Spain’s startup scene sees 38% surge
Spain is solidifying its position as one of Europe’s most vibrant startup ecosystems. According to the 2025 National Tech Companies Report by Ecosistema Startup, the country now has 8,580 active tech companies, a 22% increase from the previous year. Of these, 5,010 are startups, representing a sharp 38% year-on-year growth.
This surge translates into over 108,000 direct jobs and an annual economic impact of €14.8 billion, placing Spain firmly on the radar of global investors and corporates betting on European innovation.
The most striking leap has been in investment, which soared to €2.92 billion in 2024, up from €1.82 billion in 2023. This 60% increase reflects not only growing confidence in the Spanish market but also the consolidation of later-stage ventures. The rise of venture debt – now accounting for 19.59% of total funding – and six funding rounds exceeding €100 million signal a new chapter for the country's innovation economy.
Madrid and Catalonia: Europe-facing innovation hubs
Geographically, Madrid has surpassed Barcelona for the first time in number of startups (937 vs 911) and overall tech companies (1,560 vs 1,553), emerging as Spain’s most dynamic startup city. However, Catalonia remains the leading autonomous region with 2,351 tech firms, followed by Madrid (2,189), the Valencian Community (966), and the Basque Country (831). The growth is also becoming more regionally distributed across the country.
Health, biotech, and edtech lead in company volume, while fintech (€767 million), mobility (€507 million), and traveltech (€456 million) dominate investment, reflecting the ecosystem’s strength and diversity across strategic European sectors.
A European engine with structural challenges
While Spain continues to gain ground as a key European tech hub, the report also highlights ongoing challenges: a lack of local growth-stage funds, a shortage of institutional investors such as insurers and corporates, and limited exits to recycle capital and fuel new rounds.
As the Ecosistema Startup team notes: “Spain has proven its ability to scale globally ambitious startups. Investment is growing, talent is diversifying, and the ecosystem is maturing – but we need to reinforce the financial mechanisms that sustain long-term growth.”
The report is based on data from over 15,000 companies, with information verified quarterly through Spain’s Mercantile Registry via a partnership with INFORMA. It has been supported by institutions including ENISA, ICEX, Santalucía, Xunta de Galicia, INFO Murcia, CEIN Navarra, Grupo SPRI, CEEI Valencia, and Fundación madri+d.
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