Spain’s entrepreneurship ecosystem is increasingly boosted, according to South Summit and IE
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The Spanish entrepreneurship ecosystem is boosting its maturity, according to South Summit Entrepreneurship Map 2021 Presented this Tuesday at IE University. Spanish start-ups 2.7 years of life, Which shows more mature projects compared to previous years (2.2 years average age in 2019 and 2.5 years in 2020). Despite this, the average age of Spanish projects is still lower than that of European projects 2.87 years On average, much less startups from Latin America that score themselves 3.23 years from Life as an average.
Austin Distille via Unsplash
Data extracted from this eighth edition of the report “ Entrepreneurship Map 2021′ by Startup Summit in Southern Spain confirms that the European country has a very stable proportion of serial entrepreneurs (60%), who provide significant professional strength to the startup company, and new stratopyrus (40%), It is characterized by its criteria for identifying market opportunities. 35% of entrepreneurs claim to have sold at least one startup and about 6 out of 10 say at least one of their previous projects failed. Either way, the probability of failure It decreases with experience and learning.
Although the entrepreneurial ecosystem is getting stronger day by day in Spain, it still has a stretch A pending case to increase the presence of feminine talent among its ranks. An imbalance in the ecosystem due to the greater presence of Men compared to women (80% vs. 20%) It is a fact that extends across geography and all industrial sectors.
In this version of the report, the presence of women has increased in sectors such as e-commerce, tourism, agrotechnology, and energy, at the expense of already other classics such as Fintech, where the presence of women entrepreneurs has been reduced.
The entrepreneurship ecosystem has been enhanced on a global level with very homogeneous characteristics between different countries. There is a growing commitment to artificial intelligence as a driver of opportunity and great potential for improving the Internet of Things. In addition, we share the global challenge of integrating women into the entrepreneurship ecosystem, says Salvador Aragon , professor of innovation in IE University.
regarding Robot portrait of a Spanish businessman , has remained stable in recent years: man (80%), With an average lifespan of 25 and 34 Years and undergraduate studies (98%) .
In this eighth edition of the map, it is confirmed that Training “places” within the entrepreneurship ecosystem: Spanish entrepreneurs continue the trend of having High qualification: 16% hold a Ph.D., Maximum professional training. This profile is committed to creating innovative startups in key sectors, such as: Health, agriculture, digital, energy or transportation Thanks to the application of leading technologies such as Artificial Intelligence (AI) And machine learning .
Where does the motivation to do come from?
45% Entrepreneurs assert that I’ve always wanted to do this “As for the 28% The option was granted because “hmm Found an opportunity in the market “.
Historical maximum for special funds
If we talk about funding sources, 62% of Spanish startups have their own money As their first economic resource, an alternative that scores a historical maximum compared to family, friends, and fools (19%), private funds (15%) or public funds (5%). In any case, not only are startups seeking more funding (19%) or greater visibility (18%), but they are also claiming to be getting better. tax collection as a priority need.
The bulk of Spanish startups have already launched own product (62%) It generates traction force. In addition, the maturity of the ecosystem is also measured by the ability to create jobs: 74% of Spanish enterprises already have between 2 and 10 employees, while 17% have between 10 and 50 professionals on their team. In terms of income level, in Spain 12.2% of start-ups have EBITDA positive The predictions are very good considering that another 37% are confident they will be achieved in one year.
In addition, more and more Spanish startups can be widely considered , i.e. a project in its most advanced stage and has already progressed in implementing its business model, which has boosted its growth in both revenue and employees. If we focus on what their status is: 24% of Expand Already billed over 1 million euros and 60% have more than 10 employees, their preferred sector is education and artificial intelligence, the most popular tool they work with.
another year financial technology It still occupies a position as the “Queen” industry in the entrepreneurship ecosystem, but your wages And E-Commerce It came into effect in 2021, as both sectors were severely affected by the trends that emerged as a result of the pandemic. Regarding the business model, Subscription It continues to grow as a favorite among Spanish startups.