Business Angels in the Algarve: A New Chapter Beyond Tourism

The Algarve is world-renowned for its beaches, sunshine, and hospitality. But behind the postcard-perfect image lies a deeper economic reality: a strong dependency on tourism that leaves the region vulnerable to global fluctuations. That’s why a new wave of initiatives is gaining momentum, fueled by innovation, entrepreneurship, and a fresh network of business angels determined to help reshape the region’s economic future.

By Paulo Lopes, in Business, Algarve · 09 Jul 2025, 12:58 · 0 Comments

This article was sparked by a recent conversation I had via video call with Mark P. Haaksman, one of the co-founders of COREangels Algarve. His passion for transforming the Algarve into a hub of sustainable innovation is both inspiring and strategic. Alongside Wouter Heijnen, who lives with his family in Praia da Luz, they launched this regional chapter of COREangels International, a global network of 300+ investors across more than 20 countries.

Together, they had already started working on the Circular Hub Algarve (www.circularhub.pt) nearly two years ago, driven by the belief that great innovations are not bound by geography. Their mission: to connect international technologies to local challenges such as water scarcity, climate adaptation, and energy transition. Collaborating with institutions such as the University of Algarve (UALG), CCDR, Portugal Ventures, and various municipalities, they have turned the hub into a working model of regional innovation. One standout project involves desalination technology from Delft University, paired with local student teams working on business and marketing development.

Out of this practical ecosystem, COREangels Algarve was born, a platform designed to bring not just capital, but “SMART money” to promising startups. Their angels don’t just invest, they bring experience, mentorship, and access to strategic networks. Many of these investors are successful businesspeople who have chosen the Algarve as their home and are eager to give back, both intellectually and financially.

The fund is now operational, with three Algarve-based startups under review and a second investment cohort currently in the making. A key milestone will be reached on July 11, with an invitation-only gathering at Arvad Wines in Estômbar. This relaxed, informal event will serve as a meeting point for the angel community and showcase one of the ventures currently under consideration. Attendance is free, but space is limited and advance registration is required.

Ultimately, Mark and Wouter aim to build the go-to platform for impact-driven investment in the Algarve and uniting startups, public institutions, academia, and the private sector. Their ambition: to help transition the region from a seasonal tourism hotspot into a year-round innovation hub.

And for me personally, it’s stories like this rooted in vision, collaboration, and action, that inspire me to write. Sometimes, the seeds of transformation are planted not in boardrooms, but in vineyards like the one in Estômbar.

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.