Spanish startups and venture capital – 2023
New favourable entrepreneurship tax incentives, trade bridges to Latin America, levelled up digital infrastructure, and less of a venture shock than most of the world. We run down USPs and KPIs of the Spanish tech ecosystem, in partnership with kfund, Endeavor, GoHub Ventures and BBVA Spark. Download the full report below.
The Spanish tech ecosystem is now worth €93B, up 3.6x since 2018.
The growth in the nation’s ecosystem value has been driven by the emergence of four new homegrown unicorns: Factorial, Fever, Domestika and TravelPerk.
€4B of venture capital raised in 2022, Spain’s second highest annual total.
Spain ranks 6th in Europe and 16th globally for total investment raised in 2022.
Spain showed stronger resilience than European peers in 2022, with VC Investment dropping only 11% from 2021. Early-stage investment reached a record high of €1.9B.
Spain Startup Law
The Spanish Startup Law aims to facilitate the creation and development of Spanish startups.
Law for the Promotion of the Startup Ecosystem, or Startup Law, which came into effect in January 2023 is conceived under the framework of the Spain Entrepreneurial Nation strategy, to encourage the creation and development of startups in the country, by recognizing their unique status and risks: business model, potential for growth, need for high skills workers locally and abroad.