Real Madrid shortens the distances with Barcelona in the race for mature ‘startups’
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In the Catalan ecosystem, there are more companies that have raised at least a million dollars in venture capital, but the city is starting to lose weight in favor of Madrid
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Despite this, Barcelona is the fifth European city with the highest number of “expansions” and is five places ahead of the Spanish capital.
Barcelona It is, another year, the Spanish city with the largest number ofrange ups“(“Startups“already mature) and more funding for them. According to the latest update from the US innovation consulting firm bridge blocker, which are defined as “expansions” of those companies that have already raised more than $1 million in funding, Catalan capital focuses on 306 of these companies. Among them, they closed investment rounds with a total value of 6,700 million dollars (6,200 million euros). however, Madrid Mature startups operating in the Spanish capital come close to matching these numbers: last year, they took home more than $400 million from Catalan companies, the first time the Madrid system has surpassed the Barcelona ecosystem.
Indeed, if before the pandemic Barcelona had collected 47% of Spanish “expansions” and six out of every ten euros raised by this type of company, then 300 companies in the Catalan ecosystem now represent 44% of the total and $6,700 million, half received the size. On the other hand, Madrid increased its weight by two points (now focusing 34% of mature Spanish startups) and its ability to attract funds ranged from 31% to 39%: Madridist companies playing in this league have so far acquired $5,100 million (4 700 million euros).
Much of the explanation lies in the fact that Madrid managed to overtake Barcelona in 2021 in terms of money raised, a milestone explained by the fact that big operations were bigger there.
Big Tours
“The excellent performance of the two major Spanish ecosystems in 2021 is closely linked to many large agreements, analyzes the report presented by Mind The Bridge on Monday.
The Chancellor recalls, on the part of Madrid, jobandtalentAnd the idealAnd the Defoe s concaveWhich last year received between the first 650 million euros and the last 180 million in several rounds of financing. In Barcelona, the signal was GlovoAnd the and the popAnd the Travelberg s UserZoom, which took in between 600 million euros and a little over 90 million also in various operations. Without taking these atypical aberrations into account, Barcelona still fares better than Madrid; add those responsible for the study.
Thus, according to this analysis, the Madrid ecosystem is still 20% smaller than the Catalan one, which is actually five places lower in the European ranking. Barcelona is fifth behind United kingdomAnd the ParisAnd the Berlin s Stockholm– Madrid is ten after AmsterdamAnd the CopenhagenAnd the Helsinki s Munich.
Barcelona’s superiority
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“The reasons that explain Barcelona’s superiority are still under investigation. On the one hand, several sources point to quality of life, access to talent and support from the local government” they explain from Mind the Bridge. “On the other hand, the vast majority of major Spanish companies are headquartered in Madrid, indicating that the city is not taking full advantage of the spillover effect from corporate venture capital activity,” concludes the consultancy.
However, the organization highlights that both ecosystems together leave Spain in an increasingly better position in European competition. The company’s director and CEO concluded that “the key is to continue investing and maintain a commitment to unlocking innovation and delivering results, which is what ultimately matters”, Alberto Onetti s Marco Martinucciwhen viewing the report.
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