The Startup Ecosystem of Spain
Spain has 35 cities in the top 1000 and has a vibrant startup scene that ranks 15th within the competitive global top 20.
COUNTRY RANKING
Spain’s startup scene remains stable in 2024 on the 15th position, despite losing 5 cities in the global top 1000.
Population
Million
Regional Ranking
In Western Europe
Global Ranking
Worldwide
Ecosystem
Startup Ecosystem Overview
The Spanish startup ecosystem, while younger compared to other European counterparts, offers entrepreneurs a relatively affordable cost of living and abundant sunshine to attract remote talent. With two strong ecosystems in Barcelona and Madrid, smaller cities like Valencia are also contributing to innovation and talent. Barcelona has given rise to notable companies and unicorns like Glovo, Wallbox, and Letgo, with recent additions like Factorial and TravelPerk joining the unicorn list in 2022. Madrid hosts globally influential IT companies like Telefonica and Amadeus IT Group, showcasing the strength of the ecosystem.
Despite long-term high unemployment rates in Spain, the difficulty in finding quality corporate jobs has pushed more individuals towards entrepreneurship, especially during times of crisis. Programs like the startup visa and the digital nomad visa have been launched to boost local entrepreneurship and attract foreign talent. However, challenges like red tape, high taxes, and a strong bureaucracy need to be addressed to allow startups to thrive.
The Spanish government’s Spain Entrepreneurial Nation Strategy, including the New Startup Law passed in November 2022, aims to position Spain as a hub for innovation and entrepreneurship. Support organizations like ACCIÓ and Barcelona Activa provide coaching, training, and incubation programs to help local startups succeed. Other regions in Spain, including Madrid, the Canary Islands, Valencia, and Malaga, are also actively fostering their local ecosystems through initiatives for growth and innovation.
Spain’s gaming sector has seen significant growth, and further boosted by events like MWC Barcelona, Smart City Expo World Congress, and South Summit play a vital role in promoting the ecosystem globally and bringing together entrepreneurs, investors, and industry leaders every year.
Startups
Spain Top Startup Industries
1538 startups
711 startups
539 startups
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Ecosystem HealthCheck
Spain Ecosystem Health Check
The health check tables allow you to look at the performance Spain has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
- Overperformance
- Performance equal to global ranking
- Underperformance
ECOSYSTEM
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Startup Ecosystem Charts
Startup Funding in Spain2017 - 2024
Startup Funding in Spain 2017 - 2024
From 2022 to 2023, startup funding in Spain has decreased by 46.27%. During this period, the number of deals in Spain has decreased by 23.34%. Since 2017, total startup funding in Spain exceeded US$ $24.47B.
Average Funding in 2023
$3.52M
Funding in 2023
$2.36B
Deals in 2023
670
USD
Amount of Funding (USD)
Number of Deals
Ecosystem
The Startup Ecosystem in Spain
Global Rank
Spain is ranked within the top 20 startup ecosystems globally.
Top Industries
Spain’s startup scene is best represented in Software & Data, Social & Leisure, and in Ecommerce & Retail.
Top Cities for Startups in Spain - Ranked by StartupBlink
2024 National Rank  | City | Global Rank |  | | | |
|---|---|---|---|---|---|---|
1st 0 | 38th + 2 | 21.982 | 00.00 | 00.00 | 00.00 | |
2nd 0 | 49th 0 | 15.453 | 00.00 | 00.00 | 00.00 | |
3rd 0 | 171st + 13 | 3.608 | 00.00 | 00.00 | 00.00 | |
4th 0 | 303rd - 19 | 1.275 | 00.00 | 00.00 | 00.00 | |
5th + 3 | 350th + 32 | 1.027 | 00.00 | 00.00 | 00.00 | |
6th - 1 | 354th - 22 | 1.012 | 00.00 | 00.00 | 00.00 | |
7th - 1 | 401st - 61 | 0.824 | 00.00 | 00.00 | 00.00 | |
8th + 1 | 428th - 10 | 0.698 | 00.00 | 00.00 | 00.00 | |
9th - 2 | 438th - 68 | 0.660 | 00.00 | 00.00 | 00.00 | |
10th 0 | 460th - 24 | 0.583 | 00.00 | 00.00 | 00.00 |
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