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Pictures | Fri Dec 21, 2012 | 8:10am EST

Insight: From cakes to tech, bold startups defy Portugal crisis

An employee moves a baking tray at an outlet of The Portuguese Bakery in Lisbon December 21, 2012. REUTERS/Rafael Marchante

An employee moves a baking tray at an outlet of The Portuguese Bakery in Lisbon December 21, 2012. REUTERS/Rafael Marchante

An employee moves a baking tray at an outlet of The Portuguese Bakery in Lisbon December 21, 2012. REUTERS/Rafael Marchante
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Nuno Carvalho (R), 34, CEO of The Portuguese Bakery, speaks with a customer at one of its outlets in Lisbon December 21, 2012. Few things encapsulate Portugal better than its bakeries, where people from all walks of life mingle over coffee and cake. So when a whole new chain emerges in the depths of an economic crisis, it sends a glimmer of hope. REUTERS/Rafael Marchante

Nuno Carvalho (R), 34, CEO of The Portuguese Bakery, speaks with a customer at one of its outlets in Lisbon December 21, 2012. Few things encapsulate Portugal better than its bakeries, where people from all walks of life mingle over coffee and cake....more

Nuno Carvalho (R), 34, CEO of The Portuguese Bakery, speaks with a customer at one of its outlets in Lisbon December 21, 2012. Few things encapsulate Portugal better than its bakeries, where people from all walks of life mingle over coffee and cake. So when a whole new chain emerges in the depths of an economic crisis, it sends a glimmer of hope. REUTERS/Rafael Marchante
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Nuno Carvalho, 34, CEO of The Portuguese Bakery, poses at one of its outlets in Lisbon December 21, 2012. REUTERS/Rafael Marchante

Nuno Carvalho, 34, CEO of The Portuguese Bakery, poses at one of its outlets in Lisbon December 21, 2012. REUTERS/Rafael Marchante

Nuno Carvalho, 34, CEO of The Portuguese Bakery, poses at one of its outlets in Lisbon December 21, 2012. REUTERS/Rafael Marchante
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Nuno Carvalho, 34, CEO of The Portuguese Bakery, clears tables on a terrace at one of its outlets in Lisbon December 21, 2012. REUTERS/Rafael Marchante

Nuno Carvalho, 34, CEO of The Portuguese Bakery, clears tables on a terrace at one of its outlets in Lisbon December 21, 2012. REUTERS/Rafael Marchante

Nuno Carvalho, 34, CEO of The Portuguese Bakery, clears tables on a terrace at one of its outlets in Lisbon December 21, 2012. REUTERS/Rafael Marchante
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A laboratory worker handles instruments at the Cell2B biomedical company near Lisbon December 18, 2012. Cell2B is preparing for clinical trials of promising cell therapies aimed at eliminating transplant rejection in humans, after which the founders do not rule out a share offering. REUTERS/Rafael Marchante

A laboratory worker handles instruments at the Cell2B biomedical company near Lisbon December 18, 2012. Cell2B is preparing for clinical trials of promising cell therapies aimed at eliminating transplant rejection in humans, after which the founders...more

A laboratory worker handles instruments at the Cell2B biomedical company near Lisbon December 18, 2012. Cell2B is preparing for clinical trials of promising cell therapies aimed at eliminating transplant rejection in humans, after which the founders do not rule out a share offering. REUTERS/Rafael Marchante
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Laboratory instruments are seen at the Cell2B biomedical company near Lisbon December 18, 2012. Cell2B is preparing for clinical trials of promising cell therapies aimed at eliminating transplant rejection in humans, after which the founders do not rule out a share offering. Picture taken December 18, 2012. REUTERS/Rafael Marchante

Laboratory instruments are seen at the Cell2B biomedical company near Lisbon December 18, 2012. Cell2B is preparing for clinical trials of promising cell therapies aimed at eliminating transplant rejection in humans, after which the founders do not...more

Laboratory instruments are seen at the Cell2B biomedical company near Lisbon December 18, 2012. Cell2B is preparing for clinical trials of promising cell therapies aimed at eliminating transplant rejection in humans, after which the founders do not rule out a share offering. Picture taken December 18, 2012. REUTERS/Rafael Marchante
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