2019 was a record year in Venture capital investment in Spanish startups, with 723 million euros, the best figure historically. The volume of investment in startups from both Venture Capital and other investors reaches 1.218 billion euros, with an increase of 44% in the number of investment operations. In 2020, investments recovered during the second and third quarters, following an initial drop caused by the pandemic. The number of financing operations in the third quarter increased by 46% compared to the same period in the previous year.

Trends of Venture capital investments in Spanish startups

EMPRENDIMIENTO_GRÁFICO_INVERSIÓN_ING.png

Source: Startupxplore

Advantages to investing in Spain’s

entrepreneurial ecosystem

Access to a domestic market of 46 million people and to the European market with 450 million people.

Point of entry to the Latin American market for European startups, and to the European market for Latin American startups.

Highly-specialized talent from internationally renowned universities and business schools.

Spanish companies and Spanish society have one of the highest ICT usage and incorporation rates in the world.

A set of leading global multinationals with ambitious open innovation models.

A highly specialized industrial sector throughout Spain, with its own special programs for startups.

More than 80 science and technology parks.

Events and meetings for leading global entrepreneurs.

What we can do
for your startup

Download

the Starting up in Spain Guide

All you need to know about the entrepreneurship ecosystem in Spain.

Download

Program

Rising Up in Spain

Our softlanding program for foreign startups.

Find out more

EMPRENDIMIENTO_GRÁFICO_MAPA_2020_ING.png

Over 4,000 startups in Spain

More than 3,518 startups operate in Spain, making this country one of the most vibrant in European technology, along with other ecosystem players. The benchmark hubs in Madrid and Barcelona, which are listed among the 6 most important in Europe, are joined by other very attractive ecosystems, such as those in Valencia, Bilbao and Malaga, etc, as a result of the richness and diversification of the technology environment throughout Spain. The sectors with the highest levels of activity and growth are mobility, logistics, fintech, insurtech, travel, tourism, business, proptech (real estate sector), healthcare, software, cybersecurity, and e-commerce.

Barcelona and Madrid are among the “Top 6” startup ecosystem capitals in Europe.

Barcelona ranks fifth among the best startup cities in Europe, followed by Madrid. London, Paris, Berlin and Dublin hold the top positions.

Source: TBS Business School and El Referente.

Top 20 / Rounds 2019

In 2017 the number of startups that closed capital rounds of over €10 million doubled that of 2016.

In total, Spanish startups raised €1.3 bn in capital rounds in 2018.

Source: StartupXplore

More than 180 startup accelerators and incubators

Support in forming and establishing startups from both the public and private sectors is apparent from the start in business accelerators and incubators. There are over 180 infrastructures of this type throughout the Spanish territory that offer advice and support for entrepreneurs.

Source: StartupXplore

Spain is a fertile territory

for co-working

Spain ranks second in Europe in number of co-working spaces, after the United Kingdom.

According to a 2019 report by Mobile World Capital Barcelona, the ongoing growth in number of co-working spaces suggests that the Spanish entrepreneurial system is booming and is recognized as an affable environment that fosters entrepreneurship and innovation.

Talent

in human capital

Three of the main Spanish business schools are among the top 20 of the Financial Times MBA ranking: IESE Business School, Esade Business School. and IE Business School.

At the same time, Spain is among the countries with the fastest increase in professional developers, a profession with a year-on-year growth rate of 15.1%.

Global MBA ranking 2020

European Business School

Global MBA ranking 2020
Ranking	School name	Country
1	Insead	France / Singapore
2	London Business School	United Kingdom
3	HEC	France
4	IESE Business School	Spain
5	University of Cambridge: Judge	United Kingdom
6	University of Oxford: Saïd	United Kingdom
7	Esade Business School	Spain
8	IMD	Switzerland
9	SDA Bocconi	Italy
10	Warwick Business School	United Kingdom

Source: Financial Times 2020.

Top 10 fastest-growing countries

for professional developers (2019 versus 2018)

Source: Atomico.

Wage costs

As far as wage costs are concerned, Spain is still very competitive compared to other European countries and the rest of the world.

Spain also attracts foreign talent. It is the third destination for European tech talent and the fifth for international tech talent.

Strengths of the Spanish

enterpreneurship ecosystem

Senior software engineer salary (€ per year)

Source: Digital Startup Ecosystem 2017" Mobile World Capital 2018.Atomico, Startup Genome.

Source: Digital Startup Ecosystem 2017" Mobile World Capital 2018. Atomico, Startup Genome.

Climate
and quality of life

Spain's excellent climate and quality of life are other aspects that entrepreneurs take into account when choosing our country to set up their new businesses.

Testimonials

of Rising Up in Spain

See testimonials

Biome Makers Inc.

Adrián Ferrero CEO & Co-Founder

After getting the support of the program we were able to explain to our investor that it makes sense to put money and efforts in Spain. The program increased our visibility in the Spanish market because we were a completely new company, so this program has helped us a lot in building our reputation and in gaining a broad presence, which has an impact on clients and potential stakeholders.

Knok Healthcare Spain

Gonzalo Rodríguez Country Manager

The most important one [value added from the program] was to understand what the main challenges are that we are going to face in the coming months in Spain, and to increase our visibility in Spain. Also, the opportunity to have the best mentors for our company and team was crucial for the development of Knok in Spain."

News

See all

Events

See all

Presentation: Programa Rising Up in Spain in Italy

Online /

01/26/2021 - 01/26/2021

ICEX-Invest in Spain, in collaboration with the Economic and Commercial Office of the Embassy of Spain in Milan, organizes the presentation of the Rising Up in Spain program among Italian startups on January 26th.

Opportunities for renewable energies and building materials in Spain

Online / Austria

01/28/2021 - 01/28/2021

ICEX-Invest in Spain will take part in the webinar "Opportunities for renewable energies and building materials in Spain" organized by the Austrian Foreign Investment Agency, Advantage Austria.

WEBINAR: 'The Spanish FoodTech sector - Status and opportunities for its internationalization 2021'

Online / Spain

01/29/2021 - 01/29/2021

ICEX organizes the webinar 'The Spanish FoodTech sector - Status and opportunities for its internationalization 2021' in which it will be presented the annual report of the sector.

More information

Setting up a company

The different ways in which a company can operate in Spain.

More information

Aids and incentives

System of subsidies and incentives for your project.

More information

Talent

Get to know the Spanish talent pool for your project.

More information

Visas

Visas and residence permits to live and work in Spain.

Entrepreneurship

Spain, an entrepreneurial ecosystem at its best

Advantages to investing in Spain’s

entrepreneurial ecosystem