Start-up surge

TECH TITAN: Miguel Arias is Telefonica’s head of entrepreneurship. Credit: south_summit/Twitter

INVESTMENT in tech start-ups in Spain grew 45 per cent in 2017 to €780 million, according to a study for the Mobile World Capital conference.

This compares to €207 million in 2013m and there are now 3,500 start-ups in the country, up a fifth from 2016.

Aspiring entrepreneurs have been encouraged by a growing number of big-ticket sales to larger companies, which have proved that people can make real money out of creating a new company.


There are also a number of businesses that have reached the “unicorn” status of being worth more than $1 billion (€880 million).

Maxi Mobility, the parent company of the taxi app Cabify, this year raised €140 million from investors.

Classified advertising app LetGo, which was started in Barcelona, also became worth more than $1 billion (€880 million) last year.

Entrepreneurs say they are attracted to Spain in part because of the high quality of life and low cost of living.


Please enter your comment!
Please enter your name here