It was in the 80’s that the idea of creating a technology park such as Tagus Park arose, intending to bring Portugal closer to the technological level of other European countries, such as France and Germany. The city of Oeiras was chosen due to having a development plan with a futuristic vision that did not exist in any other part of the country. The space has been called the City of Knowledge since 2019, as a "result of the perception that one has to make the brand even more designated and reflect the current values of modernity."
In Eduardo Correia's opinion, knowledge is the word that best defines TagusPark, as “knowledge is transmitted in the Instituto Superior Técnico and knowledge is created in research centres and the experiments that some of the start-ups carry out in the Incubator.”
Quality of life
According to Eduardo Correia, companies discovered in TagusPark the necessary conditions to develop their activities. These conditions the CEO calls "support for quality of life, well-being and happiness in the workplace." The DNA of the space has a uniqueness that comes from the combination of the "international school with the research centres and the know-how that different customers and suppliers bring." Eduardo Correia believes that the modern architecture present in the space helps people to feel good in their workplace, as well as having a concept of civics route that calls people to good habits that will be beneficial to the environment.
TagusPark aims to save water and energy, as well as avoid cigarette butts on the ground and badly parked cars. To produce energy more sustainably, around 1,600 photovoltaic panels were installed and contribute to around “25 percent of the total energy consumption” of the park, but it is expected to be able to use only solar energy in the approximate areas of the park. At TagusPark, waste, such as cigarette butts, is also used to build bricks for civil construction, by the hands of a start-up. To offer “labour dignity” those responsible for the park increased the salaries of resident employees, namely in the area of cleaning, security, and gardening. According to Eduardo Correia, "everyone earned the minimum wage and through a prize awarded by TagusPark, they started to receive around €900 and €1,200 a month."
TagusPark manages to be a way to launch start-ups that need the park as conditions that force them to launch their idea. The infrastructure has a set of intangibles that "aim to support the development of new projects, new companies, linked to life sciences, new technologies, environmental sustainability, oceanographic economics, aerospace" networking and financing that allows "entrepreneurs who may have some greater sustainability route and they may be very successful.” The Talk Desk brand, which was renewed internationally started in the TagusPark Incubator, is an example of success.
The City of Knowledge is a developing city that offers services to the entire population, not restricted to the community that works at TagusPark. Eduardo Correia reveals that there are services for a population that serve the entire population such as "the traditional market every Tuesday." However, those arriving at the park can still study an urban art museum and walking routes. The CEO of TagusPark states that the City of Knowledge is “an open city”, where people can enjoy hairdressing, and pharmacy services, for example. In the future, Eduardo Correia hopes to open a supermarket “based on high-tech processes.”
Despite all the conditions at TagusPark, much sought after by those who want to see their company grow, Eduardo Correia admits that Portugal, despite having "qualified labour, a privileged relationship with Portuguese speakers", presents fiscal problems that make the establishment process of business bureaucratic. The CEO of TagusPark says that despite several positive aspects, the projects "are held back and impeded by issues that political power must resolve."