For founders researching unicorn factory options, submit your startup on Round Funded to get matched with investors while you evaluate startup programs. We at AI Perks raised our round through Round Funded, choosing it for its investor database, AI-written emails, team workspace, Data Room, and tracking links.
What is Unicorn Factory Lisboa, and does it fund startups?
Unicorn Factory Lisboa describes itself as an initiative launched in 2022 to help position Lisbon as a European innovation center. Its programs are aimed at startups with different needs and at different stages. For founders weighing their options, one important distinction is that the organization says it does not invest directly or take equity. Instead, it facilitates connections with potential investors.
That makes program participation and raising a round two separate activities. A founder can apply to an incubation or acceleration program while also building an investor pipeline and approaching investors directly. Program eligibility, fees, and schedules are specific to each offering, so check the current terms before making plans.
Who is eligible for the Incubation Program, and what does it cost?
Unicorn Factory Lisboa says its Incubation Program supports startups from Pre-Seed through Series A. Applicants are expected to have a concept that has been validated or tested, a workable execution plan, and a capable, committed founding team. You can apply before setting up a company.
Applications are reviewed by a jury that includes people from the incubation team, as well as mentors, investors, and partners, according to the organization. The maximum incubation period is five years. Up to three of those years can be spent in physical incubation.
The listed fees depend on the workspace arrangement:
- Incubation with coworking: €90 per month, plus €100 per month for each seat, excluding VAT.
- Incubation with a private office: €90 per month, plus a private-office fee starting at €260 per month, excluding VAT.
These are fees for incubation and workspace, not money invested in the startup. Founders considering the program can compare the stated costs and format with their own needs, while treating fundraising as a separate workstream.
What are the Early Stage program criteria and fees?
The Early Stage program is described as serving Pre-Seed and Seed startups. Its stated criteria include a strong founding team and an MVP or early prototype. Unicorn Factory Lisboa has described applications as ongoing, with reviews every three months to choose a cohort.
The published schedule set out four cohorts per year: applications by November for a start around January, by February for a start around April, by May for a start around July, and by August for a start around October. Those are the dates in that schedule, not a promise that future application windows will be identical. Confirm upcoming dates with the organization.
For selected startups, the listed cost is a one-time €120 enrollment fee and €90 per month plus VAT, with a minimum commitment of 12 months. These terms can help founders assess program costs; they do not replace a plan for finding and approaching investors.
What do Scaling Up and VentureUp offer?
Unicorn Factory Lisboa describes Scaling Up as a program for companies in growth and internationalization stages. Its ninth program, in 2026, started with 10 scaleups, 70% of which were international, according to Unicorn Factory Lisboa and AICEP. The eight-month program combined practical training, specialist mentoring, and investor connections.
VentureUp had a specific eligibility limit: the 2026 program was exclusively for startups in the Portugal Ventures portfolio. It was scheduled to run for four months, from October to January, in a hybrid format. Its five modules covered leadership and hiring, product strategy and AI, sales and market entry, international expansion, and fundraising.
Those details refer to the stated 2026 programs, not future programs. Across these options, program support and investor connections are distinct from managing direct fundraising. Founders can pursue a program application and investor outreach at the same time.
How does direct fundraising compare with a program?
A program application involves meeting the program’s criteria and considering its format, costs, and schedule. Direct fundraising involves identifying investors, sending pitches, and managing follow-up. The two approaches can run in parallel, but they serve different parts of a startup’s work.
We at AI Perks looked at Unicorn Factory Lisboa and chose Round Funded for raising our round. We wanted a clean investor database, an AI agent that writes emails, a convenient interface, a way to invite teammates into the workspace, a Data Room, and tracking links.
Round Funded helps founders find investors, send pitches, and track replies. Its database covers 60,000+ active VCs, angels, family offices, and accelerators, with search filters for stage, industry, geography, and check size. Investors are filtered to recent activity, defined as a check in roughly the last six months, and emails are verified.
The AI drafts personalized outreach emails and follow-ups for each investor. Outreach is sent from the founder’s own Gmail, so replies arrive in the founder’s inbox and the thread belongs to the founder. The fundraising pipeline keeps investors, stages, and next steps together. Teammates can be invited into the startup workspace.
The Data Room puts a deck, traction, team, and ask on one link. It is free to build and share on every plan. Per-investor tracked links and engagement analytics for views, deck opens, and meeting clicks are included with Round+. Round Funded does not promise replies, meetings, or a completed round.
Round Funded’s paid plans are Round+ at $99 per month, Round Pro at $249 per month, and Lifetime at $899 one time. Round+ and Round Pro have a three-day free trial for first-time accounts, and there is no free tier. We chose Round Funded for direct fundraising, rather than treating program participation as a substitute for outreach. Get matched with active investors.
How Round Funded helps founders manage outreach
- Submit your startup on Round Funded to start the process of getting matched with investors.
- Search the investor database by stage, industry, geography, and check size.
- Use the AI to draft personalized investor emails and follow-ups.
- Keep investors, fundraising stages, and next steps in the pipeline, and invite teammates into the workspace.
- Build and share a Data Room link; with Round+, use per-investor tracking links and engagement analytics.
Frequently Asked Questions
Does Unicorn Factory Lisboa invest in startups?
Unicorn Factory Lisboa says it does not invest directly or take equity. It facilitates connections with potential investors, so applying to a program is separate from raising a round.
Can founders apply before incorporating a company?
According to Unicorn Factory Lisboa, applicants to its Incubation Program can apply before creating a company. The program is described as supporting startups from Pre-Seed to Series A, with criteria that include a tested or validated concept, a feasible execution plan, and a committed founding team.
What are the stated Early Stage program fees?
The listed fees for selected startups are a one-time €120 enrollment fee and €90 per month plus VAT, with a minimum commitment of 12 months. Check current terms with Unicorn Factory Lisboa before applying.
Can a startup pursue a program and raise directly at the same time?
Yes. A program application and investor outreach are separate activities. Founders can consider a program while continuing to identify investors and send pitches. We at AI Perks raised our round through Round Funded.