Mapping Spain's Tech Sector
A Network Analysis of the Entrepreneurship Community.Download the report
About the Research
The entrepreneurial tech sector in Spain is an engine for economic recovery. Following the 2008/09 Financial Crisis, the number of new tech companies more than doubled. Today, Spain’s tech companies are securing substantial funding rounds and achieving unicorn status. COVID-19 jolted the economy, but entrepreneurs responded once again and new companies launched since 2020 have scaled rapidly.
The purpose of the study is to provide insights on the sector’s current state, based on its last 10 years, evaluate its strengths and weaknesses, and enable decision-makers to better understand and support local tech entrepreneurship. This Research Project has been led by Endeavor Insight in partnership with Endeavor Spain, with the support from Google for Startups, and in collaboration with SpainCap and Adigital.
The findings are based on more than 100 interviews with tech entrepreneurs conducted from December 2021 to February 2022, and data on more than 715 companies and their founders. In addition, data was collected on more than 450 support organizations and investors that support the local tech community.
The entrepreneurial tech sector in Spain is an engine for economic recovery.
Spain must do more to become a more inclusive and globally competitive home for entrepreneurship.
When successful founders provide support to other founders, the ecosystem thrives.
Interregional connectivity is important for the development of the ecosystem.
In the last 10 years, Spanish entrepreneurs have proven, not once, but twice that they are engines of economic growth. Startups support the Spanish economy by creating quality jobs and new opportunities, bringing innovation, and solving the big problems that Spanish society is facing. They did it during the recessionary period, they have done it during a health and economic pandemic, and I am sure they will overcome any challenge ahead.
Sofia Benjumea, Head of Google for Startups, EMEA
Spain Network Maps
Endeavor Insight used social network analysis to visualize the Spain tech sector. This methodology helps trace the flow of people, capital, and information among entrepreneurs, their co-founders, employees, mentors, investors, and other stakeholders.
Each bubble on the maps represents either an entrepreneurial company or other type of organization providing resources. The position of the bubble corresponds to the year that it was founded, with older companies on the inner rings and younger companies on the outer rings.
A number of local and international organizations are providing services and mentorship to Spain’s tech sector. These include accelerators, incubators, public initiatives, and other networks.
Companies with at least one female founder are an important part of the local ecosystem. This map shows which organizations are providing resources to companies with women founders.
Founder-to-founder connectivity is important to the growth of the local ecosystem. The largest bubbles on the map show companies with the most influential founders who have reinvested in the local network.