Portugal backs €900 million PITCH innovation hub in Porto with EU funding prospect

Portugal’s Ministry of Economy, represented by Minister Luís Castro Almeida, affirmed full governmental support for the PITCH project – a €900 million initiative linking the University of Porto, the Polytechnic Institute of Porto and the City Hall. The plan envisions a three‑phase innovation ecosystem for Greater Porto: a Central Hub with offices, labs and prototyping facilities (€150 m), a Corporate Zone for multinational firms and research centres (€250 m), and an Expansion Zone for start‑ups and campus‑style business parks (€500 m).

Almeida highlighted that the next EU funding round, focused on competitiveness and innovation, will be negotiated in 2027, with the hub expected to become operational by 2029. He stressed the project's aim to translate university knowledge into profitable tech companies, raise salaries and retain young talent in Portugal. University rector António Sousa Pereira described the venture as “from Porto to Portugal, and from Portugal to the world.”