Spain is a privileged place for the entrepreneurial ecosystem. Not in vain, over the course of 2021, the more than 7,150 startups that had been active in our country until then doubled. Both the number of operations and investment soared throughout the year, reaching 3,084.3 million euros in investment in the sector. This, shows that Spain is one of the most suitable destinations to establish a startup.
Furthermore, this capital has been coming from abroad in a sustained manner over the last four years, in a volume of between 50% and 60%. This means that there is great international interest in the Spanish entrepreneurial ecosystem. It is no coincidence that our first and second cities, Madrid and Barcelona, are part of the most important European clusters.
In short, Spain has become an international benchmark for investment and entrepreneurship. And, aware of this, institutions are betting on the establishment of international startups in our territory.
What are the main characteristics of the entrepreneurial ecosystem in Spain?
As we have said, investment in the early stages of startups in Spain has experienced pronounced and sustained growth in recent years. There’s a broad dynamism in the sector, favored by circumstances such as:
– Access to new markets. Both the domestic market and the EU and Latin American markets.
– A favorable trend towards business and social digitalization.
– National and international talent, promoted by prestigious universities and business schools and materialized in highly specialized human resources.
– An expanded culture of entrepreneurship, which coexists with multinationals and interesting innovation models.
These features have been combined with public incentives, which include aid for innovation and an important package of tax measures aimed at making the market even more dynamic. As a result, Spain has some of the most prestigious international business schools and many outstanding centers of entrepreneurship. All this in a framework that stands out for its moderate wage costs, ability to attract foreign talent and high quality of life.
How can I establish my startup in Spain?
To establish a startup in Spain it is essential to know the entrepreneurial ecosystem, the applicable regulations and the set of incentives and aid applicable to the project.
In legal matters, the two most relevant legal areas will be Labor Law and Immigration Law. Of course, there are also other legal areas to consider, such as tax or Social Security. However, the homogeneity of national law with that of the European Union means that establishing a startup in Spain facilitates its subsequent expansion throughout the EU.
In terms of incentives and aid, it’s important to know that there is a wide range of support available from the Public Administrations. These include investment incentives, ICO financing and aid in different industrial sectors or regional levels. These implementation programs seek to establish strategic ties that allow foreign startups to integrate into the Spanish market in an easy and collaborative way.
In the field of the entrepreneurial ecosystem, it’s advisable to carry out a detailed study to know the trends of the sector. Especially taking into account the dynamism and fervent activity of startups in Spain.
At OBN& we know in detail all the relevant elements that a startup needs to master in order to establish itself successfully in our territory. We offer our contact channels so that all projects that require advice or assistance can prepare their establishment in Spain.