The third episode of Negócios com Impacto, a videocast produced in partnership between CATÓLICA-LISBON and Rádio Renascença, introduces us to Vartheo through the voice of Eugeniu Litvinenco, managing director and one of the co-founders of this Portuguese startup, which is using artificial intelligence (AI) to revolutionise how market research is conducted. In the interview, he shares how an idea born among master’s classmates evolved into an innovative company with a real impact on the Portuguese business landscape.
Vartheo emerged almost organically from exploratory work among classmates in the Business Analytics master’s programme at CATÓLICA-LISBON. Driven by curiosity and a passion for experimenting with AI models, they began with practical exercises that eventually laid the groundwork for the project.
The turning point came during the debates surrounding the most recent legislative elections, when they realised that political speeches could be tested on virtual personas. “We noticed that this kind of discourse could easily be tested on our platform to understand which parts resonate most, in what way they influence people, and what gets retained”, Eugeniu explains.
The concept quickly evolved from a purely experimental idea into a business-oriented solution, with a clear value proposition: helping companies test advertising campaigns, products, and communication strategies with digital populations through personas created from real data, collected with consent and in full compliance with GDPR. “The people we replicate know they are being replicated. And they are rewarded. We don’t replicate sensitive information. What matters to us is understanding preferences, how people think, how they make decisions,” he says.
Throughout the journey, support from CATÓLICA-LISBON proved crucial. Eugeniu highlights the guidance of Professor Pierre Jean, Executive Director of the CLEC (CATÓLICA-LISBON Entrepreneurship Center), who took on the role of mentor, opening doors and sharing knowledge and experience. He also acknowledges Professor Maria Estarreja, now a member of Vartheo’s advisory board, as well as Professor Nicolau Bertin, who supports the project’s technical development. On the ethical side, Professor João César das Neves continues to provide strategic guidance.
Today, Vartheo has a team of seven. Its founders are CATÓLICA-LISBON alumni, with backgrounds in Business Analytics and Marketing. Despite being a young company, Vartheo is experiencing steady growth. With five active clients, the startup is preparing for a funding round and has already received cloud support from Microsoft, which was vital in the early stages. “We are working to increase revenue, market traction, and financial stability”, says Eugeniu.
When asked about Vartheo’s impact, Eugeniu is clear: “We’re doing what has never been done before. We extend the real person into the virtual world. This mechanism we’re developing has the potential to create an impact far greater than what we’re seeing today”. And even amid concerns surrounding AI, he remains confident in its potential. “Factories were scary at first too, and they ended up being the solution”.
An episode now available to watch and listen on Spotify and YouTube channels.