Corporate Social Responsibility

Europe’s Inspiring Wave of Innovation Fosun&Fidelidade Official Startup Gathering

On November 8, 2016, the European technological “Web Summit” event was held in Lisbon, Portugal. Fosun and Fosun Foundation joined hands with Fidelidade and Web Summit in organizing the Innovation Pioneer Night.

To promote global innovation and start-up exchanges, the event attracted numerous prominent figures from political, commercial, art, media, and technology fields, including the Portuguese Secretary of State of Industry JoãoVasconcelos, President of AICEP Portugal Global - Trade & Investment Agency Miguel Frasquilho, Chairman of an entrepreneurial management committee Pedro Rebelo de Sousa, Web Summit’s co-founder Cian Kennedy, and commercial representative of the Embassy of the People’s Republic of China in Portugal Xu Weili. Attendees also included over 300 guests such as management personnels from Fosun and Fidelidade.

António Costa, Prime Minister of Portugal: Portugal will provide EURO 200 million in venture capital funding to enable domestic and international investors to select the best companies and investments, thereby contributing to the development of various enterprises. It has occurred to us that the best means to support financing is through joint investment. As such, we have launched EURO 200 million program to pursue investment in the best enterprises and projects. We have created this fund platform for the benefit of those suitable persons who are seeking to be involved in specifically targeted undertakings. We do hope to achieve better results and faster growth, and to bring ourselves up to a higher level in our development.

JoãoVasconcelos, Portuguese Secretary of State of Industry : In the next five to ten years, Portugal will witness the remarkable, long-term results brought about by this internet summit. And in the short run, Portugal will need to attract more investment companies and start-ups, so that stronger ties can be created between Lisbon and global internet-based enterprises.

Cian Kennedy, General Manager, MoneyConf at Web Summit : The cooperation between Web Summit on one side and Fosun and Fidelidade on the other has been highly successful. The summit is to remain in Lisbon over the next three years to offer a long-term platform for start-up enterprises, and we do look forward to far-reaching collaboration with enterprises, such as Fosun.

Chen Bo, Fosun Group’s Assistant President: The “spirit of entrepreneurship” lies at the heart of start-ups, and is also one of the core values that Fosun has always advocated. Fosun and Fidelidade are delighted to collaborate with the globe-spanning Web Summit, which provides young start-up entrepreneurs with a platform for realizing their dreams while also making the best possible contributions to the sustainable development of the start-up universe both in Europe and globally.


Sérgio Carvalho, Fidelidade’s Marketing Director :Fidelidade is more than honored to join hands with Fosun in holding the Web Summit welcome cocktail reception. Innovation is the quintessence of Fidelidade, and is also the driving force for the reforms of any market pioneer. We are to officially release Protechting 2.0, and look forward to the joining of even more collaborative partners.

Protechting 2.0 set to stir up new waves

  Earlier this year, with the philosophy of “human-oriented innovation” in mind, Fosun and Fidelidade jointly held the accelerated start-ups competition under the title of Protechting in order to support youth innovation in such areas as defense, services, medical care and savings.

  Based upon the success achieved surrounding the first innovation and start-up program, Fosun will continue to act as an incubator for Protechting 2.0 and join hands with Fosun’s affiliated enterprises - namely the largest Portuguese insurance group Fidelidade and the largest Portuguese private medical group Luz Saúde - in forging a cradle for “unicorn” enterprises, offering support toward fostering Europe’s start-up ecosystem so that more young people can be assisted in connecting with their active involvement in a number of start-up and innovation-related areas. This “preview” of Protechting 2.0 released through the Web Summit platform is set to entice even more start-up pioneering teams into becoming part of the initiative.

 Lisbon’s internet-based start-up and innovation advantages

  The Protechting program is primarily based in Lisbon - the city that has numerous strengths as a base for pursuit of innovation by internet-based enterprises. Firstly, in order to support innovative enterprises, Portugal implements relevant preferential and assistance policies such as those dedicated to start-ups. Secondly, when compared with the high salary levels prevailing in Silicon Valley, Portugal’s relatively low-wage costs also represent a major incentive that accounts for its popularity among many entrepreneurs. In addition, the country enjoys an advantageous geographical location with a pleasant environment and climate, making it an ideal place to work and live in for those engaged in internet-related undertakings.