Post on 16-Aug-2015
The evolution of Spain´s Startup Ecosystem
Liz FlemingSpain Startup
www.southsummit.co
Capital
• Enisa €113m, Junta de Andalucia €40m
• EIF BAF €30m• FundICO €1bn• VC up 40% last year €270m
(Ascri) - €320m (Venture.Watch)
• 50% international VC• €109m already invested in
2015
• Larger rounds; Job & Talent (€10m), PeerTransfer (€17m), Digital Origins (€15m), BQ (€15m) CartoDB (€8m), Fever (€6m)
• Crowd funding; El Español (€3.6m)
• Media4EquityAreas for improvement:• Risk adverse• Value add• Series B/C• X8 smaller UK, x4 smaller
France
Source: ASCRI, Web Capital Riesgo
Total investment per segment in Spain (in MM €)
2012 2013 20140
50
100
150
200
250
300
7889
205
81 54
37
33
33
29
Life Sciences
Manufacturing
Digital + HiTech
+40%
Source: Venture Watch
Source: Venture Watch
Source: Venture Watch
Source: ASCRI
International VCs
Source: Gil Dibner, yankeesabralimey.tumblr.com
Talent
• IE Business School, IESE, Esade
• UPM, UC3M, UPC, Fabra Pompea
• R&D• Telefonica, Ferriovial
• Earlier exposure to entrepreneurship
• Cutting edge methodologies & technologies
Government
• Ley de emprendedores• Stock options• Capital gains tax• Exit tax• Hiring/Firing• Procurement• Elections
• Crowd funding• Business Angels• SME/Freelancers
Culture
Culture
Culture
Culture
Culture
Culture
Culture
Corporates
• Telefonica; Amerigo, Wayra, Open Future
• BBVA; Open Talent, €100m Fund
• Santander Innovation Fund
• Iberdrola• Amadeus
• Procurement• M&A• Internationalisation
Exits
• IPO; MAB• M&A
• Arsys - €140m 2013• Endosense - €250m 2013• Milanuncios - €100m 2014• Social Point - €100m 2014 (mc)• Trovit - €80m 2015• Nevera Roja - €80m 2015• Tienda Animal - €80m 2015 (mc)
• Infojobs - €517m 2006• eDreams - €150m 2006• Tuenti - €70m 2010• BuyVIP - €70m 2010• Privalia – est. €300m 2010 (mc)• Softtonic - €275m 2013 (mc)
The Opportunity
To do
• Stock options• Continue capital injection• Highlight role models• Exit options• Spain Startup Manifesto -
www.spainstartupmanifesto.com
thank you!
@ldflemingliz@spain-startup.com