Portugal XR Report 2024

PORTUGAL

XR REPORT

2024

Associação Portuguesa

para o Desenvolvimento

das Comunicações

NIPC: 501 607 749

Av. João XXI, 78 – R/C Esq.

1000-304 Lisboa

213 129 670 • geral@apdc.pt

www.apdc.pt

APDC – Portuguese Association for the

Development of Communications is a

non-profit public utility institution. Since its

creation in 1984, it has been strengthening

activities, assuming itself as a consolidated

associative project of ICT and Media and

Digital. Today, it is the platform where all

themes related to digital transformation,

technological evolution and the impact

of information and communication

technologies in all sectors are debated.

Being a reference on the national scene,

the Association is a must in the great

moments when the present and the future

of the country is discussed.

Coordination

Luís Bravo Martins

luis@xrsi.org

Design and Publishing

João Leal

joao.leal@apdc.pt

Text Editing and Revision

Luís Bravo Martins

2

XR PORTUGAL REPORT 2024

Index

44

4

6

8

10

10

About

Welcome Message

Foreword

Welcome to the Portugal XR Report 2024

Partners List

About APDC

Innovation in Immersive Technologies: APDC initiatives to strengthen the ecosystem

1214

14

16

18

20

22

24

26

28

30

32

36

38

40

Portugal XR Insights

Market Snapshot

Introduction to Portugal’s XR Market

Insights

Business Insights

Metaverse: Alternative World or Opportunity Around the Corner?

Extended Reality: Unleashing Disruptive Potential in the Portuguese Market

Insights

Talent Insights

It is an exciting time to be part of the XR ecosystem

Bridging Borders in XR: A Pan-European Approach to Industry Insight

Insights

Regulation Insights

Legal Challenges of Extended Reality Technologies

XRSI Europe: a vision rooted in action

42

XR Ecosystem

3

WELCOME MESSAGE

Anne Bajart

Deputy Head of Unit @ European Commission

Foreword

Virtual Worlds, Web4.0 and Extended

Reality offer unprecedented opportunities to

transform industries, education, and daily life.

The convergence of immersive technologies is

not just reshaping entertainment and gaming

but also driving innovations in all sectors,

including healthcare, manufacturing, public

services and cultural heritage preservation.

The European Commission’s strategy on virtual

worlds and Web 4.0 1 emphasizes the need

for Europe to lead in shaping these emerging

technologies in a way that reflects European

values like inclusivity, safety, and openness.

1

https://digital-strategy.ec.europa.eu/en/library/eu-initiativevirtual-worlds-head-start-next-technological-transition

The European Commission’s strategy on

virtual worlds and Web 4.0 emphasizes the

need for Europe to lead in shaping these

emerging technologies in a way that reflects

European values like inclusivity, safety, and

openness

The strategy outlines key priorities such

as developing open, interoperable virtual

environments while promoting digital skills

and addressing societal and governance

challenges. This includes ensuring that virtual

worlds are used responsibly, safeguarding

user privacy, and fostering innovation in a

sustainable way. The strategy also aims to

boost innovation by supporting research,

startups and industries working on virtual

world technologies.

4


The European Commission’s vision positions

virtual worlds as a core part of Europe’s digital

economy over the next decade, ensuring that

they contribute to growth, job creation, and

technological leadership on a global scale.

Portugal, with its thriving tech ecosystem and

growing network of startups, is well positioned

to become a hub for XR development.

With significant investment in research,

infrastructure, and talent, Portuguese

innovators are leveraging XR and Virtual

Worlds digital economy, creating sustainable

solutions and improving the quality of life for

citizens.

Portugal, with its thriving tech ecosystem

and growing network of startups, is

well positioned to become a hub for XR

development

By continuing to support XR technologies

and integrating them into public and private

policies, we can not only accelerate digital

transformation but also ensure Europe’s

position as a leader in the global Virtual Worlds

and Web4.0 landscape. It is my hope that

this report will inspire stakeholders, inside

and outside Portugal, across all sectors, to

collaborate and contribute to the growth of

a vibrant, future-ready Virtual Worlds digital

economy in Europe.

It is my hope that this report will inspire

stakeholders, inside and outside Portugal,

across all sectors, to collaborate and

contribute to the growth of a vibrant, futureready

Virtual Worlds digital economy in

Europe

5

WELCOME MESSAGE

Luís Bravo Martins

Senior Advisor, XR and Virtual Worlds

Portugal XR Report Coordinator

Welcome to the

Portugal XR Report 2024

It’s an immense pleasure to welcome you to

the first edition of the Portugal XR and Virtual

Worlds Report 2024! This initiative aims to

promote cooperation between stakeholders in

the XR and Virtual Worlds industry and other

market stakeholders by providing a yearly

snapshot of the key market, talent, regulatory

and startup figures in our ecosystem.

This amazing effort is only possible thanks

to our partners commitment, which not

only supported the report’s production and

promotion but fundamentally contributed

with key insights and suggestions, besides

specific offers to all participants. To all of them,

our fullest appreciation.

We believe this report comes in a critical

moment, where decisions need to be made.

According to the European Comission,

860 000 new jobs dedicated to XR and

Virtual Worlds will be created in Europe in

2025. These numbers will grow even further

if we take into account integrated projects

with other technologies, like AI or digital

twins, where XR acts as the interface of AI

and digital twin- powered services. This

creates an amazing opportunity for each

country in the Union, including Portugal.

According to the European Comission,

860 000 new jobs dedicated to XR and Virtual

Worlds will be created in Europe in 2025

6


The amazing number of organizations and

structures already participating in our report

testify to this rowing immersive tech scene

across the country.

Disruption is visible and whether you’re

a company, agency, integrator, startup

or research lab, Portugal holds specific

advantages to accelerate your XR endeavours.

But it’s a global world. An european vision

for the portuguese XR and Virtual Worlds

ecosystem is the only one that makes sense.

The upcoming Virtual Worlds Partnership,

proposed by the European Comission

and planned to kick-off during 2025, will

consolidate a unified European vision for the

next stage of the Internet, connecting several

already-existing building blocks, like the Local

Digital Twins Initiative, the European Digital

Identity Wallet or the Virtual Human Twins

Project.

An european vision for the portuguese XR and

Virtual Worlds ecosystem is the only one that

makes sense

Leveraging a presence in this new economy

can help fight the country’s peripherical

geography in the continent and boost its

globally central position, by leveraging

high-level talent and a creative knowledge

economy.

Portugal acts as gateway between the

European Union, Portuguese-speaking

countries and so many nations that we

share a common Past with – for example,

India. This common past can build bridges

for a shared future and there is a clear,

present and future opportunity to leverage

these interfaces and generate even bigger

impacts for the emerging technology field.

Portugal acts as gateway between the

European Union, Portuguese-speaking

countries and so many nations that we share

a common Past with – for example, India

We hope throughout this year you’ll take

the opportunity to connect with this

community and find one or more ways to

accelerate your growth. Now is the best

time for that exploration and we’re here to

help you every step of the way.

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PARTNERS

Partners

XR Safety Intelligence – Europe

XRSI Europe is a SDO (Standards Development Organization) that brings

together thought leaders, subject matter experts, and visionaries to help build

safe and inclusive experiences using Emerging Technologies. It is focused on

the European society, its innovation ecosystem and its network of stakeholders.

Its activities include research, upskilling and awareness activities on privacy

and safety in XR and Virtual Worlds.

More info at www.xrsi.eu

VRARA – Portugal Chapter

The VR/AR Association (VRARA) is an international organization designed to

foster collaboration between XR, mixed reality, spatial computing, and artificial

intelligence (AI) solution providers and end-users that accelerates growth,

fosters research and education, helps develop industry best practices, connects

member organizations and promotes the services of member companies.

More info at www.thevrara.com

EUROMERSIVE

Euromersive is the Pan-European federation that unites the Immersive

& Emerging Tech ecosystems across the continent, driving the future of

technology. Through our Community as a Service model, we offer a platform

where professionals can connect, collaborate, and thrive, all while advocating

for ethical and sustainable technological advancements. We are more than a

network – we are a dynamic movement dedicated to defending the collective

interests of our members.

More info at www.euromersive.eu

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AUGMENTED WORLD EXPO

Since 2010 over 5,000 companies and 60,000 professionals have trusted

Augmented World Expo® (AWE) to learn, connect and grow their business in

the XR ecosystem. With the industry successfully reaching the milestone of 1

billion active users of AR in 2020, over the next decade AWE aims to guide the

industry’s attention towards our own core objectives of enabling people across

the globe to learn, connect and grow within the XR industry.

Join this inspiring community of XR professionals that brings together Endusers

and solution providers, Investors and startups, Creators, developers and

brands and Job seekers and recruiters.

More info at www.awexr.com

UNICORN FACTORY LISBON

Unicorn Factory Lisboa is a City Hall flagship initiative aiming to position Lisbon

as a leading European innovation centre.

It empowers entrepreneurs by providing essential resources and support to

bring their groundbreaking ideas to life and scale their businesses.

By fostering entrepreneurship skills from a young age, it ensures a continuous

pipeline of innovative talent, sustaining Lisbon’s vibrant startup ecosystem.

More info at www.unicornfactorylisboa.com

XR4EUROPE

XR4EUROPE is the Pan-European association dedicated to uniting XR

professionals, organizations, and initiatives across the continent. Our mission

is clear: to drive the development, promotion, and representation of XR

innovation, industry, and creativity proudly originating from Europe. As a

member of XR4EUROPE, you gain access to a comprehensive suite of services

designed to boost your professional growth, from fostering collaborative

opportunities to providing invaluable resources.

More info at www.xr4europe.eu

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APDC

Sandra Fazenda Almeida

Executive Director @ APDC

Innovation in Immersive Technologies:

APDC initiatives to strengthen the

ecosystem

APDC is delighted to be collaborating on the

publication of the Portugal XR Report. This

relevant report comes at a crucial time, as

virtual reality (VR), augmented reality (AR)

and, more broadly, extended reality (XR) are

transforming sectors of activity all over the

world.

Portugal is also following this global trend.

Proof of this is the growing number of research

and development (R&D) centers dedicated to

XR, a reality that demonstrates the country’s

strong commitment to innovation, especially

in immersive technologies.

The APDC has sought to play an essential

role in promoting and boosting this

ecosystem in the national market, hosting

within its structure the national chapter

of VRARA (Virtual Reality and Augmented

Reality Association), a global association

that promotes collaboration between

companies and professionals in these areas.

APDC INITIATIVES FOR XR

Through various initiatives, our aim is to

raise the profile of immersive technologies

and create a collaborative environment that

will enable the sustainable growth of this

emerging sector.

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Among APDC’s main actions, through its

Metaverse/VRARA Portugal Section, the

following stand out:

• Meet-ups and networking: We organize

regular meetings to bring together

professionals and organizations involved in

metaverse development, such as the dinner

held in parallel with the Web Summit, as

well as monthly meetings;

• Training: We carried out training on

“Augmented Reality, Virtual Reality,

Metaverse and Artificial Intelligence” for

AICEP – Portugal Global;

• Partnership with XRSI: Established at the

2023 Congress, this partnership resulted

in a series of webinars called Metopia.

It is focused on promoting a safer, more

inclusive, democratic and human rightsbased

metaverse. The respective program is

ongoing;

• Participation in the Metaverse Standards

Forum: We are part of this global

collaborative group to help establish

open and interoperable standards for the

metaverse, ensuring compatibility between

technologies and services;

• OECD project on civic participation: We

are involved, through AMA and LabX, in an

international study, in partnership with the

OECD and the European Commission, to

explore how emerging technologies can

promote civic participation in a responsible

and sustainable way.

• Connectivity: Highlights Portugal’s good

performance in implementing infrastructures

such as Gigabit and 5G networks, which are

essential for immersive technologies that

require high bandwidth and low latency;

• Digital skills: Recognizes the need to step up

efforts to develop skills in VR and AR, which

are fundamental to harnessing the potential of

these technologies;

• Digitization of companies: Points to the

importance of boosting digital transformation,

with the adoption of technologies such

as AI and data analysis, where immersive

technologies play a crucial role;

• Digital public services: Highlights progrs in

areas such as health, where XR can improve

the quality and accessibility of services, such

as interactive platforms for education and

training;

• Digital sustainability: Highlights how XR can

contribute to the green transition, reducing

travel and optimizing resources.

With the launch of this Portugal XR Report and

the various initiatives underway, APDC reaffirms

its commitment to boosting the Portuguese

XR ecosystem. In this way, we will continue to

help the country remain at the forefront of this

technological revolution that is redefining the

boundaries between the physical and virtual

worlds.

FUTURE OF IMMERSIVE

TECHNOLOGIES

With the expansion of 5G, which brings with

it unprecedented connectivity and capacity,

and with the increasing digitalization of

everything and everyone, the potential for

immersive technologies is enormous. Sectors

such as education, tourism and health are

among those most likely to benefit from the

integration of virtual and augmented reality.

APDC will continue to lead efforts to position

Portugal as an innovation hub for immersive

technologies, creating an environment

conducive to the development of new projects

and attracting international talent.

The report “Portugal’s Digital Decade 2024”,

published by the European Commission

on July 22 of this year, identifies some key

points for the advancement of immersive

technologies in Portugal:

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Portugal

XR Insights

Market Snapshot

14

16


Ori Inbar @ AWE and Super Ventures

Insights

Business Insights

20

22

24


Teresa Fiúza @ Portugal Ventures


Gil Azevedo @ Unicorn Factory Lisboa

Insights

Talent Insights

28

30

32


Maria Vilar @ Euromersive


Michael Barngrover @ XR4Europe

Insights

Regulation Insights

38

40


Tiago Bessa @ VdA - Vieira de Almeida


Valentino Megale @ XR Safety Intelligence - Europe

13

MARKET SNAPSHOT

Ori Inbar

CEO and Co-founder @ AWE and Super Ventures

Introduction to

Portugal’s XR Market

IS XR DYING?

HOW APPLE’S VISION PRO MIGHT HAVE JUST SAVED – OR DOOMED – THE

FUTURE OF REALITY

The XR market has seen a whirlwind of developments in 2024, and it all seems to orbit around

Apple’s Vision Pro. Released just eight months ago, this device has already reshaped the XR (AR, VR,

MR and spatial computing) landscape in ways both thrilling and controversial.

1. RAISING THE BAR FOR XR USER

EXPERIENCE

Apple’s Vision Pro has forced the XR industry

to step up its game. By raising both user and

market expectations, it pushed competitors

to refine their mixed-reality (MR) capabilities.

Vision Pro set new benchmarks for immersive

media consumption, causing tech giants (e.g.

Meta) to rethink their XR strategies and race

back into the market (e.g. Samsung).

2. XR IS READY FOR EVERYONE

BEYOND GAMERS

The device also shattered assumptions

about XR interaction. Through gaze

and hand gestures, Apple showed that

controller-free experiences can be not only

functional but highly appealing – especially

to non-gamers. This has broadened the

XR audience potential, making it more

accessible to a larger demographic.

Competitors are following suit.

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3. PRICE SENSITIVITY CRYSTALLIZES

THE VALUED VS. INDULGENT

FEATURES

It tested the market’s tolerance for premium

XR headset pricing and confirmed what was

expected: the price point is too high. Features

like the external “Eyesight” display, while

serving the aim to make the headset less

isolating from the surroundings, are indulgent

and could be eliminated in future iterations

without impacting the core experience.

(Notably, Apple’s AR glasses project was put

on hold due to technical dead-ends, and it was

Tim Cook’s preference for augmented reality

– rather than VR – that led to the “Eyesight”

display being included as a justification for the

Vision Pro’s release.)

4. DEVELOPER SHIFT TO SPATIAL

COMPUTING

Apple’s impact extends beyond consumers

– it has drawn the attention of developers

worldwide. Millions of iOS developers are now

exploring spatial applications development,

with a surge in interest fueled by statements

like A16z’s prediction that XR is the “most

underrated market.” This shift is further

amplified by A16z’s Tech x Games accelerator

Speedrun, which now places a heavy focus

on AI and XR and offers $750K for selected

startups. The parallels to the growth trajectory

of iPhone apps in the past decade has been

highlighted by A16z’s partner, as XR apps and

games show significant revenue growth on

the Meta Quest store with little to no funding

(Gorilla Tag reported reaching $100M in

revenue and 10 million players).

5. SMARTGLASSES ARE SEEING EYE-

POPPING GROWTH

Apple’s decision to pause the development

of fully featured AR glasses due to technical

challenges, and instead release what is

essentially a VR headset with strong (video

passthrough) AR capabilities, has led the

market to accept that full featured AR glasses

will take time to mature. This shift opens

the door for simpler, no-display and more

affordable smartglasses to gain a significant

foothold in 2024.

Devices from brands like Meta’s Ray-Bans have

supercharged AR headset sales from half a

million smartglasses in 2023 to 1.5 million units

in 2024!

Furthermore, the unveiling at Meta Connect

of the limited-release-for-developers Orion AR

Glasses demonstrated that the fully functional

AR glasses are not so far way.

6. ENTERPRISE ADOPTION: XR AS A

BUSINESS POWERHOUSE

Perhaps the most significant shift is XR’s

dominance in the enterprise sector, which now

accounts for 71% of global XR market revenues

and is uncharacteristically Apple’s initial target

market with the Vision Pro. Businesses have

finally embraced XR as a practical tool for training,

remote collaboration, productivity, and safety.

It’s also become a fertile ground for startups and

big tech alike in attracting significant investment

and wide deployment. This trend suggests

XR’s biggest growth potential in the short term

lies not in gaming or entertainment but in

transforming how businesses operate.

7. AI XR: THE POWER COUPLE OF 2024

While AI stole the spotlight from XR in the last 2

years, 2024 has shown that the two technologies

are not rivals but complements. AI makes XR

experiences faster, cheaper, and better. In

return, XR serves as a crucial interface that keeps

humans at the center of AI development, offering

a safer way to integrate AI into our daily lives. This

symbiotic relationship is becoming one of the

most exciting tech trends of the year – which is

also manifested in the Vision Pro – it’s no longer

just about AI’s potential – XR makes that potential

useful and safer

8. EUROPE EYES XR EXPANSION:

CLOSING THE GAP WITH THE US

MARKET

In 2024, the European XR market is catching up

to its American counterpart, mirroring many of

the trends seen across the Atlantic. Currently,

the US commands 35% of the global XR market,

while Europe holds 28%, showcasing only a slight

lag. However, this gap is expected to narrow as

European companies continue to invest heavily in

immersive technologies, driven by advancements

in 5G, enterprise applications, and gaming

innovations. With a surge in local startups and

increased government support, Europe is poised

to rival the US in market size and influence,

potentially becoming a key player in shaping the

future of XR on the global stage.

SO, IS XR DYING OR THRIVING?

The answer depends on who you ask. For

consumers, the steep price of cutting-edge

devices like the Vision Pro may seem like a barrier

to entry. But for developers, businesses, and

investors, XR is far from dead – it’s in the midst of

a renaissance. The question isn’t whether XR will

survive but rather what form it will take as we

move deeper into 2024 and beyond.

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MARKET SNAPSHOTS

Market Snapshot

THESE ARE THE MAIN INSIGHTS ON PORTUGAL’S XR ECOSYSTEM

AND MARKET, GATHERED THROUGH OUR RESEARCH

What types of XR and virtual worlds organizations exist in Portugal?

¾ of the ecosystem is made by private initiative and the number of startups (30%) confirms

the strong entrepreneurship drive in Portugal.

University , 7%

R&D Lab, 7%

Other, 10%

Company, 46%

Startup, 30%

Which vertical markets are being addressed?

A very broad range of markets are targeted by the Portuguese XR and Virtual Worlds

organizations. Education, Culture and Heritage and events come first, although the diversity.

14%

12%

10%

8%

6%

4%

2%

0%

Education

Culture and Heritage

Events

Industrial

Healthcare

Advertising

Art

Retail

Travel & Hospitality

Real Estate

Gaming

AEC (Architecture, Engineering…

Sports

Utilities

*

* AEC (Architecture, Engineering and Construction)

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Which kind of XR and Virtual Worlds services are being provided?

Surprisingly or not, XR Advisory/Consultancy services are the most delivered in Portugal,

topping software development and even content production. The rise in Training and

Research services underscores the importance these play in the ecosystem’s dynamics.

Education

Equipment Rental

Hardware

SaaS - Software as a Service

Content production

Event Production

Industrial Metaverse

Training

Research Services

Software Platform

Software Development

Advisory / Consultancy

1%

2%

4%

4%

4%

6%

7%

9%

10%

15%

17%

22%

0% 5% 10% 15% 20% 25%

Where in Portugal can we find

XR organizations?

More than half of organizations are

found in the Lisbon area, but the

remaining are spread across the country.

Porto

13%

Braga

6%

Autonomous Region of the Azores

1%

Aveiro

3%

Coimbra

4%

Leiria

6%

Castelo

Branco

1%

Santarém

1%

Lisbon

57%

Évora

1%

Autonomous Region of Madeira

4%

Setúbal

3%

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Portugal

XR Insights

Market Snapshot

14

16



Insights

Business Insights

20

22

24





Insights

Talent Insights

28

30

32





Insights

Regulation Insights

38

40





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BUSINESS INSIGHTS

Teresa Fiúza

Vice-President @ Portugal Ventures

Metaverse: Alternative World or

Opportunity Around the Corner?

For a country with a relatively small market

on a global scale, like Portugal, capturing

opportunities in new economic areas is a

strategic necessity. This is a challenge that

requires not only ingenuity but also an openminded

approach to innovation.

Portugal has remarkable human capital, with

skilled talent, above-average creativity, and an

entrepreneurial spirit that positions it at the

forefront of new development pathways. This

potential should be harnessed to overcome

adversities, such as the limitations of the

domestic consumer market, and to explore

new frontiers. This implies creating innovative

business models, products, and services that

can stand up to global competition.

Digital startups have demonstrated this

capability by using the national market as

a laboratory for testing and validating their

ideas before expanding into international

markets. This is how Portugal can stand

out, achieving global relevance through

solutions that extend beyond its borders

and aim at the world.

This is how Portugal can stand out, achieving

global relevance through solutions that

extend beyond its borders and aim at the

world

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The metaverse, for example, is a growing

opportunity. With the advent of digital twins,

various areas of activity – health, industry,

fashion, tourism, gaming, security, education,

and many more – are undergoing profound

transformations, accompanied by prospects

for exponential growth. These technologies

are reshaping the job market, creating new

professions and transforming others to meet

these needs. Fashion designers and hair

stylists, for instance, are already finding a

space in this environment, developing specific

skills to serve this virtual universe.

Portugal has been active in building a

robust technological ecosystem, with several

companies and startups exploring the

potential of metaverse-related technologies,

such as Virtual Reality (VR), Augmented

Reality (AR), blockchain, and digital gaming.

This growth has attracted the attention of

major international companies, strengthening

Portugal’s position as a technology

development hub in Europe.

The metaverse intersects with other

technologies, such as artificial intelligence,

giving it versatility and evolutionary potential.

This intersection allows the value of startups in

the sector to endure even after the decline in

investments that typically follows initial peaks

of enthusiasm. However, for this growth to be

sustainable, it is essential that the solutions

offered are robust and able to withstand the

test of time.

Additionally, the blockchain and

cryptocurrency sectors contribute directly

to creating digital economies within the

metaverse, providing an infrastructure for

creating virtual assets that support new

business models. For startups, integrating

these solutions with other platforms and

devices is crucial, as interoperability ensures

scalability and long-term value.

However, regulation is a fundamental aspect

that cannot be overlooked. In a global market, it

is necessary to strike a balance between lack of

regulation and excessive restrictions to create a

safe yet stimulating environment for innovation.

The issue of virtual crimes in the metaverse

exemplifies the need for a regulatory framework

that keeps pace with technological evolution.

Major tech companies – Meta, Apple, Microsoft,

Google – have invested heavily in XR (Extended

Reality) technologies, legitimizing the sector and

attracting even more attention to its potential.

Brands like Gucci, Nike, and Balenciaga are also

exploring this universe, creating virtual stores

and items for digital consumers. At the same

time, companies like Nvidia are developing

the technological foundations for real-time 3D

graphics, facilitating the creation of increasingly

immersive experiences.

Still, XR startups face challenges, such as

hardware costs and slow public adoption,

which may limit their growth. Competition with

industry giants is intense, requiring startups to

stand out with real and scalable innovations.

Moreover, issues like user privacy and comfort in

VR environments are obstacles that need to be

overcome.

Ultimately, the XR sector in Portugal has an

important role to play in the national economy,

contributing to exports and the creation of new

jobs and patents. This path is full of challenges,

but it also offers great opportunities for a country

with the ambition and talent to be a leader in the

global digital economy.

Ultimately, the XR sector in Portugal has

an important role to play in the national

economy, contributing to exports and the

creation of new jobs and patents

In an expanding digital world, humanizing

the experience is an increasingly relevant

concern. The more natural the interaction,

the greater the engagement and adoption of

these technologies by users. Thus, there is an

opportunity to use the metaverse not only to

sell products and services but to revolutionize

areas such as marketing, training, and

education, positively impacting companies

and individuals.

In an expanding digital world, humanizing the

experience is an increasingly relevant concern

21

BUSINESS INSIGHTS

Gil Azevedo

Executive Director @ Unicorn Factory Lisboa

Extended Reality: Unleashing

Disruptive Potential in the

Portuguese Market

Extended Reality (XR), an umbrella for

technologies like Augmented Reality (AR),

Virtual Reality (VR), and Mixed Reality (MR), is

gaining momentum worldwide – and Portugal

is no exception. With the potential to reshape

industries and fuel new business models,

XR is poised to be a catalyst for innovation

within Portugal’s burgeoning entrepreneurial

ecosystem.

In recent years, Portugal has become

recognized as a rising tech hub, evidenced

by Lisbon’s win of the European Innovation

Capital Award in 2023. This success stems

from a powerful combination of highly

skilled talent, a safe social environment,

high quality of life, and a firm commitment

to digital transformation. As a result,

Portugal’s tech ecosystem has thrived,

attracting startups and scaleups eager to

tap into this fertile ground for innovation.

These agile, forward-thinking companies

are instrumental in driving Portugal’s

journey toward XR adoption, providing a

dynamic environment where emerging

technologies can be tested and refined.

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In recent years, Portugal has become

recognized as a rising tech hub, evidenced

by Lisbon’s win of the European Innovation

Capital Award in 2023

BUILDING A THRIVING XR

LANDSCAPE IN PORTUGAL

To maximize XR’s potential, Portugal needs

a holistic approach – one that involves

collaboration across the entire ecosystem,

including universities, corporations,

and investors who can help scale these

technologies. Public initiatives, alongside

private efforts like those from Unicorn Factory

Lisboa, are essential in supporting startups

and scaleups specializing in XR. Notably,

companies like Kit AR and Splink have

already made strides within Portugal, with

support from Unicorn Factory Lisboa’s Scale

Up program, as has ONTOP, which is making

its mark at our gaming hub. However, we’re

just beginning to scratch the surface of XR’s

capabilities. The technology has vast potential

across sectors such as healthcare, education,

architecture, and sustainability, where it can

streamline operations, enhance processes, and

drive meaningful innovation.

To maximize XR’s potential, Portugal needs

a holistic approach – one that involves

collaboration across the entire ecosystem,

including universities, corporations,

and investors who can help scale these

technologies

A VISION FOR PORTUGAL AS A GLOBAL

XR LEADER

Unicorn Factory Lisboa has launched a

groundbreaking XR Cluster in collaboration with

PwC and NOS, aimed at positioning Portugal as

a global reference point for XR technology. This

dedicated cluster brings together XR developers,

creators, and investors, creating a hub of

excellence to drive industry growth and capture

international interest.

Unicorn Factory Lisboa has launched a

groundbreaking XR Cluster in collaboration

with PwC and NOS, aimed at positioning

Portugal as a global reference point for XR

technology

While the path to XR leadership is exciting, it is

not without challenges. Educating the market

and consumers about XR’s potential is essential

to fostering widespread adoption. To succeed,

continued investment is needed across public

and private sectors to showcase Portugal’s XR

innovations, ensuring the country remains on

track to be a key player in this evolving market.

With the talent, resources, and ambition required

to become a leader in XR, now is the time to seize

the opportunity – harnessing Portugal’s unique

strengths to transform the XR landscape.

UNLOCKING INNOVATION

SYNERGIES THROUGH

Emerging Tech Convergence

Beyond XR, the convergence with AI,

blockchain, and IoT offers transformative

possibilities that enable true symbiosis in

innovation. Together, these technologies

amplify XR’s disruptive impact, offering

unparalleled potential for Portugal’s tech

ecosystem to lead the way in this integrated

future.

23

BUSINESS INSIGHTS

Business Insights



What are the main Business Models?

Business-to-Business is the preferred model among the participants, with only 13% working

under business-to-consumer models. A word for the stoic 1% betting on making business

directly to avatars

Business-to-Avatar

(B2A)

1%

Business-to-Businessto-Consumer

(B2B2C)

17%

Business-to-

Consumer (B2C)

13%

Business-to-Business

(B2B)

51%

Business-to-

Government (B2Gov)

18%

What are the revenue ranges of XR organizations in Portugal?

More than half of the organizations had little to no revenue in the last fiscal year. However, 17%

indicated their revenue in XR was above 5M euros.

60%

50%

40%

30%

20%

10%

0%

0-250k 5M+ 500k-1M 1M-5M 250k-500k

24


What is the expected Growth for 2024?

Although the hype is all around AI, participants have a positive market outlook and only 16% think revenue

will decrease in 2024.

1-10% decrease

10%+ decrease

5%

10%

10%+ increase

33%

No growth

24%

1-10% increase

28%

Where are Portugal’s XR customers?

European markets are hiring remotely 65% of the Report’s participants, which makes Europe the most

representative geography for Portugal’s XR ecosystem.

Oceania

Africa

5%

5%

Asia

South America

7%

8%

North America

11%

Worldwide

28%

Europe

37%

0% 5% 10% 15% 20% 25% 30% 35% 40%

25

26


Portugal

XR Insights

Market Snapshot

14

16



Insights

Business Insights

20

22

24





Insights

Talent Insights

28

30

32





Insights

Regulation Insights

38

40





27

TALENT INSIGHTS

Maria Vilar

Portuguese Representative and Board Member @ Euromersive

It is an exciting time to be part of the

XR ecosystem

As immersive technologies grow, we are

shifting from the Internet of Things to the

Internet of Experiences, laying the groundwork

for the 5th Industrial Revolution. Virtual worlds

are becoming key in education, entertainment,

and work.

In light of this, we must tackle key challenges

together, from regulatory frameworks to fair

pay, while promoting a competitive European

startup environment.

EUROPEAN STANDARDS FOR

INNOVATION

One major challenge is aligning innovation

policies across borders. The rapid development

of XR technology calls for a unified European

approach. Intellectual property, data

security, and user privacy must be addressed

consistently across all European countries to

enable businesses to innovate without being

constrained by fragmented regulations.

For Europe to compete globally, we must

create opportunities for innovators and

industry leaders – providing support rather

than obstacles. This includes backing

startups, research initiatives, and creative

projects from start to finish, ensuring they

have the tools to succeed without seeking

resources elsewhere.

INNOVATING RESPONSIBLY

One solution at the European level is

implementing regulatory sandboxes,

which provide controlled environments for

testing, assessing, and refining before being

subjected to formal regulations.

28


Regulatory sandboxes are a vital tool to ensure

we aren’t creating regulations for technology

we don’t yet fully understand. By testing in

a controlled environment, with input from

industry, academia, and policymakers, we can

fine-tune solutions before they are applied

more broadly. Once these trials have been

evaluated, we can develop regulations at the

European level, creating a consistent approach

that avoids the issues of fragmented national

laws.

Regulatory sandboxes are a vital tool to

ensure we aren’t creating regulations for

technology we don’t yet fully understand

This approach will position us as leaders in

responsible innovation, making sure that we

protect users and build trust in XR and other

emerging technologies.

CREATING A COMPETITIVE

EUROPEAN ENVIRONMENT

Europe, including Portugal, needs to become

a competitive player in the XR space. Startups

are the lifeblood of innovation, but too

often, they view Europe as a trampoline – a

launchpad to gain initial traction before

heading to the U.S. for greater opportunities.

The problem is twofold: first, Europe’s

regulatory environment can be overly

restrictive, making it difficult for startups

to scale. Second, the support systems for

innovation – funding, mentorship, and legal

frameworks – are often less robust than in the

U.S.

Europe needs to rethink how it supports

startups, particularly in new industries like XR.

We need to make it easier for startups to

navigate regulations, access funding, and find

talent without facing unnecessary roadblocks.

We also need to align IP regulations across

Europe to create a single market where

startups can innovate without worrying about

varying national standards.

Europe needs to rethink how it supports

startups, particularly in new industries like XR

Building on this, Europe has the potential to

become a hub for XR innovation, attracting

talent and investment that would otherwise

head to other markets.

VALUING CONTRIBUTIONS IN THE XR

SPACE

For too long, we’ve seen people contribute to

projects and receive only visibility or recognition

instead of fair financial reward. This practice

weakens the professionalism of the XR industry

and limits its potential for growth.

If we want to take the industry seriously, we

need to treat it like any other professional

sector. People should be paid according to their

contributions, whether they are developers,

content creators, or researchers. Without fair

compensation, we risk losing the very talent

that fuels innovation, as they will look for better

opportunities elsewhere.

BUILDING ON PORTUGAL’S XR TALENT

Portugal is well-positioned to play a leading

role in the XR space. We have a growing pool of

talent, a vibrant tech scene, and a reputation for

creativity and innovation.

However, we need to invest in this talent and

provide them with the resources they need to

succeed. This includes not just financial support

but also access to mentorship, training, and the

opportunity to collaborate on European-wide

projects.

Portugal’s XR community deserves recognition

and support. Activities like this XR report help

us better understand the impact and scale of

the community. As the saying goes, “what gets

measured, gets managed.”

We must develop local talent and create growth

opportunities within the country, making sure

our innovators and creators feel valued and

supported, so they choose to build their careers

here instead of looking elsewhere.

We must develop local talent and create

growth opportunities within the country

XR is not just about technology; it’s about

people, ethics, and securing a better future

for society. By aligning our regulations at

a European level, supporting startups, and

fairly compensating contributors, we can

create an environment where innovation

thrives.

Portugal has the potential to be a key player

in this revolution, but we must work closely

with our European partners to build an

ecosystem that is both competitive and

ethical.

By prioritizing people, fairness, and

innovation, we can shape a future that

benefits everyone in the XR space.

29

TALENT INSIGHTS

Michael Barngrover

President @ XR4Europe

Bridging Borders in XR:

A Pan-European Approach to

Industry Insight

European XR is a dynamic and diverse

ecosystem, defined by its cross-border

exchanges of talent, ideas, and technologies.

“European” XR refers not just to the

geographical expanse but to the multitude

of markets and cultures from which a vibrant

tapestry of art, research, and industrial

collaboration is woven. The internal borders

of the European single market are permeable

and foster rapid knowledge exchange, yet they

can obscure the extent to which XR products

and projects are multinational and the extent

to which the cross-border trade of skills and

expertise, of products and services, reveals

European’s XR integral role in the global

industry.

For European policymakers and those

stalwart think tanks who support them,

it is often challenging to develop a truly

continental view of the XR, or virtual worlds,

as a European industry. Understanding

the nuances of the European XR market

requires precise, targeted research –

something that Brussels-based desk

research cannot fully capture alone.

Europe’s markets are hybrid in nature;

they may operate as both buyer and

seller markets, depending on their local

conditions. Accurate market insights,

especially regarding service exports, are

best derived from industry-specific surveys

and interviews by professionals on the

ground and embedded in their regional

and national ecosystems. This is where

national and pan-European bodies, such

as XR4Europe, play an essential role in

bringing data and insights together to

maximise the value of both.

30


Understanding the nuances of the European

XR market requires precise, targeted research

– something that Brussels-based desk

research cannot fully capture alone

XR4Europe, a pan-European association, serves

as a unifying platform for XR professionals,

organisations, and initiatives across the

continent. As a partner in EU-funded CSA

projects, XR4HUMAN and OpenVerse,

XR4Europe plays a critical role in gathering

insights and ensuring that the industry’s voice

is heard at both national and European levels.

In May 2024, XR4Europe initiated a European

XR landscape research project with the aim to

capture the interconnectedness of European

SMEs working with XR technologies.

Collaboration between XR communities,

associations, and research institutions will

allow us to better understand the strengths of

individual markets and promote them to the

world. It will also help identify where support and

investment are needed, ensuring that Europe

remains at the forefront of XR innovation. This is

the path to a truly human-centred, immersive

future for Europe – one that XR4Europe and its

partners are committed to building.

Collaboration between XR communities,

associations, and research institutions will

allow us to better understand the strengths of

individual markets and promote them to the

world

From the beginning, it was a priority to

collaborate with local partners who were

conducting their own industry research

to begin to standardise our methods and

questions. This Portuguese XR Report

represents such a collaboration and makes it

possible to include XR developers in Lisbon

and Porto together with peers in Madrid,

Dublin, Berlin, Laval, and Sofia. We also worked

closely with the national associations of

INMERSIVA (Spain) and Eirmersive (Ireland) in

a first iteration of what we hope is continued,

coordinated multinational research.

From the beginning, it was a priority to

collaborate with local partners who were

conducting their own industry research

to begin to standardise our methods and

questions

Coordination between research efforts is

essential if we are to fully unlock the potential

of Europe’s XR industry. National and regional

research must feed into broader European

analyses, and this requires a concerted effort

to align methodologies. We must agree on

common terminologies, question formats,

and data collection methods to ensure that

our findings are compatible and valuable

on a continental scale. This does not mean

sacrificing the unique focus each national

body brings, as every market has its own

distinct characteristics and needs. But by

aligning on fundamental aspects, we can

support one another more effectively and

maximise the value of our collective efforts.

31

TALENT INSIGHTS

Talent Insights



What is the technological backbone of the ecosystem?

There is a large number of converging technologies available in the ecosystem. This highlights

the equally large number of technical skills available in the market and the convergence

opportunities surrounding them.

18%

16%

14%

12%

10%

8%

6%

4%

2%

0%

16%

14%

13%

8%

Virtual Reality

Augmented Reality

Mixed Reality

360 videos

8%

7% 7% 6%

6%

4% 4% 4%

2% 2%

GenAI

Computer Vision

Virtual Worlds

Machine Learning

Internet of Things

Blockchain

Volumetric capture

Projections / videomapping

Cloud based Streaming

Haptics

How many employees do XR organizations have?

It’s almost a perfect pyramid. However, teams between 50-250 employees have a much lower

count (4%) than any other.

50-250

4%

250+

11%

15-50

13%

5-15

32%

<5

40%

32


Where in the world are Portuguese XR organizations hiring?

Europe stands as the core source (42%) for talent working in Portuguese organizations but

Brazil, the not-so-well-kept-sourcing-secret and biggest Portuguese-speaking market, comes

in second.

45%

40%

42%

35%

30%

25%

20%

18%

15%

10%

5%

10% 9% 9%

6% 6%

0%

European

countries

Brazil United States South America

(Except Brazil)

India Canada African countries

Which roles are most needed in XR organizations in Portugal?

Given the diversity of target markets and technologies, it’s only natural that the number of

existing team roles is also diverse and adapts to the different existing business models.

14%

12%

10%

8%

6%

4%

2%

0%

Project Manager

UX/UI Designer

Business Developer

Researcher

Animation Developer

Marketing/Growth

Artist

Software Architect

Product Manager/Owner

Video Specialist

Motion Capture Specialist

Quality Assurance

Sound Effects Specialist

Actor

33

TALENT INSIGHTS

Are organizations hiring?

The ecosystem’s vitality is well proven by this number. Both smaller and larger organizations

are hiring.

Yes

49%

No

51%

Which are the most important upskilling needs?

As expected, software development and project management skills are the most sought after.

However, it’s interesting how business skills like sales or support are also listed by a few of the

participants.

SOLID

360º

BIM Models

Omniverse

Houdini

XR Sales

XR Hardware

Vue/Nuxt

Godot

XR Support

AI/Machine Learning

Introduction to XR

Project Management

WebXR

Unreal

Unity

1%

1%

1%

1%

1%

1%

1%

1%

1%

1%

3%

3%

15%

20%

21%

25%

0% 5% 10% 15% 20% 25% 30%

34


Want to feature in the Portugal XR Report?

Please contact us at metaverso@apdc.pt

35

36


Portugal

XR Insights

Market Snapshot

14

16



Insights

Business Insights

20

22

24





Insights

Talent Insights

28

30

32


Maria Vilar @ Euromersive Portuguese



Insights

Regulation Insights

38

40





37

REGULATION INSIGHTS

Tiago Bessa

Partner in the Communications, Data Protection & Technology and

Transactional IP practices @ VdA - Vieira de Almeida

Legal Challenges of Extended

Reality Technologies

Extended Reality (XR) technologies,

encompassing Virtual Reality (VR),

Augmented Reality (AR), and Mixed Reality

(MR) are transforming various sectors such as

entertainment, educa-tion, and healthcare,

providing new possibilities for interaction,

immersion, and creation for users and

businesses.

The growth of technological potential

for economic development and societal

functioning in-evitably brings new legal and

ethical challenges due to media pressure,

psychological fears of the unknown, or the

impacts on traditional institutions. These

challenges are briefly discussed here.

The growth of technological potential

for economic development and societal

functioning in-evitably brings new legal and

ethical challenges

It is important to clarify that there is

no specific legal framework for XR

technologies. Unlike other technologies,

such as Artificial Intelligence, there is no XR

Act or specific regulation at the European

Union level that frames these technologies

and establishes rules for their development

or implementation.

However, this does not mean that XR

technologies are in a “no man’s land” in

legal terms and that there are no applicable

rules prescribed in other acts. There are

indeed several aspects to consider here.

38


PRIVACY AND DATA PROTECTION

XR technologies often involve the collection

and processing of large amounts of personal

data, which can include sensitive information

such as physical movements, facial

expressions, and even biometric data. The

General Data Protection Regulation (GDPR)

establishes strict rules on how personal data

should be collected, stored, and used.

Being technology-agnostic, companies that

develop and use XR technologies must ensure

com-pliance with GDPR to protect users’

privacy and avoid hefty fines. Transparency

regarding how data is used and obtaining

informed consent from users are also

significant challenges for de-velopers of these

technologies.

Being technology-agnostic, companies that

develop and use XR technologies must ensure

com-pliance with GDPR to protect users’

privacy and avoid hefty fines

INTELLECTUAL PROPERTY

Intellectual property is a relevant issue for

XR technologies. These technologies can

use content protected by copyright, such

as music, images, and videos. As such,

necessary authorizations must be obtained,

or alternatively, the use of the content must

fit within one of the exceptions or limitations

provided by law (which is not easy...).

The creation of new content through

XR technology can also raise questions

about ownership and intellectual property

protection, and surely this will be one of the

areas that will generate more discussion due

to the lack of a specific legal framework.

INTEROPERABILITY AND ACCESSIBILITY

The lack of common standards for XR

technologies can hinder interoperability between

differ-ent systems and platforms. The creation of

technical standards that promote compatibility,

secu-rity, and integrity will be essential for the

sustainable development of these technologies,

espe-cially regarding the use of IoT (Internet of

Things) devices.

The lack of common standards for XR

technologies can hinder interoperability

between differ-ent systems and platforms

Ensuring that XR technologies are accessible to

everyone, including people with disabilities, and

protecting vulnerable groups such as children are

also essential aspects for the democratiza-tion

and acceptance of these technologies. It may be

necessary to develop specific rules that ensure

the application of principles and best practices

reflecting core-European values.

CONCLUSION

XR technologies present complex,

multidimensional, and cross-border opportunities

and chal-lenges. Adapting the existing legal

framework and the balanced and well-founded

development of new rules can be essential

to ensuring the sustainable development of

these technologies. Collaboration between

lawmakers, technology companies, researchers,

and civil society will be crucial to fully harness

the potential of XR technologies and promote

sustainable, ethical, and inclusive development.

LIABILITY AND DAMAGES

The immersive experiences of XR technologies

can affect users’ mental health and behavior.

Issues such as addiction, spatial disorientation,

and long-term effects of exposure to virtual

envi-ronments are areas that still require

further research. All these can lead to property

or moral damages for users.

In such cases, it is necessary to define who can

be liable, what the criteria for imputation of

damages are, what the forms of compensation

are, and what the methods of prevention

and con-flict resolution will be. Although the

current framework already provides transversal

answers, a specific set of rules on the matter

would create greater predictability for

investors.

39

REGULATION INSIGHTS

Valentino Megale

President @ XR Safety Intelligence - Europe


NAVIGATING THE COMPLEX CHALLENGES OF VIRTUAL WORLDS AND CONVERGING

TECHNOLOGIES IN EUROPE

The recent growth of virtual worlds and

extended reality (XR) technologies is

reshaping how we can interact, work, and

even perceive our environments. Europe,

as a hub for innovation and technological

development, finds itself both leading and

grappling with the challenges that come with

such advancements. From privacy concerns

to safety, regulatory frameworks, and ethical

considerations, XR technologies have raised

critical questions that need careful navigation.

Extending the work of the XRSI 1 ,at XRSI

Europe 2 we are committed to addressing these

challenges and promoting a pro-active debate

about the safe and ethical adoption of these

transformative technologies.

Virtual worlds, powered by XR technologies

such as virtual reality (VR), augmented

reality (AR), and mixed reality (MR) and

also including AI and digital ledgers, have

increasingly found applications across

diverse sectors – from healthcare and

education to entertainment and industrial

design. Europe, known for its strong focus

on privacy and human rights, is leading

global discussions on how to responsibly

integrate these technologies. However,

this growing landscape is not without its

hurdles.

1

https://xrsi.org/

2

https://xrsi.eu/

40


One of the most pressing concerns in the

realm of XR technologies is privacy. With

virtual worlds offering immersive, personal

experiences, they collect vast amounts of

data – including biometric data such as eye

movements, facial expressions, and even

neural activity. This data can provide insights

into individuals’ emotional and cognitive

states, creating new risks for surveillance,

profiling, and data misuse. Europe’s stringent

General Data Protection Regulation (GDPR)

offers a strong starting point, but current

frameworks may not be fully equipped to

manage the complexity of XR data collection.

In virtual environments, users can experience

a sense of presence and immersion that blurs

the lines between the physical and virtual

worlds, and physical and digital identity. This

introduces new risks such as cyberbullying,

harassment, and even psychological and

behavioural harm, particularly for vulnerable

groups like children. Current digital safety tools

are often not fully equipped to address these

immersive dangers, and safety guidelines need

significant updates to reflect the challenges of

immersive environments.

In virtual environments, users can experience

a sense of presence and immersion that blurs

the lines between the physical and virtual

worlds, and physical and digital identity

The rise of XR also brings profound ethical

challenges. From the potential for addiction

and over-immersion to concerns around the

digital manipulation of identity and reality,

the ethical landscape of virtual worlds is

increasingly complex. For instance, who holds

the responsibility when someone experiences

trauma in a virtual space? How do we ensure

that virtual worlds do not exacerbate existing

inequalities or introduce new forms of bias and

discrimination?

While Europe has strong regulatory

mechanisms like GDPR, XR technologies

require more specialized and nuanced

standards. The challenge lies in establishing

pan-European standards that not only protect

users but also encourage innovation. The

lack of interoperability between different

XR platforms also hampers scalability and

user experience. Without clear, enforceable

standards, the XR ecosystem in Europe risks

fragmentation.

As XR technologies become more prevalent,

the need for digital literacy is paramount. Many

users are not fully aware of the risks involved

in these immersive environments, and there is

a lack of comprehensive education programs

that focus on safe usage. Additionally, ensuring

that XR platforms are accessible to all, including

individuals with disabilities, remains a significant

challenge.

Many users are not fully aware of the risks

involved in these immersive environments,

and there is a lack of comprehensive

education programs that focus on safe usage

At XRSI Europe, our mission is to address these

challenges head-on through a proactive, multifaceted

approach that combines research,

advocacy, and collaboration with stakeholders

across industries, academia, and governments.

Working also in collaboration with European

policymakers, our goal is to trigger debates on

novel regulations and policymaking workflows

able to safeguard users’ rights in virtual

environments. We are actively working to support

the development of ethical frameworks that can

guide the responsible creation and use of virtual

worlds, extending the work constantly done by

XRSI and iterating it in the European context of

values, culture and society.

We believe that education is the cornerstone

of responsible XR adoption. XRSI Europe is

developing programs and initiatives aimed at

increasing digital literacy among users, with

a particular focus on ensuring that people

understand the risks and opportunities of virtual

worlds. We are also committed to strengthening

research and fostering grant collaborations with

our growing network of local partners and XR

communities, such as our recent initiatives in

Portugal and Bulgaria, to ensure that all voices

are heard and integrated into the transnational

debate on safe virtual worlds.

The future of XR in Europe holds immense

potential, but it also brings significant challenges

that require immediate and coordinated action.

XRSI Europe is committed to addressing these

challenges by promoting new standards for

privacy, safety, and ethical considerations in

virtual worlds. Through our work, we aim to

create an XR ecosystem that is not only innovative

but also safe, inclusive, and empowering for all.

Without clear, enforceable standards, the XR

ecosystem in Europe risks fragmentation

41

42


XR Directory

Type of Company

Website

Region (Headquarters)

Source: Open Call - Portugal XR Report (June 2024)

43

XR DIRECTORY

3DECIDE

Company

www.3decide.com

Porto

linkedin.com/company/3decide

instagram.com/3decide

facebook.com/3Decide

Target Markets

AEC (Architecture, Engineering and Construction), Art, Culture and Heritage,

Education, Events, Healthcare, Industrial, Real Estate, Retail, Travel and

Hospitality

Services provided

Advisory / Consultancy, Hardware, Research Services, Software

Development, Software Platform, Content creation

3DISH

Startup

3dishviewer.app

Lisboa

linkedin.com/company/threedish

Target Markets

Travel and Hospitality

Services provided

Hardware, Software Platform

ADEN

Target Markets

Advertising, Culture and Heritage, Events, Gaming, Sports

Company

aden.pt

Leiria

Services provided

Advisory / Consultancy, Software Development

linkedin.com/company/adeninteractive

instagram.com/adeninteractive

x.com/AdenInteractive

youtube.com/@adeninteractive

ALF GLOBAL SERVICES OÜ

Target Markets

Events, Industrial

Company

alfglobal.co

Lisboa

Services provided

Advisory / Consultancy, Event Production

linkedin.com/in/themichaelalf

ALFA LUPO

Target Markets

Culture and Heritage, Travel and Hospitality

Startup

alfalupo.com

Porto

Services provided

SaaS – Software as a Service

linkedin.com/company/alfa-lupo

44


ALTICE LABS

Technology Provider

www.alticelabs.com

Aveiro, Portugal

Target Markets

Europe, South America/LATAM, USA

Services provided

Research Services, Telecommunications, Digital Platforms

linkedin.com/company/altice-labs

APOLLO XR / TIME TRAVEL VR TOUR

Target Markets

Culture and Heritage, Education, Travel and Hospitality

Startup

timetravelvrtour.com

Lisboa

instagram.com/timetravelvrtour

Services provided

Event Production, Research Services, Software Development, Software

Platform

ARNOTE

Target Markets

Advertising, Art, Culture and Heritage, Events, Real Estate, Retail

Other

www.arnote.pt

Porto

Services provided


linkedin.com/in/gustavomacaes

AROMNI

Target Markets

Retail, Sports, Automotive, Nature

Startup

aromni.com

Lisboa

Services provided

Software Platform

AXIANS

Target Markets

Healthcare, Industrial, Retail, Governements, Transportation, Utilities

Company

www.axians.pt

Lisboa

linkedin.com/company/axianspt

youtube.com/@AxiansPortugal

Services provided

Advisory / Consultancy, Industrial Metaverse, Research Services, SaaS –

Software as a Service, Software Development, Software Platform, Training

45

XR DIRECTORY

BLÜMEL PRODUCTIONS

Target Markets

Art, Culture and Heritage, Education, Events, Travel and Hospitality,

entertainment industry

Company

www.joaoblumel.com

Lisboa

Services provided

Event Production

linkedin.com/in/joaoblumel

instagram.com/joaoblumel

youtube.com/@joaoblumel

BYAR

Target Markets

Art, Culture and Heritage

Services provided

Hardware, Software Development, Software Platform, Content production

Company

www.byar.pt

Lisboa

linkedin.com/company/byar-augment-your-reality

CAPGEMINI

Company

www.capgemini.com/pt-en

Lisboa

linkedin.com/company/capgemini

instagram.com/capgeminiportugal/

Target Markets

Healthcare, Industrial, Retail

Services provided

Cloud, Customer first, Cybersecurity, Data and artificial intelligence,

Enterprise management, Intelligent industry, Sustainability, Consultancy,

Research & Development

CCG/ZGDV INSTITUTE

R&D Lab

www.ccg.pt

Braga

linkedin.com/company/ccg-zgdv-institute

instagram.com/ccg.pt

facebook.com/ccg.pt

x.com/CCG_ZGDV

youtube.com/@CCG-ZGDV-institute

Target Markets

AEC (Architecture, Engineering and Construction), Culture and Heritage,

Education, Gaming, Healthcare, Industrial, Real Estate, Retail, Sports, Travel

and Hospitality

Services provided

Advisory / Consultancy, Event Production, Industrial Metaverse, Research

Services, Software Development, Software Platform, Training

46


CHAMPALIMAUD FOUNDATION

Target Markets

Healthcare

R&D Lab

www.fchampalimaud.org

Lisboa

Services provided

Research Services, SaaS – Software as a Service

linktr.ee/champalimaudfoundation

CLYDE DESOUZA

Target Markets

Art, Culture and Heritage, Education

Other

www.amazon.com/stores/

Clyde-Dsouza/author/

B007DOSOD6

Coimbra

Services provided

Advisory / Consultancy

linkedin.com/in/clydedesouza

CORNER STUDIO

Target Markets

Advertising, Culture and Heritage, Events

Company

www.cornerstudio.pt

Santarém

Services provided

Advisory / Consultancy, Equipment Rental, Research Services, Software

Platform

CYANGO

Startup

www.cyango.com

Évora

linkedin.com/company/cyango

instagram.com/cyango_

facebook.com/cyango1

x.com/cyango_

youtube.com/@cyango

Target Markets

Advertising, AEC (Architecture, Engineering and Construction), Art, Culture

and Heritage, Education, Events, Real Estate, Retail, Travel and Hospitality

Services provided

SaaS – Software as a Service, Software Development, Software Platform

47

XR DIRECTORY

D22 – VISUALIZAÇÃO 3D DE ARQUITETURA

Target Markets

AEC (Architecture, Engineering and Construction), Real Estate

Services provided

Content creation for Architecture

Company

www.d22.pt

Lisboa

linkedin.com/company/d22

instagram.com/d22.pt

DIDIMO

Startup

www.didimo.co

Porto

linkedin.com/company/didimo

Target Markets

Gaming

Services provided


ESAD.CR – ESCOLA SUPERIOR DE ARTES E DESIGN DO

POLITÉCNICO DE LEIRIA

University

www.ipleiria.pt/esadcr

Leiria

linkedin.com/school/escola-superior-deartes-e-design-de-caldas-da-rainha

instagram.com/esadcr

facebook.com/ESAD.CR

youtube.com/@AV_ESAD_CR

Target Markets

Art, Culture and Heritage, Education, Events, Industrial, Design

Services provided

Research Services, Training, Education

ESQUISSO COLOMBIA SAS

Target Markets

AEC (Architecture, Engineering and Construction)

Company

www.esquisso.co

Lisboa

Services provided

Research Services, Software Platform

linkedin.com/company/esquisso

youtube.com/@esquissovdcprojectsmodelli5105

48


EXUBERANTE CAOS – ASSOCIAÇÃO

Target Markets

Advertising, Art, Events, Gaming, Retail, Travel and Hospitality

Services provided

Event Production

Startup

www.exuberantecaos.com

Porto

linkedin.com/company/exuberante-caos-associação

instagram.com/exuberantecaos

FIDGETLAND

Target Markets

Art, Events, Gaming

Other

andriihorlov.github.io

Porto

Services provided


linkedin.com/in/fidgetik

FOOTAR – PHONE

Startup

footar.co

Madeira

Target Markets

Gaming, Sports, Gambling

Services provided


instagram.com/footar.co

facebook.com/footar.sa

youtube.com/@footar_co

GLARTEK

Startup

glartek.com

Leiria

linkedin.com/company/glartek

x.com/glartekar

youtube.com/@glartek

Target Markets

Industrial, Field Services

Services provided

SaaS – Software as a Service, Software Platform

49

XR DIRECTORY

GREAT GONZO STUDIO

Company

greatgonzostudio.com

Lisboa

linkedin.com/company/greatgonzoagency

instagram.com/greatgonzostudio

Target Markets

Advertising, Culture and Heritage, Education, Events, Industrial, Real Estate,

Sports

Services provided

Event Production, Hardware, Software Development

HUBDUCTION

Company

www.hubduction.com/inicio

Aveiro

linkedin.com/company/77017474

instagram.com/hubduction

Target Markets


and Heritage, Education, Events, Gaming, Healthcare, Industrial, Real Estate,

Retail, Sports, Travel and Hospitality

Services provided


HYPED MULTIMÉDIA

Other

www.hyped.pt

Porto

linkedin.com/company/hyped-multimedia

instagram.com/hypedmultimedia

facebook.com/hyped

x.com/hypedmultimedia

youtube.com/@hypedmultimedia

Target Markets

Advertising, Art, Culture and Heritage, Education, Industrial, Retail, Travel

and Hospitality

Services provided

Advisory / Consultancy, Training, Multimedia & Marketing

IMAGI HEALTH

Target Markets

Healthcare

Startup

imagi-144871548.

hubspotpagebuilder.eu/en-gb

Lisboa

Services provided


linkedin.com/company/imagivr

instagram.com/imagi.health

50


IMMERSIV STUDIOS

Target Markets

Advertising, Events, Gaming, Healthcare, Retail

Company

immersivstudios.com

Lisboa

Services provided

Software Development, Training

linkedin.com/company/immersiv-studios

INDIEBIO

Target Markets

Culture and Heritage, Education, Gaming

R&D Lab

peduncle.world

Azores

Services provided

Advisory / Consultancy, Research Services

INESC TEC

R&D Lab

massive.inesctec.pt

Porto

linkedin.com/company/inesc-tec

Target Markets

Education, Industrial, Travel and Hospitality

Services provided

Advisory / Consultancy, Equipment Rental, Research Services, Software

Development, Training

INESC-ID – INSTITUTO DE ENGENHARIA DE SISTEMAS E

COMPUTADORES INVESTIGAÇÃO E DESENVOLVIMENTO EM

LISBOA

R&D Lab

www.inesc-id.pt

Lisboa

linkedin.com/company/inescid

x.com/InescID

Target Markets

Culture and Heritage, Education, Healthcare, Industrial, Energy

Services provided


INETUM PORTUGAL

Company

www.inetum.com

Lisboa

linkedin.com/company/inetum

instagram.com/inetum_pt

x.com/Inetum_world

youtube.com/@Inetum

Target Markets

Education, Healthcare, Industrial, Retail, Travel and Hospitality

Services provided

Advisory / Consultancy, Hardware, Software Development

51

XR DIRECTORY

INFINITE FOUNDRY

Startup

www.infinitefoundry.com

Porto

linkedin.com/company/infinite-foundry

instagram.com/infinitefoundry

x.com/infinitefoundry

youtube.com/@infinitefoundry

Target Markets

AEC (Architecture, Engineering and Construction), Education, Healthcare,

Industrial, Sports, Travel and Hospitality

Services provided

Advisory / Consultancy, Industrial Metaverse, SaaS – Software as a Service,

Software Development, Software Platform

INKLUSION ENTERTAINMENT

Startup

inklusion.pt

Castelo Branco

linkedin.com/company/inklusionentertainment-lda

instagram.com/inklusion.pt

Target Markets

AEC (Architecture, Engineering and Construction), Education, Healthcare,

Sports

Services provided

Event Production, Industrial Metaverse, Software Development, Software

Platform, Training

INSTITUTO SUPERIOR TÉCNICO DA UNIVERSIDADE DE

LISBOA

University

ist.ul.pt

Lisboa

Target Markets

Education

Services provided

Research Services, Training, Education

KALI GROUP

Target Markets

AEC (Architecture, Engineering and Construction), Real Estate

Company

kaligroup.pt

Lisboa

Services provided

XR Content creation

instagram.com/_kaligroup

KLAESLAB

Target Markets

Advertising, Events, Healthcare, Industrial,

Other

klaeslab.de

Coimbra

Services provided


x.com/klaeslab

youtube.com/@klaeslab1577

52


LARM, PUBLICIDADE

Target Markets

Advertising, Art, Culture and Heritage, Events, Travel and Hospitality

Company

www.larm.pt

Lisboa

Services provided


linkedin.com/company/

larm-publicidade-sa

LIKEXR

Company

likexr.com

Lisboa

linkedin.com/company/likexr

youtube.com/@likexr

Target Markets

Advertising, Art, Culture and Heritage, Education, Events, Healthcare,

Industrial, Retail

Services provided

Advisory / Consultancy, Event Production, Industrial Metaverse, Software

Development, Software Platform

LUSOVU

Target Markets

Advertising, Industrial, Sports

Startup

www.lusovu.com

Lisboa

Services provided

Hardware, Software Development

linkedin.com/company/lusovu

MADALIA WORLD

Target Markets


and Heritage, Education, Events, Gaming, Healthcare, Industrial, Real Estate,

Retail, Sports, Travel and Hospitality

Company

www.madalia.world

Madeira

Services provided

Advisory / Consultancy, Software Platform, Training, Sustainability

linkedin.com/company/madalia-world

Instagram.com/madalia.world

youtube.com/@madaliaworld

MANIFEST XR

Target Markets

Education

Startup

manifestrealityxr.com

Lisboa

linkedin.com/company/manifestrealityxr

Services provided

Hardware, SaaS – Software as a Service, Software Development, Software

Platform

53

XR DIRECTORY

MIRAGE VIRTUAL REALITY

Target Markets

AEC (Architecture, Engineering and Construction)

Company

www.miragevirtualreality.com

Lisboa

linkedin.com/company/miragevirtualreality

Services provided

Advisory / Consultancy, Event Production, Industrial Metaverse, Research

Services, SaaS – Software as a Service, Software Development, Software

Platform, Training

MULABS

Company

mulabs.tech

Lisboa

linkedin.com/company/muarts

Target Markets

Art, Education, Events, Healthcare, Consulting

Services provided

Advisory / Consultancy, Event Production, Hardware, Research Services,


NOBLE QUAD

Target Markets

AEC (Architecture, Engineering and Construction), Industrial, Real Estate

Startup

noblequad.com

Braga

youtube.com/@Snakemall

Services provided

Advisory / Consultancy, Startup Acceleration, Equipment Rental, Research

Services, Software Development, Software Platform

NOKIA

Company

www.nokia.com

Lisboa

linkedin.com/company/nokia

Target Markets

Telecommunications

Services provided

Hardware, Industrial Metaverse, SaaS – Software as a Service, Software

Platform

NOS COMUNICAÇÕES

Company

www.nos.pt

Lisboa

linkedin.com/company/nos-sgps

Target Markets

Culture and Heritage, Education, Healthcare, Industrial, Real Estate, Retail,

Travel and Hospitality

Services provided

Advisory / Consultancy, Startup Acceleration, Hardware, SaaS – Software as a

Service, Software Development, Software Platform, Training

54


NTT DATA PORTUGAL

Company

www.pt.nttdata.com

Lisboa


ntt-data-europe-latam

Target Markets

Advertising, Education, Healthcare, Industrial, Retail

Services provided


OCUBO

Target Markets

Art, Culture and Heritage, Events

Company

www.ocubo.com

Lisboa

Services provided


linkedin.com/company/ocubo-criativo/

instagram.com/ocubo

facebook.com/OCUBO.studio

OLHA AGENCY

Target Markets

Culture and Heritage, Events, Real Estate, Travel and Hospitality

Startup

www.olhaagency.com

Lisboa

Services provided

Content Creation and Virtual tours of existing spaces

instagram.com/olhaagency

ONTOP

Startup

www.ontopstudios.com/home

Lisboa

linkedin.com/company/ontopstudios

x.com/ONTOPgames

youtube.com/@ontop_ar_games

Target Markets

Gaming

Services provided


PWC PORTUGAL

Target Markets

Industry, Real estate / hospitality, Retail, Public sector, Energy

Consulting

www.pwc.pt

Lisboa

Services provided

Advisory/Consultancy

linkedin.com/company/pwc-portugal

instagram.com/pwc_portugal

facebook.com/pwcportugal

youtube.com/@pwc_portugal

55

XR DIRECTORY

RETRAI – INTERACTIVE DEVELOPMENT

Target Markets

Culture and Heritage, Events, Gaming, Travel and Hospitality

Company

retrai.co

Setúbal

Services provided


linkedin.com/company/retrai

instagram.com/retrai.co

x.com/retrai_co

SHADOW PROFILE

Target Markets

Education, Gaming, Healthcare, Industrial

Startup

shadowprofile.pt

Braga

Services provided

Software Development, Game Development

linkedin.com/company/shadow-profile

SIEMENS

Target Markets

Healthcare, Industrial, Smart Infrastructures

Company

www.siemens.com

Lisboa

linkedin.com/company/siemens

x.com/Siemens

youtube.com/@Siemens

Services provided

Advisory / Consultancy, Hardware, Industrial Metaverse, SaaS – Software as a

Service, Software Development, Software Platform, Training

SYPAR

Target Markets

Education, Corporate & Taxation

Startup

www.sypar.pt

Lisboa

Services provided

Advisory / Consultancy, Research Services, Training

linkedin.com/company/sypar

instagram.com/sypar.pt

x.com/sypar_pt

youtube.com/@sypar.portugal

56


TEKUCHI

Target Markets

AEC (Architecture, Engineering and Construction), Art, Culture and Heritage,

Events, Gaming, Real Estate, Sports

Company

www.tekuchi.com

Lisboa

Services provided

Advisory / Consultancy, Event Production, Equipment Rental, SaaS –

Software as a Service, Software Development, Software Platform

linkedin.com/company/tekuchi

THE ONE LINE DESIGN

Target Markets

Advertising

Company

oneline.pt

Madeira

Services provided

Agência de Design – Comunicação Visual, Design Digital

linkedin.com/company/the-one-line-design

UNESCO CHAIR ON AI & XR

Target Markets

Healthcare, AI and XR

Other

unescoaixr.tecnico.ulisboa.pt

Lisboa

Services provided


instagram.com/unescoaixr

facebook.com/unescoaixr

x.com/unescoaixr

youtube.com/@unescoaixr

UNIT360

Target Markets

Education, Healthcare, Industrial, Real Estate, Retail

Company

unit360.pt

Lisboa

Services provided

Advisory / Consultancy, Industrial Metaverse, Training

instagram.com/vrunit360

57

XR DIRECTORY

UNITED CREATIVE

Target Markets

Advertising, Events

Company

www.unitedcreative.com

Lisboa

Services provided


instagram.com/unitedcreative

UNITED SKILLS IN CREATIVITY

Target Markets

Advertising, Art, Culture and Heritage, Events, Retail

Other

www.unitedskills.pt

Lisboa

Services provided

Comunication, Strategy and Design

instagram.com/us_unitedskills

UNIVERSIDADE LUSÍADA

Target Markets

Art, Culture and Heritage, Education

University

www.ulusiada.pt

Lisboa

Services provided

Higher Education

linkedin.com/school/universidade-lusiada

instagram.com/ulusiadalisboa

youtube.com/@ULusiadaLisboa

VERTIGO STUDIO

Startup

www.vertigostudio.pt

Lisboa

linkedin.com/company/vertigostudio

instagram.com/vertigostudio_cgi

Target Markets

Advertising, AEC (Architecture, Engineering and Construction), Education,

Gaming, Real Estate, Retail

Services provided

Advisory / Consultancy, Software Platform

VRLAB

Target Markets

Education

University

vrlab.dei.uc.pt

Coimbra

Services provided

Research Services, Training

instagram.com/vrlab_dei

58


WATERMELON

Startup

watermelonsoftwarehouse.

com

Setúbal


watermelon-software-house

Target Markets

Advertising, Education, Industrial

Services provided

Advisory / Consultancy, Research Services, Software Development

WAVEFUNCTION VR

Target Markets

Culture and Heritage, Education, Gaming, Healthcare, Industrial, Real Estate

Company

www.wavefunctionvr.com

Braga

Services provided

Advisory / Consultancy, Industrial Metaverse, Software Development

linkedin.com/company/wavefunction-vr

youtube.com/@WaveFunctionVR

YES MARKETING

Company

yesmkt.com

Lisboa

linkedin.com/company/yes-marketing-pt

Target Markets

Advertising, Art, Events, Gaming, Retail

Services provided

Industrial Metaverse, SaaS – Software as a Service, Software Development,

Software Platform

59

Research Methodology

An initial research was done with the purpose of listing organizations publicly working in

Extended Reality technologies and/or Virtual Worlds and 220 Organizations were found. This

research was conducted using digital means (directories, search engines, social media). Only

organizations with offices in Portugal and a team dedicated to XR and/or Virtual Worlds were

considered.

Aftewards, an enquiry form was established with 25 questions that help characterize these

organizations and the ecosystems as a whole and all listed organizations were invited to

participate in this Open Call. After a data quality check, a sample of 72 organizations was used

for the research report purposes.

Aggregated results presented in this report derive from that sample. All answers subtotals

below 1% were deemed irrelevant and not included.

60


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