631 employees with a direct impact, with the Asprela I and Asprela II centers responsible for 50% of the installed business projects. Between 2019 and 2021, the companies located at UPTEC made more than 37 million euros in investment and more than 161 million euros in exports.

In addition to the 182 companies installed, in 2021, there were 66 graduated companies linked to UPTEC that directly employed 1050 people. Graduated companies are responsible for 119.9 million euros in exports and 12.4 million euros in investment between 2019 and 2021.

In this study, the direct impact is measured by the set of activities that are part of the entities and companies of the UPTEC universe, while the indirect effects refer to the economic activity incrementally generated by the consumption of intermediate goods and services by the entities and companies of the UPTEC universe. Induced effects concern the incrementally generated economic activity as a result of the consumption expenditure of workers directly involved in these activities, as well as workers of entities supplying goods and services (generated economic activity either by direct effect or by indirect effect).

The total impact of the UPTEC network’s activity, which includes the aforementioned direct, indirect and induced effects, is quantified, year by year, for the period 2019 to 2021 as a whole. The objective is to control possible conjunctural effects, namely those regarding the impact of the pandemic crisis, as well as to have information available to draw some relevant conclusions regarding the main trends observed over that period.

UPTEC: 15 years innovating

Founded in 2007, UPTEC has been fostering over the last 15 years the creation and development of business projects in the areas of arts, sciences and technologies and has hosted innovation centers for national and international companies.

Since its creation, UPTEC has already supported more than 700 business projects, graduated 98 companies and contributed to the direct creation of more than 3600 new jobs, 86% of which are highly qualified.

Share Article