InnoTech achieves 35% growth and reaches €7M in revenue in 2023

By InnoTech
January 29, 2024 — Articles, Blog

The outlook for 2024 is to achieve a revenue of €12 million.

Portuguese tech firm concludes 2023 with 160 employees and a revenue of €7M. Plans to recruit a hundred talents and reach €12M in 2024. Strong focus on Northern Portugal and the Benelux market. Open positions are available in the Netherlands.


Lisbon, January 24, 2024 – InnoTech, a Portuguese tech company fueled by innovation enthusiasts, closed the fiscal year of 2023 with a revenue of €7 million and a total of 160 employees, marking a remarkable 35% growth compared to 2022 (when it generated €4.6 million) and in line with the company’s evolution since its inception in 2020. The outlook for 2024 is to achieve a revenue of €12 million.

This year, InnoTech plans to hire a hundred employees, primarily in the areas of Software Development, Product and Project Management, and Quality Assurance. Open positions can be viewed at InnoTech Job Portal.

“As we approach the 4th anniversary of InnoTech, besides talent acquisition, we are committed to further strengthening our people retention strategy. We recognize that maintaining a highly qualified and motivated team is essential for our continued success,” emphasizes José Padre Eterno, CEO of InnoTech.

The past year was marked by the launch of InnoAcademy, featuring an OutSystems academy that certified 10 professionals. InnoTech was also recognized for the first time as a Best Workplace (and as a Great Place to Work for the second consecutive year), with the company’s international activities gaining prominence. In this regard, InnoTech established relations with international companies and began positioning its brand in the Benelux markets. It also became a partner of the Portugal Netherlands Chamber of Commerce, facilitating connections with the Dutch business community.

“In 2024, we anticipate the growth of our Nearshore area, resulting in a higher number of projects developed 100% remotely. Additionally, we plan to have a physical presence in projects in the Netherlands, where we currently have open positions. Our clear goal is to consolidate our international activity, where we already have clients and operations running, and strengthen our presence in the northern region of the country, providing a more significant and faster response to the local business environment,” says InnoTech’s CEO.

Driving innovation in all aspects of the business, from services and delivery models to internal processes, will remain a top priority.

Concerning the team, InnoTech understands that the well-being and satisfaction of all employees not only contribute to a healthy work environment but also directly influence productivity, innovation, and the overall success of the company.

In 2023, the company focused once again on its people, organizing initiatives that extended to families, such as a picnic at Calçada da Ajuda and a movie night at Colombo.

“We foster an environment where our teams feel valued and empowered, with a strong sense of belonging and accomplishment at all levels. This reflects our vision that organizational success is intrinsically linked to the happiness and continuous development of each individual,” emphasizes José Padre Eterno.

Among the benefits InnoTech offers its employees are:

  • Health Insurance: Access to a comprehensive health plan providing medical assistance and well-being to employees.
  • Flexible Hours: Valuing the balance between professional and personal life, with extra vacation days and remote work options whenever possible.
  • Continuous Training: Investing in the professional development of employees, offering opportunities for continuous training and skill updates.
  • Innovative Work Environment: Cultivating a stimulating and dynamic environment that promotes collaboration and creativity.
  • Recognition and Rewards Programs: Implementing programs to celebrate individual and team achievements, reinforcing a positive and motivating work environment.

In addition to these benefits, InnoTech also promotes inclusive recruitment and selection policies, aiming to attract diverse talent for a work environment rich in different perspectives, where every voice is heard and respected, regardless of individual backgrounds or characteristics. It also invests in career development, encouraging internal progression, and fosters a culture of constant feedback, providing regular evaluations to support growth and improvement.

InnoTech actively encourages employee participation in decision-making and sees social responsibility as intrinsic to its activity, participating in community initiatives, developing sustainable projects, and contributing to relevant social causes.


About InnoTech

InnoTech is a Portuguese technology company founded in April 2020, currently consisting of a team of 160 innovation enthusiasts. Its business model ensures agility and flexibility in adapting to the current and future needs of clients, regardless of their size or sector, with various delivery models, including time and materials, high-performance squads, and turnkey projects. InnoTech also offers NearShore, CyberTech, and CrowdTesting services, with strategic partnerships with relevant players in the market.

Media Coverage [PT]

Entrevista de José Padre Eterno sobre o crescimento da InnoTech – TSF

Tecnológica de Padre Eterno já emprega 160 pessoas e quer contratar mais 100 – Jornal de Negócios

InnoTech cresce 35% na faturação e aponta aos 12 milhões este ano – Jornal Económico

InnoTech vai contratar 100 novos trabalhadores e projeta faturar €12 milhões em 2024 – Expresso

Esta tecnológica portuguesa vai contratar 100 novos trabalhadores. O objectivo é alcançar os 250 colaboradores este ano ainda – HR Portugal

InnoTech fecha 2023 com um volume de negócios de 7 milhões de euros e 160 colaboradores – Business IT

Faturação da InnoTech cresce 35% em 2023 – IT Channel

InnoTech cresce 35% e está a contractor – Digital Inside

InnoTech cresce 35% e fatura 7M€ em 2023 – AICEP Portugal Global

InnoTech cresce 35% e fatura 7M€ em 2023 – Do IT

InnoTech cresce 35% e fatura 7M€ em 2023 – Creative News

InnoTech cresce 35% e fatura 7M€ em 2023 – FalandoTI