Barcelona another year, it is the Spanish city with the highest number of ‘growths’ (‘startup’ is already mature) and the largest volume of funding for them. According to the latest update from the American innovation consultancy Attention to the BridgeCatalan capital, which defines companies that currently raise more than one million dollars in financing as ‘scaling up’, concentrates 306 of these companies. Among them, they closed investment rounds worth a total of 6,700 million dollars (6,200 million euros). Again, Madrid approaching these numbers to equal: Without going any further, mature start-ups operating in the Spanish capital raised $400 million more than Catalans last year, for the first time the Madrid ecosystem surpassed Barcelona.
In fact, if before the pandemic Barcelona had accumulated 47% of Spanish ‘growths’ and six out of every ten euros raised by such companies, 300 companies in the Catalan ecosystem now account for 44% of the total. $6,700 million, half the volume received. On the other hand, Madrid is gaining weight by two points (currently collecting 34% of mature Spanish start-ups) and its withdrawal ability goes from 31% to 39%: Madrid playing in this league has taken over firms. $5,100 million (4,700 million euro) so far.
Most of the description is Madrid managed to surpass Barcelona in terms of money raised in 2021a milestone explained by the larger operations being larger there.
“The excellent performance of Spain’s two main ecosystems in 2021 was significantly correlated with several major deals,” the report presented this Monday by Mind The Bridge.
On the Madrid side, the consultant says: job and talent, idealist, dev Y trophyLast year, the first received €650 million and the last €180 million in several funding rounds. In Barcelona the reference was: glovo, wallapop, TravelPerk Y UserZoomWith 600 million euros, it received just over 90 million in various operations. “Without taking these atypical deviations into account, Barcelona still behaves better than Madrid,” add those responsible for the study.
So, according to this analysis, the Madrid ecosystem is still 20% smaller than the Catalan ecosystem and is actually five places below the European ranking. Barcelona fifth – United Kingdom, Paris, Berlin Y Stockholm– and after that Madrid, the tenth amsterdam, Copenhagen, Helsinki Y Munich.
“The reasons explaining Barcelona’s supremacy are still being explored, while various sources refer to quality of life, access to talent and support from local government,” they say from Mind the Bridge. “On the other hand, the fact that the vast majority of large Spanish companies are headquartered in Madrid indicates that the city has not fully benefited from the indirect impact triggered by corporate venture capital activity,” the consultancy added.
However, the organization underlines that both ecosystems together put Spain in an increasingly better position in European competition. “The key is to continue investing, maintaining a commitment to open innovation, and ultimately producing results that count,” the company’s director and CEO concluded. Albert Ontti Y marco martinucciat the presentation of the report.