Spanish DeepTech spin-offs: 1,210 companies, €2 billion turnover and huge potential

In today's world, innovation is a key driver of economic growth and competitiveness. Spain, realizing this, is actively developing an ecosystem of deep tech spin-offs - companies born out of research and development.

A new study sheds light on the impressive results of this strategy 🔻

Key aspects of the development of spin-offs in Spain:

• Scale: 1,210 companies, 12,200 highly qualified professionals, €2 billion annual turnover.

• Geography: Concentration in Catalonia (29%) and Madrid (26%), but impact across Spain.

• Economic impact: Average turnover of €1.67 million per company. Companies with 51-200 employees have a turnover of more than €15m.

• Technologies: Biotechnology (18%), digital health and telemedicine (16%), IoT, edge computing, 5G and sensors (15%).

• Sectors: Healthcare (35.5%), ICT (16.9%), Industry 4.0 (12.4%), Energy & Sustainability (12.4%), Agriculture (6.4%).

  
  

The main benefits of spin-offs:

• Highly skilled jobs: Average employment is 2 times higher than in Spanish SMEs.

• Competitive advantages: Patented technologies, 18% turnover growth in the last 3 years.

• Fighting brain drain: Spin-offs help retain talent in Spain.

Recommendations for ecosystem development:

• Increasing early stage financing

• Expansion of tax incentives

• Harmonization of legal and regulatory frameworks

• Public-private cooperation

• Strengthening knowledge transfer offices

• Expansion of acceleration and support programs

Source: elreferente.es

Conclusion:

Deep tech spin-offs play an important role in the Spanish economy. They create jobs, stimulate innovation and contribute to the development of key sectors. To further grow the ecosystem, it is necessary to strengthen government support and create favorable conditions for investment.

Link to original article: El Referente newspaper