Spanish Business & Tech Hubs: Barcelona and Madrid
Spain's startup environment has been growing steadily, with no signs of slowing down anytime soon. Investment possibilities, talent, innovation centers, coworking spaces, startups, and incentive programs contribute to Spain's thriving ecosystem.
The Tech Cities of the Future 2020/21 rating, released recently by FDI Intelligence, ranks Barcelona as the 8th most promising city for emerging firms and Madrid the 11th most promising city for emerging companies. Barcelona was ranked 5th, and Madrid was ranked 6th in 2018 lists of Europe's top 15 startup hotspots.
This city has long been a favorite of many inventors and creators looking to tap into their creativity, take in inspirational scenery, and relax by the sea. It's no surprise that there are a variety of coworking spaces to suit everyone's needs, as well as the @22 district, which is home to a number of hubs that encourage innovation and entrepreneurship and is supported by the local government.
Barcelona's startups garnered €2.7 million in funding from 2015 to 2019, nearly double Madrid's total. It is apparent, then, that Barcelona-based startups get far more attention from investors, founders, corporations, and workers; possibly the sea has a major role in making the city so appealing to sea lovers who like working and producing in a beach city.
Barcelona is an appealing location for a developing startup ecosystem because it has a fantastic mix of a mature ecosystem, an easy-to-live metropolis, technological and rising firms supported by outstanding infrastructure, and the beach.
In the last few years, the startup ecosystem in Madrid has developed significantly, with more initiatives promoting the meeting of investors, firms, institutions, and people to engage in the creation of new concepts, as well as larger investments in developing enterprises.
Madrid is close to power since the capital provides lobbying possibilities, institutional strength and serves as a decision-making center. As a result, it's easy to see why international, technical, and telecommunications firms chose Madrid as their home base. Furthermore, Madrid devotes a significant amount of financial power to the fintech industry, and many developing firms offer new services for the sector, making it appealing to fintech entrepreneurs. Madrid's developing firms raised €1.530 million between 2015 and 2019.
The combination of great coworking spaces, innovation hubs, investment opportunities, and the Arganzuela district's status as a hotbed of innovation, combined with a very livable and enjoyable city, creates an incredible recipe for attracting new businesses and innovators to develop their projects there.