Chinese conglomerate Fosun International has announced the best entrants in a competition open to start-up companies in Portugal. The contest aims to introduce young Portuguese entrepreneurs to Chinese investors, Chinese state-run news agency Xinhua reported.

Fosun and Portuguese insurer Fidelidade – which Fosun has controlled since 2014 – launched the Protechting start-up competition last year. The two companies held a ceremony last week to announce the top 15 entrants selected.

“Portugal has always been an entrepreneurial country and its future depends on the younger generation,” said Fosun chief executive officer, Liang Xinjun, quoted by Xinhua.

He added the company wanted to launch similar programmes in Europe and the United States after the success in Portugal. “Portugal is our gateway for Fosun to enter Europe,” he noted.

The top three winners of the competition would join a road show in China in June, the report said. “We want to introduce young Portuguese people to Chinese investors,” Mr Liang noted. “I think it is exciting for them and an opportunity to not only get money but to find a space in the market.”