The entrepreneurship ecosystem, specifically for innovation and disruptive business models, is experiencing its best moment to date in Spain. Its vibrant pulse is a reflection of the growth in the creation of startups, a robust cohort of scaleups becoming competitive players domestically and internationally, and an investment environment that supports ever-bigger funding rounds. The new Startups Law passed on December 2022 introduces a new framework of tax and labour incentives conducive to higher investment and talent attraction in emerging technology-based companies in Spain.

Venture capital investment trends

Investment in startups has remained quite robust during 2022 against a very complicated international economic backdrop. The volume of venture capital flowing to startups was the second-highest in the historic data series, and the number of investment operations topped all previous years with a record 424.

Source: Observatorio de startups. Fundación Innovación Bankinter

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 programmes for startups.

More than 80 science and technology parks.

Events and meetings for  leading global entrepreneurs.

What we can do
for your startup


the Starting up in Spain Guide

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

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Rising UP in Spain

Rising UP in Spain is a program to help foreign startups set up in Spain, hand in hand with a local partner.

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Booming ecosystem

With approximately 11,000 active startups in 2022, and extraordinary investment numbers, the technology entrepreneurship ecosystem continues to accelerate its growth and strengthen its place among the most important in Europe. A unique feature of the Spanish ecosystem among its European peers is that there are two main hubs, Barcelona and Madrid, among a large group of cities and regions that are successfully fostering technology startups, like Valencia, Bilbao or Malaga, to name just the larger ones. Over 80% of the funds raised by Spanish startups is provided by international investors, mainly in growth funding rounds, a fact that highlights the strong appeal and keen interest in our country´s entrepreneurial ecosystem for foreign capital.

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 (M€) – 2022

The verticals that received the most venture capital investment during 2022 are: business/productivity, traveltech, mobility/logistics, adtech/marketing, and real estate/proptech. Also of note are health/wellbeing, fintech, foodtech, and edtech, which registered smaller rounds but a larger number of operations

Source: Observatorio de startups. Fundación Innovación Bankinter

More than 250 startup accelerators and incubators

Browse incubators and accelerators operating throughout Spain.

Source: StartupXplore

Spain is a fertile territory

for co-working

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


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


and human capital

Four Spanish business schools ( IESE Business School, IE, Esade y EADAl) rank among the European’s top 20 business schools

Source: (Bloomberg Report 2022)









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 2023

European Business School

Global MBA ranking 2023
Ranking Business School Country
1 Insead France
2 SDA Bocconi Italy
3 IESE Business School Spain
4 London Business School UK
5 HEC Paris France
6 Esade Business School Spain
7 IE Business School Spain
8 ESCP Business School France
9 University of Oxford: Saïd UK
10 University of Cambridge: Judge UK
... ... ...
30 Eada Business School Barcelona Spain
Source: Financial Times

Top 10 fastest-growing countries

for professional developers (2019)

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

entrepreneurship ecosystem

Systems engineer salary (€ per year)
Source: Startup Ecosystem Overview 2019. Mobile World Capital Barcelona
Source: Digital Startup Ecosystem 2017" Mobile World Capital 2018. Atomico, Startup Genome.

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.  

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Our advisors will inform and

support you in setting up your business

Rising UP in Spain

See all the testimonials


Gonzalo Aguero & Angelina Vigliocco Founders

Rising UP in Spain programme first helped us with understanding the market, and then with understanding the legislation and the culture. It has also connected us with great partners who can make our entry much cheaper, simpler and more certain".

Invisible Collector

Pedro Mendes & Miguel Rangel Founders

ICEX-Invest in Spain and the Rising UP in Spain programme have been a major part of our international adventure. They have given us the opportunity to work close to the market, to understand companies and their needs, to be in Iberia's most significant sector clusters".



ICEX-Invest in Spain will be present at Conecta FICTION & ENTERTAINMENT, which will be held in Toledo from 18 to 21 June. 

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Alhambra Venture 2024

The ICEX-Invest in Spain team will be attending the 11th edition of Alhambra Venture, the largest entrepreneurship event in the south of Spain, which will be held in Granada on 10-12 July, bringing together national and international leaders in entrepreneurship to drive progress and business growth. 

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Setting up a company

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

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Aids and incentives

System of funding and incentives for your project.

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Get to know the Spanish talent pool for your project.

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Visas and residence permits to live and work in Spain.