Catalonia is a country of emerging companies, research and technological innovation. Barcelona has been considered a pole of attraction for start-ups and the technological hub of southern Europe on several occasions. It is not surprising, therefore, that when talking about state data, the Catalan territory stands out, especially in deep tech. In a recent report prepared by Mobile World Capital Barcelona and SEDIA, Catalonia holds the first position in the ranking of spin-offs (emerging companies arising from a pre-existing company or entity, in many cases universities or research centers) in all of Spain. The study identifies 1,014 of these active companies in Spain, and Catalonia accounts for 28.6% of them, followed by the Community of Madrid with 20.2%. La Rioja remains the territory with the fewest spin-offs, with 0.1%. Once again, therefore, the country leads the Spanish technological transformation and reaffirms its position as a key player in the world of start-ups.
"Knowledge transfer is a lever in the growth of the technological ecosystem," explained Albert Mascarell, director of Tech Transfer at Mobile World Capital, during the presentation of the report. In this regard, Mascarell wanted to recall that there is a clear need to convert high-value research from universities and research centers into solvent companies. To add, Laia Corbella, CEO of the entity, specified that it is "the only one that analyzes such a niche market," but confirmed that "it is very strategic for Catalonia." In fact, the figures collected in the study prove the executive right: in Spain, deep tech spin-offs generate around 11,500 jobs, nearly 1,132 million euros in turnover, and up to 1,340 million euros in intangible assets, i.e., patents, trademarks, software, or proprietary algorithms, among others. In Catalonia, it is specified that there are 236 spin-offs that employ 2,855 workers. A sector, therefore, that although still growing, has already increased by 4.6% in the last year, going from 969 companies to 1,014 nationwide. In addition, 40% are newly created, founded in the last five years.
The sector that has generated the most spin-offs is health, biotechnology, and medical innovation, which accounts for 42.3% of this type of company. It is followed, with 31.7%, by chips, computing, and AI (31.7%). These two specializations—according to the report's data—represent three out of four companies in Spain. Mascarell has also predicted a forthcoming increase in spin-offs related to artificial intelligence, as he believes that "there is a challenge with AI" in the current context. Further behind are materials, manufacturing, and advanced industry (9.3% of the total), followed by energy, climate, and resources (8.8%), robotics and autonomous systems (4.3%), and space, connectivity, and security (3.7%). Regarding the spaces where these companies have been nurtured, a strong leadership of universities can still be seen, which account for 65.4% of the foundations. Research centers contribute 18.2%, followed by health research institutes and technology centers. In addition, there are about a hundred companies that arise from collaboration between entities, which is perceived in the report as a desire for growth on the part of the ecosystem.
The sector that has generated the most spin-offs is health, biotechnology, and medical innovation
The importance of public funding
The spin-offs are not traditional start-ups. Firstly, they often emerge from scientific research and investigation by existing entities. In addition, however, they have much longer timelines than start-ups as they are known. A newly created start-up can see results in two or three years. When talking about spin-offs and with more emphasis, about deep tech, these timelines can extend to 8 or 9 years. For this reason, very costly investments are needed in the first rounds of financing at a very high risk, since the return is prolonged. According to the study, these risks are taken more frequently by the public administration. It can be seen in the figures presented that 45% of the companies have obtained public money as their primary source of resources. 35% have resorted to private capital and 10% have combined both types of financing. In the remaining 10%, "it has not been possible to determine their origin," they pointed out. Fernando Escobar, deputy general director of citizenship, talent, and digital entrepreneurship at SEDIA, celebrated the figures and reaffirmed that "public capital comes first; when there is no product, no market, and no one willing to take risks."
45% of companies have obtained public money as their primary source of resources
Escobar also recalled that the administration "is working" to maintain these money injections into start-ups and mentioned the approval of the Deep Tech Spain Strategy on May 19, as an initiative of the Ministry of Science, Innovation and Universities and the Ministry of Digital Transformation. The project plans to mobilize more than 8,000 million euros until 2030 to convert Spain's scientific capabilities into technological leadership. In addition, the deputy general director of citizenship, talent, and digital entrepreneurship at SEDIA acknowledged that "a scale-ups law is being prepared," in order to provide support beyond the creation phase, "also in the growth phase," he said.
An opportunity for Barcelona
The high percentage of spin-offs that originate in Catalonia places Barcelona in a good position to grow in innovation and technology, but also gives it the opportunity to be leaders in sustainability, ethics and sovereignty. Lorenzo di Pietro, general director of Barcelona Activa, has remarked that the Catalan capital already has "the basis to be a benchmark": "We have a talent and capacity to attract investment that few cities in Europe have". In this context, he recalled that from the Barcelona City Council, through Barcelona Activa, they have the Barcelona Deep Tech Fund, endowed with 10 million euros. It does not directly invest in deep tech start-ups, but in private venture capital entities (national or international) that, in turn, finance these newly created emerging companies in Barcelona, such as spin-offs arising from universities and research centers.