“From Risk-Takers To Change-Makers”. Spain leads Europe in Entrepreneurship and Innovation.
The recent Start-Up Law marked a big step for Spanish business development. As of January 2023 this innovative piece of legislation enhanced Spain’s attractiveness for start-ups, founders and investors.
The new regulatory framework aims to reduce red tape and brings corporate and tax benefits. It underlines their unique status and risks: business model, potential for growth, need for high skills workers locally and abroad.
The Law for the Promotion of the Start-Up Ecosystem is conceived under the framework of the Spain Entrepreneurial Nation strategy. Spain attracts entrepreneurs from around the world. It has been recognized as an inducive partner in entrepreneurship, innovation and business creation.
The figures underline this statement. In 2023 the Spanish tech ecosystem is worth around €93B, 3.6 times higher than in 2018. €4B of venture capital was raised in 2022, Spain’s second highest annual total. And currently Spain ranks 6th in Europe and 16th globally for total investment raised in 2022. That same year Spain invested a record breaking €5.5B in start-ups. The country showed stronger resilience than European peers in 2022, with Venture Capital Investment dropping only 11% from 2021 under post pandemic conditions. Early-stage investment reached a record high of €1.9B.
#StartupDay 2023 was organized by @Esadealumni and @BancoSabadell on November 7. A broad spectrum of participants made a deep dive into the world of tech driven innovation, incubators and entrepreneurial development. An event where learning, dynamic networking and enjoyment of curiosity came together.
The morning began with a traditional manufacturer winning the @Esadealumni and @BancoSabadell BStartup Award. Dogfie Diet a young company with an international outlook, short term exponential growth and consolidation as a benchmark in its sector. They made the “pioneer, develop, scale up” motto come true.
The legal, financial and tax needs of disruptive technological companies and startups were addressed in a session moderated by Simón Pérez, CFO at Delvy Law & Finance.
What followed were presentations on current issues and elevator pitches of startups supported by the Esade BAN network. Entrepreneurs, collaborators and start-ups such as @playtomic, @oliver_agency, @deporvillage, @endlessport, @heurafoods, @ganasdevicio and @flaxandkale shared their insights. As did start-ups like: @joinhelloapp, @theresidentiaclub, @wefeelgame, @aprilplants.es, @robingoodoficial, @pummba_es and Love TV Channels.
The evening session ‘Take a spin: An encounter with Ferran Adrià, elBullifoundation and Prodigioso Volcán’ took place introducing a new method to generate innovative ideas and transformative projects for companies and institutions in any sector. For a startup to succeed, there are generally some core components making up that success: a strong product, a well-researched go-to-market strategy, a strong organizational, digitalization and sustainability culture.
In conclusion some remarks on the legal elements of what makes tech start-ups successful. This last decade has brought technological innovation at a pace never seen before. Many young businesses are spearheading this innovation. They are ready to scale up to reach the next level. This presents new and fast-evolving legal challenges that do not always fit the existing legal framework. Sometimes they give rise to new implications for the existing legal context.
It is obvious that disruptive start-ups need a clear and convincing business strategy. However, they also profit from a robust and flexible legal and financial structure in order to adapt to the many challenges on the road ahead. Tailored legal support can provide clients with cost effective solutions to the specific needs in the lifecycle of a start-up. This in order for innovators to focus on growing their startup without worrying about navigating complex regulations. Thus, the Change-Makers can at least mitigate some of the Risks they take.