The return of war to European territory with the invasion of Ukraine on February 24 also has implications for the technology market of the old continent. Ukraine, a market where several companies have installed outsourcing and research and development (R&D) focused on several digital transformation projects.
With the advent of the conflict, some companies that outsourcing in Ukraine and neighboring countries decided to move projects to other countries, preferably away from the conflict. The phenomenon was felt not only in Ukraine: due to the sanctions applied to Russia, several technology companies decided to close offices and cease activities in the country of Vladimir Putin.
Portuguese Boost IT, a division of Nexus Capital dealing with coastal, which provides technological services to other countries, feels the changes brought by the war to the technological landscape. Speaking to the Observer via video link, Nuno Melo, co-founder of Boost IT and CEO of Nexus Capital, explains that as companies look for new locations for tech projects, Portugal has been one of the alternative markets to avoid the closest conflicts.
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