Barcelona's Weekly Tech Update

By Scott From Barcinno • Issue #544

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Barcinno Media
November 03, 2024

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Hi all,

Entrepreneurship Map 2024: Catalonia insights 🔎

A quick look into the Catalonia-based stats from the new South Summit report, Entrepreneurship Map 2024: Interesting findings overall that show the ecosystem’s strengths and where progress is needed:

📈 Catalonia leads in scaling companies, with 23% of startups now in scaleup stages—slightly ahead of the national average by 3%. 

👩‍💻 Job creation also stands out, with 62% of Catalan startups planning to grow their teams. Maturity-wise, only 19% have been operating for 5+ years (4% less than the Spanish average) with most operating between 2 and 4 years (53%).

💰 On profitability: Mixed. While 17% report positive EBITDA, 25% expect to reach profitability within a year. Innovation is also a solid strength: 33% of Catalan startups leverage AI and 25% have registered patents, both above Spain’s norm.

⚖️ Consistency seems to define: 60% are serial entrepreneurs, and Catalonia leads in successful exits, with 47% having previously sold a company. Yet (wait for it), the region maintains an 80/20 ratio for male and female founders, a figure that has not changed in over a decade.

Salvador Aragón, CIO of IE Business School, comments: “[The Catalan ecosystem’s] areas of improvement lie in generating a greater diversity of startups that allow us to overcome the growth limitations of the current model and incorporate women into the entrepreneurial ecosystem”. Agree.

Have a good week and wishing the best to those in Valencia & affected areas 🙏 

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