Empreendedorismo 5.0: supporting seniors entrepreneurship in Portugal
Launched in 2020 by Instituto Pedro Nunes and inspired by successful European models, Empreendedorismo 5.0 is revolutionising the landscape for seniors in Portugal seeking entrepreneurial opportunities. In collaboration with Impact Hub and Better Incubation, this initiative supports seniors through a training and mentoring programme, providing essential tools and support for entrepreneurial success.
As retirement approaches, the prospect of starting a new business becomes an enticing dream for approximately 10% of individuals in Portugal. Strikingly, 73% find themselves compelled to continue working due to financial considerations. In response to this growing trend and inspired by successful models in other European countries, the Instituto Pedro Nunes introduced the Portuguese version of Empreendedorismo 5.0 in 2020. This innovative initiative, developed within the framework of EIT Health, is transforming the landscape for seniors seeking a second career and exploring entrepreneurial endeavors.
In a collaborative effort with European-wide partners under the Better Incubation initiative, Impact Hub joined forces to bring about systemic change, fostering a more inclusive social entrepreneurship environment in the region. Thematic Communities of Practice (CoP) were established to facilitate knowledge exchange and experiences among participants, particularly those interested in supporting entrepreneurs from under-represented groups. Empreendedorismo 5.0 emerged as one of the programmatic approaches within CoP, specifically dedicated to supporting seniors’ entrepreneurship.
Empreendedorismo 5.0, conceptualised within the EIT Health framework, is tailored for individuals aged 50 and above, irrespective of their employment status. Whether employed, unemployed, retired, or inactive, the programme targets those with a business idea, offering them a platform to develop entrepreneurial skills and enhance their experience. The overarching goal is to foster startups focused on healthy living, financial resilience, and active aging, providing participants with new perspectives, tools, and knowledge through a comprehensive eight-week training and mentoring programme.
The programme employs a mixed-format delivery, combining three face-to-face sessions with remote online sessions over eight weeks. This format allows participants to engage conveniently, adapting the learning process to their pace and preferences. Regardless of their location or prior experience, participants benefit from permanent online access to content, trainers, and mentors.
Empreendedorismo 5.0 stands out for its emphasis on building a sense of community. Participants appreciate the trust and camaraderie that the group fosters throughout the programme. One participant shared, “What I appreciate the most is the sense of community involved and the trust that the group has been able to build when it comes to programs.”
Despite being a recent initiative, Empreendedorismo 5.0 has achieved remarkable results. Out of more than 50 selected participants, over 40 seniors actively participated, collaborating with 33 mentors. Three startup projects have already been created and supported within the programme’s framework, hinting at a promising future for seniors’ entrepreneurship in Portugal.
Empreendedorismo 5.0 is not just a programme; it represents a transformative journey for seniors, providing them with the tools, knowledge, and community support needed to embark on entrepreneurial ventures in their golden years. As the initiative continues to evolve, it holds the potential to inspire and empower more seniors to turn their business dreams into reality, contributing to a dynamic and thriving entrepreneurial landscape in Portugal.
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