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Starting up in Spain: The Roadshow 2015
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#Deals Completed
2012 65
2014 65
2013
Background
24
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# Co Working Spaces
146
2012 2014 2013
Background
231
338
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# Accelerators
98
2012 2014 2013
Background
147
338
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# Crowd Funded Companies
146
2012 2014 2013
Background
552
1746
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# Government Initiatives
2
2012 2014 2013
Background
5
8
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# Investors
210
2012 2014 2013
Background
367 604
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# Venture Capital Investors
210
2012 2014 2013
Background
377 377
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# GDP in Ratio to Tech Hubs (EU)
Background
#2
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Qualitative Feedback
- Local government has good initiatives for entrepreneurs but these are often not well communicated – there’s lack of awareness. - Lack of women entrepreneurs - about 20% only. - Time barrier to starting a business is improving – for creating and testing a product and benefitting from the feedback loop.
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Qualitative Feedback
- More startups fail due to problems between partners, than ecosystem issues such as bureaucracy. - Not knowing Spanish is a clear barrier for foreigners in regard to starting up in Spain. - Spanish entrepreneurs may believe they have a higher level of English than they really do.
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Qualitative Feedback
- Most startups fail and the entrepreneurs after their 1st failed venture return to the corporate world. - Investors want to see team profiles of people who’ve gained significant private sector work experience. They focus more on the people than the idea. They do not value the past entrepreneurial experience as much as in other markets. - The ecosystem encourages less merit based startup teams, and more relationship based projects.
Qualitative Feedback
- The struggle of egos and ‘language’ difference (i.e. disparity of understanding and priorities) between business entrepreneurs and technical co-founders is usually one of the main problems of a startup in Spain. - Lack of experience - the entities that do help the start-ups, often don’t follow up in the long term after the initial support - thereby creating ‘hollow’ life for startups rather than vigorous assessments and feedback.
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Starting up in Spain: The Survey 2015
The Overview
7 team members
5 roadshow events
412
surveys
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Starting up in Spain: The Survey 2015
What is good?
5
largest EU economy
th 50
cost of living of UK
% 109 investment
Q1:2015
m
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Starting up in Spain: The Survey 2015
What is not good?
22
speak English
% Funding gap
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N.B. Although only 22% speak English across the country, in clusters like Madrid and Barcelona this percentage is significantly higher.
Starting up in Spain: The Survey 2015
The Entrepreneur
47
studied business
% 51
quick flip
% try again
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Starting up in Spain: The Survey 2015
The Start up
83
International
% 67 SaaS
% 24
advertising & media
%
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Starting up in Spain: The Survey 2015
The Culture
64
hard to find capital
% 59
barriers to entry
% 42 failure
%
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Starting up in Spain: The Survey 2015
The Capital
6.2
101 startups
m 8
international
% 9
highest global investment
th
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Starting up in Spain: The Survey 2015
The Ecosystem
50 youth
unemployment
% 107
% mobile
penetration 316
accelerators
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Thanks
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