Considered the incubator for the coolest startups in London, Second Home arrived in Lisbon in May 2016. It was an exciting year for Lisbon as 2016 is also the year that the Portuguese capital hosted the contemporary art fair Arco Feira, (the first time the ArcoMadrid branded fair will be hosted outside of Spain), and the largest entrepreneurship, innovation and technology event in Europe, the Web Summit. Second Home’s founder Rohan Silva was right on point, commenting, “Portugal’s capital has become the place to be.”
Second Home raised an investment of around EUR 9.8 million and opened its new location in the Time Out Mercado da Ribeira in May. The incubator which launched in 2013 has become an icon for business related to technology and creative industries. Entrepreneurs incubated in Lisbon can also attend the London space free of charge. In an Evening Standard article by Silva, he writes, “the creative industries are a massive driver of economic growth today.”
He went onto explaining that the global creative class are having to leave expensive cities like London due to increasing housing prices and worries that as creative types move to more affordable places like Portugal, “it won’t just be our cultural life that gets poorer, it’ll be our economy too.” Lisbon which has a cost of living that is almost 50% lower than that of the British capital is proving to attract the global creative class and the new enterprises that come with them. “Lisbon will do well at our expense.”
Read the full article, "Cheaper Berlin and Lisbon are luring London’s crucial creatives." HERE.