A New Investment Chapter for the Region Beyond Tourism
The Algarve has long held the imagination of travelers and lifestyle seekers alike. Known globally for its idyllic beaches, 300 days of sun, and vibrant hospitality sector, the region has built an economic engine largely dependent on one powerful but fragile pillar: tourism.
But what happens when the seasons change, planes stop flying, or global trends shift?
A growing group of visionaries believes the Algarve deserves and requires a more resilient economic future. That belief is no longer just talk. It’s taking shape in the form of startups, innovation hubs, public-private partnerships, and most recently, a new COREangels fund dedicated to fueling the next chapter of impact investing in the region: COREangels Algarve.
Beyond the Beach: Why the Algarve Needs Innovation
While the tourism sector has brought wealth and global recognition to the Algarve, it has also created challenges:
- A seasonal workforce with high winter unemployment
- Youth migration to Lisbon or abroad for better job opportunities
- Underutilized infrastructure outside peak months
- And a fragile dependence on factors well outside local control
Mark P. Haaksman and Wouter Heijnen, co-founders of COREangels Algarve, see opportunity in these pain points. Both seasoned entrepreneurs with international experience, they chose the Algarve as their home and as the site of their next mission: building a platform for startups and investors committed to long-term, local impact.
We’re not here to replicate Silicon Valley. We’re here to invest in companies solving real-world problems, starting right here in the Algarve.
— Wouter Heijnen, Co-founder, COREangels Algarve
From Circular Hub to COREangels Algarve: Building the Infrastructure First
This new fund isn’t arriving in a vacuum. It builds on the success of Circular Hub Algarve, which Mark and Wouter launched nearly two years ago.
Their thesis was clear: the Algarve’s challenges, such as water scarcity, climate vulnerability, and energy inefficiency, are also its innovation opportunities.
Circular Hub brought that thesis to life by connecting international technologies to local realities. Among its standout initiatives:
- A pilot project with Delft University on desalination technology, paired with student teams from the University of Algarve working on go-to-market strategies
- Workshops and roundtables with CCDR, Portugal Ventures, and municipal leaders to identify priority areas for regional innovation
- Educational programs to integrate youth and young professionals into applied innovation initiatives
This work laid the groundwork for something more scalable: a fund that could take promising projects from pilot to portfolio, with capital, mentorship, and community.
What Is COREangels Algarve?
COREangels Algarve is part of the global COREangels International network of funds, which includes 300+ angel investors across 20+ countries. But each fund within COREangels is independently led and thematically focused. In this case, the focus is clear:
- Geography: Algarve-based startups
- Thesis: Solutions for climate adaptation, water, energy, and circular economy
- Approach: Smart money from angels who live in or care deeply about the region
These are not passive investors. Many are seasoned business owners, retired executives, or global citizens who have relocated to the Algarve and now want to give back.
The value they bring goes well beyond capital:
- Strategic advice
- Operational guidance
- Access to international networks
- Long-term commitment to local success
Three Startups Under Review and Momentum Is Building
The fund is now live and investing. Three Algarve-based startups are already under review, each aligned with the fund’s climate and sustainability focus. A second cohort is being shaped with several more startups already in early conversations.
These companies are not chasing trends; they’re tackling real issues:
- How to reduce freshwater dependency in agriculture
- How to decarbonize energy use in remote areas
- How to create sustainable construction materials for hot, dry climates
In parallel, COREangels Algarve is developing partnerships with local stakeholders to identify bottlenecks in the ecosystem, everything from founder talent gaps to regulatory friction, and help build bridges between innovators and institutions.
July 11: Where Innovation, Investment, and the Algarve Collide
COREangels Algarve is marking a special moment in its journey an intimate, invite-only gathering at the iconic Arvad Wines estate in Estômbar, set against the rolling vineyards of the Algarve.
On July 11, a handpicked group of angel investors, founders, ecosystem enablers, and public leaders will come together to exchange ideas, share ambition, and co-create the region’s next investment chapter.
This relaxed yet purposeful event will feature:
- A live startup showcase from one of the fund’s early pipeline ventures
- Curated networking with like-minded angels and regional stakeholders
- A collaborative space to help shape the future direction of COREangels Algarve’s investment roadmap
We’re not hosting a conference. We’re hosting a conversation with intent, rooted in the land, inspired by community, and focused on impact.
Because the Algarve isn’t just a beautiful backdrop. It’s a living ecosystem, and it deserves investment that’s as intentional as it is visionary.
This is where the next chapter begins. Quietly. Boldly. Together.
The Bigger Vision: A Year-Round Innovation Hub
The long-term ambition is clear. Mark and Wouter aim to build the go-to impact fund for Southern Portugal, a platform that aligns:
- Municipal governments
- Universities and research institutes
- Founders
- Purpose-driven capital
Together, they believe the Algarve can move from being a seasonal destination economy to a year-round innovation ecosystem, one rooted in circularity, sustainability, and meaningful work.
How to Get Involved
Whether you're a founder building something in the region, an investor living in the Algarve, or an institutional partner focused on sustainability, COREangels Algarve offers a place to connect, collaborate, and co-invest in a better future.
Here’s how you can join the movement:
- Investors: Apply to join the COREangels Algarve fund
- Startups: Pitch your solution for climate and circular challenges
- Partners: Collaborate with the innovation programs
Because the Algarve Deserves More Than One Season
Innovation can happen anywhere. But to make it last, it needs people on the ground, working with heart, head, and long-term commitment.
🌐 Learn more about COREangels Algarve
📩 Connect with the team: Mark P. Haaksman and Wouter Heijnen
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