Spain is remarkably becoming a hotspot for innovative and futuristic startups. People’s preference for digitalization, a new tax structure, and industry incentives for tech-based businesses has further buttered up the Spanish business landscape for entrepreneurs.
Since Spain is one of the world’s most popular tourist destinations, this has influenced the local IT sector, revealing a potential to draw international talent to cities like Barcelona, Valencia, or Madrid looking for a proper work-life balance.
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The Spanish Startup Ecosystems
The Spanish startup ecosystem is growing substantially, with Madrid and Barcelona steadily rated in the Top 10 European startup hubs. Spain began creating its first digital businesses about 15 years ago, but it wasn’t until the last five years that entrepreneurship became major and startups with international ambitions were created.
Recently, the value of the Spanish startup ecosystem has increased by about 40% annually. This rise, along with the growing competition, has driven the attention of startups in Spain and entrepreneurs outside big cities, to other hubs such as Valencia, Malaga, and Bilbao.
Furthermore, as a new market, startups in Spain and the overall landscape still face obstacles, such as over-regulation in industries like transportation and finance, as well as, a shortage of senior expertise in crucial scale-up roles.
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Beyond Madrid and Barcelona
With the help of headcount data from Dealroom and Sifted, we made a list of some tech-based and fast growing startups outside big cities.
Although Spain has two major economic hubs, in this list we will be valuing startups outside Madrid and Barcelona. These startups have raised over €10m, were established in recent years, and are worthy of keeping under the radar.
Quibim is a tech-based medical startup that uses an AI-driven approach to help spot pathologies across every body part through imaging analysis to help make an early and detailed diagnosis. Quibim was founded in 2012 and since it was established in Valencia, is one of the well known startups outside Barcelona and Madrid.
Zunder, previously known as EasyCharger, is a network of charging stations that provide fast, semi-fast, and ultra-fast charging points for all types of electric vehicles. Zunder is one of the top companies in charging electric vehicles in Spain. Its app allows users to plan their journeys with a route planner.
It was founded in 2017 and has its headquarters in Palencia.
Mr Jeff is a tech-based startup that allows people to order a laundry service through their website or app. The service providers pick up the laundry from the client’s location and deliver it back within 24 hours. Mr Jeff was founded in 2015 and has its headquarters located in Valencia, a, therefore it also meets our criteria because its one of the fast growing startups outside Madrid and Barcelona.
Lookeiro provides online personal shopping services for women, this allows women to create their style profiles and links them to a personal shopper who helps them buy the right products.
Lookiero was founded in 2016 with headquarters in Bilbao.
Zeleros designs and develops hyperloop technology for more sustainable and environment-friendly transportation. The company was founded in 2016 with headquarters in Valencia.
Multiverse Computing SL
Multiverse Computing SL is a tech-based company that develops Quantum Software for corporations in the financial industry. Specifically, it addresses portfolio optimization challenges, risk analysis, and market simulation.
The company was established in 2019 and headquartered in San Sebastian, the Bacque Country, therefore is one of the well known startups outside Barcelona and Madrid.
Sesame HR provides corporations with software that digitalizes their human resources departments and allows them to optimize and centralize staff management operations. It also offers solutions related to Time Tracking, Task tracking, Shift Management, Onboarding, Employee Surveys, Overtime management, and Remote work.
Founded in 2015 in La Marina, Valencian Community.
It is a medical device start-up that creates leading-edge catheters for effective mechanical thrombectomies. Anaconda BioMed, founded in 2015, has the vision of creating a world where stroke-caused deaths and disabilities are reduced to the minimum, enhancing patients’ and their families quality of life.
Its headquarters are at SANT Quirze del Vallés and although it’s still in Catalonia, it meets our list of startups outside Barcelona.
This clinical-stage biotech startup focuses on the research, and development of new therapeutics for severe, rare genetic central nervous system (CNS) illnesses with significant unmet medical needs. The company was established in 2011, has headquarters in Mataró, Catalonia and is part of this selected list because it’s one of the fast growing startups outside Madrid.