The Spanish scaleup ecosystem is the result of ten years of sustained growth.
The very visible Government’s effort to create a healthy, growing and self-sustainable startup ecosystem, seems to be paying off. While in our methodology we tend to shy away from the logic behind the solo counting of Unicorns (whose market evaluation is often very volatile), and we rather base our ranking in the amount of funds raised and other variables, South Korea seems to hit on all cylinders lately: a growth in funding, exits and, yes, also the always resounding, number of “Unicorns”.
Our data show that Spain (as most of the Southern and Eastern countries) suffers a chronic situation of relative undercapitalization compared to the other European regions. Unfortunately, there is only medicine to treat such disease: pour more capital. Move the investment bar from hundreds of millions to billions.
If we look at the numbers of the European startup ecosystem we, finally, spotted a sustained growth pattern. The efforts put in place in the last few years to support the startup ecosystems in Europe seem to finally pay off. The number of European scaleups have been growing consistently by 20% year after year on an average (+13% in 2018). This means Europe added about 1,400 new scaleups in 2018.