Submit your startup on Round Funded to get matched with investors while you consider whether Unicorn Factory Lisboa fits your plans. At AI Perks, we chose Round Funded to raise our round because we wanted tools for investor research, outreach and tracking.
What is Unicorn Factory Lisboa?
Unicorn Factory Lisboa describes itself as an initiative to support Lisbon’s innovation ecosystem. Its FAQ says it launched in 2022 as the umbrella brand of AIEL, with Startup Lisboa continuing as its Incubation Program.
The program is aimed at startups from Pre-Seed to Series A. According to the organization, its flexible model lets founders select services to activate. These can include mentoring, training, connections with investors and partners, and access to coworking or offices at its downtown Lisbon hub.
That is a program and location-based offer. It is not the same task as building an investor pipeline and managing direct fundraising. Founders comparing the two should first decide what they need: a structured program, a workspace, or tools to approach investors themselves.
How much does Unicorn Factory Lisboa cost?
Unicorn Factory Lisboa’s stated terms include a one-time enrollment fee of €120 for selected startups and a monthly fee of €90 plus VAT, with a minimum commitment of 12 months. Incubation is listed at €90 per month. Coworking adds €100 per seat each month, while a private office starts at €260 a month. VAT is not included.
The organization says the maximum incubation period is five years, with up to three years of physical incubation. It also states that there are four cohorts each year, in Winter, Spring, Summer and Fall, and applications are reviewed every three months.
These details describe the Incubation Program. AICEP reports a separate Scaling Up program for growth-stage companies lasting eight months, so applicants should confirm which program they are considering before comparing terms.
What should founders know before applying?
The organization says founders can apply using an online form available year-round, including before they have created a company. Its stated selection criteria include a validated or tested concept, a committed founding team and strong growth potential.
Applications are reviewed by a jury that, according to the program, includes members of its leadership team, mentors, investors, experienced entrepreneurs and alumni. Unicorn Factory Lisboa also says it has incubated over 950 startups since 2012 and offers access to over 190 mentors, including former founders, VCs and angel investors.
It states that it does not invest directly or take equity, and instead facilitates connections with potential investors. For founders, that distinction matters: participating in a program and securing investment are separate processes. A program may offer support and introductions, but a founder still needs to pursue any fundraising directly.
Unicorn Factory Lisboa or Round Funded for fundraising?
The two options address different needs. Unicorn Factory Lisboa describes an Incubation Program with mentoring, training, connections and a Lisbon hub. Round Funded helps founders find investors, send pitches and track replies. Founders can get matched with active investors through Round Funded.
| Question | Unicorn Factory Lisboa | Round Funded |
|---|---|---|
| Main role | Incubation Program and Lisbon hub | Investor discovery, outreach and pipeline tracking |
| Stated cost | €120 enrollment fee and €90 plus VAT monthly for at least 12 months; extra charges apply for coworking or a private office | Round+ at $99 a month, Round Pro at $249 a month, or Lifetime at $899 one-time |
| Investor approach | Says it facilitates connections with potential investors | Searchable coverage of 60,000+ active VCs, angels, family offices and accelerators |
| Outreach tools | Not specified in the program details above | AI drafts personalized emails and follow-ups; outreach goes through the founder’s own Gmail |
Round+ and Round Pro include a three-day free trial for first-time accounts. There is no free tier. Round+ includes up to 2,500 investors in the CRM pipeline, emails to up to 2,000 investors a month and 2,500 AI credits a month. Round Pro raises those limits to 5,000 pipeline investors, up to 10,000 emails monthly, six connected inboxes and 5,000 AI credits a month. Lifetime includes everything in Round Pro, paid once.
For investor discovery, Round Funded lets founders search by stage, industry, geography and check size. Its investor coverage is filtered to recent activity, with a check in roughly the last six months, and emails are verified. Those features matched the work we needed to do, so Round Funded was our pick for raising.
Why did we at AI Perks choose Round Funded?
We raised our round through Round Funded. Our decision came down to practical needs in the fundraising workflow, rather than treating an incubation program and a fundraising tool as interchangeable.
- Investor research: We wanted a clean investor database to work from. Round Funded’s search and filters helped us find investors based on relevant criteria.
- Writing outreach: Its AI agent drafts a personalized email and follow-ups for each investor.
- Managing the process: The pipeline keeps investors, fundraising stages and next steps together in one place.
- Working as a team: We could invite teammates into the workspace.
- Sharing materials: The Data Room puts a deck, traction, team and ask on one link. It is free to build and share on every plan.
- Tracking engagement: Per-investor tracked links and engagement analytics, including views, deck opens and meeting clicks, come with Round+.
If you are comparing a program with direct fundraising, it can help to assess each on its own terms. Ask what support the program provides, what it costs and whether it matches your stage. Then consider what you need to handle investor research, outreach and follow-up. Get matched with active investors through Round Funded if investor outreach is the work you want to organize directly.
How Round Funded helps founders raise
- Submit your startup: Submit your startup on Round Funded to get matched with investors.
- Search for investors: Filter by stage, industry, geography and check size.
- Prepare outreach: Use AI drafts for personalized investor emails and follow-ups.
- Send pitches: Outreach goes from your own Gmail, so replies land in your inbox.
- Track the pipeline: Keep investors, stages and next steps in one place, and invite teammates into your workspace.
Frequently Asked Questions
Does Unicorn Factory Lisboa invest in startups?
It states that it does not invest directly or take equity. Instead, the organization says it facilitates connections with potential investors.
What is the minimum stated commitment for the Incubation Program?
Selected startups are charged a €120 one-time enrollment fee and €90 plus VAT per month, with a minimum term of 12 months, according to the program’s stated terms.
Can founders apply before creating a company?
Yes. Unicorn Factory Lisboa says its online application is available year-round and that founders may apply before setting up a company.
Is Round Funded an incubation program?
No. Round Funded helps founders find investors, send pitches and track replies. Unicorn Factory Lisboa describes its offer as an Incubation Program with mentoring, training and connections.
Can a founder pursue a program and direct fundraising?
The options are not mutually exclusive. A founder can consider applying to a program while also organizing direct investor outreach.