Fosun Aims to Open Chinese Market to Startups from Portugal


Fosun is aiming to help startups from Portugal and other countries to explore the Chinese market, according to Li Haifeng President of Fosun Foundation.

Chinese-owned Fidelidade, Fosun and Hospital da Luz participates at the Web Summit, which opened this week in Portugal, with 14 startups, eight Portuguese and six international, under its open innovation program.

Li Haifeng, President of Fosun Foundation, said in a statement that “Fosun will continue to support the integration of high-quality resources, both nationally and internationally, helping [IT program] Protechting to consolidate in all countries where the Fidelidade Group is present”.

Fidelidade, Fosun and Hospital da Luz Promote Health Startups in Portugal

The goal, he added, is also to “help startups to explore the Chinese market, to capture the trends of the new era and to promote high quality industry development.”

Within the framework of Protechting, the open innovation program organized by Fidelidade, Luz Saúde and Fosun, the 14 selected startups that will be present at its stand at the Websummit. This 6th edition of Protechting received 259 applications from startups from 57 countries.

Of the 34 who were selected for the round of interviews, 13 were Portuguese and 21 were international, with 75.83% in the healthtech area, 14.7% in the insurtech area and 11.7% in the techenablers area.

No divestment in Portugal foreseen, Fosun chairman says

Miguel Abecasis, member of the Fidelidade Executive Committee, added that the company has three axes in its innovation strategy: open innovation, the development of new ventures and the promotion and integration in the ecosystem of venture capital and entrepreneurship.

“Protechting has been fundamental in the development of the 1st axis, allowing us to know and select startups with enormous value and that, in some cases, are already working with the Group, both in the core business of insurance and in the adjacent beyond insurance, contributing decisively to their development”, explains.

Francisca Leite of Luz Learning Health Hospital says the company has adopted a collaborative and networked approach to innovation, involving partners from different areas, including academia, industry and, especially, startups. “Protechting is key in this transformation, putting us in touch with excellence startups, bringing innovative solutions, leading us to a future in which Health responds effectively to people’s needs”.

Fosun´s Fidelidade aiming to boost presence in health in Portugal with bid for Lusíadas group

Most of the startup selected for this year´s WebSummit are from Portugal: Agit, Balvia, Binedge, eBreathie, Glooma, GripWise, Infinite Foundry, Musiquence Technologies and Sensomatt.

Participants include from Spain, i-Virtual from France, Momentum Health from Canada and two israeli startups – DeepKeep and Selfit Medical.

Other articles


Macau and Portugal Strengthen Ties in Justice, Economy and Trade


Hong Kong Asks Portugal to Lift Tax Haven Status