Like all thriving entities, successful institutions are characterised by their ability to adapt to changing environments, grow in strength, sustain themselves, and secure their future legacy. Among these institutions, some stand out as leaders in innovation, playing pivotal roles in their respective fields. INESC TEC proudly stands as one such institution, with its roots tracing back to the establishment of INESC in Northern Portugal in 1985, evolving into INESC Porto in 1998, and eventually culminating in the formation of INESC TEC in 2015.
Several generations of dedicated researchers, staff, and leaders have shaped this journey. As we approach our four-decade milestone, INESC TEC is on the verge of a significant transition in leadership. This evokes the last major leadership change in 2005 when Portugal’s landscape in research and innovation was markedly different. Then, our country’s investment in R&D was just 0.8% of GDP, with only four researchers per 1.000 active individuals in the workforce. Fast forward to 2022, and we see these figures more than doubled: 1.73% of GDP is dedicated to research, and 11 researchers per 1.000 are active in the population, reflecting our sector’s substantial growth and evolution.
Turning our attention to the economic impact of innovation, we can appraise progress using the technology trade balance as an indicator. In 2005, this balance was negative by 200 million euros, representing 0.2% of GDP. By 2022, it had shifted to a positive figure exceeding 2.000 million euros, about 0.6% of GDP. Additionally, in 2022, Portugal’s exports, an indicator of our economy’s competitiveness in international markets, hit an impressive milestone of 50% of GDP, a significant leap from the 27% mark in 2005.
INESC TEC has observed this remarkable transformation and has been an active participant and leader in driving it. Our collective efforts have been dedicated to making meaningful and recognised contributions to developing the country’s Science, Technology, and Innovation System in our fields. This commitment has earned us national and international acclaim, thrusting our growth in size and the tangible impact of our work.
In December 2005, our team comprised 260 people, including 78 PhDs, most of whom were university faculty members. Since then, our numbers and the volume of our annual project financing have multiplied by four to five times. This growth rate outpaces the national evolution in science and innovation during the same period. We have expanded from our initial research groups to a large, complex institution thanks to a governance model that has adapted and guided us through this significant transformation.
We have faced our fair share of challenges, too. The financial crisis in 2008 and the pandemic three years ago tested our resilience, bringing uncertainty and risks that were difficult to navigate. Yet, like our country, we emerged from these crises more robustly. Today, INESC TEC is more recognised than ever for its impactful scientific contributions.
All our achievements have been the result of teamwork – the collective effort of over 1.000 restless, creative, and generous individuals. Each person brings their unique energy and dreams, fuelling our common accomplishments and driving us forward.
As this year draws to a close and we look forward to the next, there is much to be proud of and excited about. Our deepening involvement with the Recovery and Resilience Plan (PRR) is a testament to our dedication to driving transformative change across various industries in our country. Our ambitions for our participation in PRR are not just set on growth – since growth is no longer enough – but on making a significant, tangible impact across various sectors. Collaborating with our partners, our teams are determined to bring breakthrough solutions to fruition, redefine industry standards and practices, and move the forefront of industrial transformation. We genuinely aim to leverage our expertise and partnerships to advance science and technology towards economic and societal impact.
As we continue our journey with PRR at INESC TEC, the importance of amplifying our commitments has only intensified. Our focus on harnessing the synergies between PRR’s opportunities and our ongoing efforts is more crucial than ever. These collaborations are key to strengthening our presence in Europe, enhancing our R&D services, and expanding our technology transfer capabilities. More so, they reinforce our dedication to making significant contributions to Portuguese society through science. This unique opportunity is not just a responsibility, but a chance to underscore the vital role of science in our country’s future.
Our significant growth in European projects also confirms a key shift in our operational landscape. These international and European endeavours are increasingly becoming our natural space — our home. They not only reflect our expanding global influence but also our commitment to being at the forefront of international research and innovation.
We extend our heartfelt thanks to each one of you. Your bold dreams, relentless spirit, and innovative minds are what make INESC TEC a leader in our field. We trust in the guidance of those stepping up to lead INESC TEC into the future and are grateful for their dedication. A special message to our younger members: believe that your voice is not only heard but valued; your initiatives are appreciated, and your efforts are making a real impact. You are the driving force behind our future, and you play a crucial role in helping INESC TEC continue to shape the world of tomorrow.
Warm Season’s Greetings to all, and here’s to a fantastic and prosperous 2024!
José Manuel Mendonça (Chairman of the Board)
João Claro (Vice-Chairman and CEO)
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