The Startup Radar madri+d 2024 ecosystem report reveals the latest data on technology companies in the Madrid Region, following the recent publication of the report on startup investment in 2023 and the latest report on open innovation in the Madrid Region, all of which are available on the Startup Radar madri+d platform.
The number of high-growth startups with scientific-technological content is on the rise
The high concentration of research organisations that have promoted spinoff creation policies in recent years explains the fourth European position of the Region of Madrid in the number of science-based or deeptech companies, the fifth in the number of research centre spinoffs and the eleventh in the number of startups with patents, as well as the first national position in these three indicators. Also at national level, the Region of Madrid leads in the creation of high-growth knowledge-intensive companies that also stand out in other hubs of its metropolitan area such as Alcobendas or Las Rozas.
In terms of investment opportunities in young start-ups, the region ranks first nationally and sixth at European level in the number of high-growth start-ups and remains in sixth and seventh place in Europe for the cumulative number of exits and investment rounds, respectively.
A region that is particularly attractive for technology companies from other countries.
In 2023, the number of offices opened by startups from other countries in the Region of Madrid (140) was the second highest in Europe after London. According to the rankings analysed by Invest in Madrid, the advantages for attracting international talent include its specific regulations for entrepreneurs and investors, its infrastructure and business fabric, and its political and economic stability. In this regard, it is also worth mentioning that it ranks sixth in Europe in terms of business friendliness and tenth for its global economic potential, always occupying the first position at the national level.
Access to talent for international startups is more favourable in places that offer a higher concentration of technology jobs, universities, business schools and a higher level of innovative activity. Madrid ranks third in Europe in engineering talent and fifth in number of developers (e.g. third in app developers and fourth in the areas of AI or data science).
A detailed analysis of investment rounds, sectors, founders and job creation.
Another new feature of this year's report is a summary of the sectors with the highest percentage of companies obtaining investment, such as semiconductors, health, energy, robotics, fintech and transport and mobility, as well as an analysis of the investment obtained in each of them, by type of round (early, mid and late stages).
In terms of employment, there are around 52,000 employees in Madrid's technology companies, 67% of which are concentrated in companies between 3 and 12 years old. In terms of total employment, the education, fintech, enterprise software, transport/mobility, health and marketing sectors stand out. And after the high growth in recent years in sectors such as health and education, in 2023 more startups will be created in the business software, marketing and transport sectors.
A high percentage of startup founders have between 6 and 12 years of prior experience at the time of setting up the company and have studied at universities, which are also shown in the report. In terms of technologies used by startups, artificial intelligence moves up several positions in 2023, ahead of mobile technologies, big data and machine learning.
Startup Radar madri+d, all the information about Madrid's startup ecosystem.
In Startup Radar madri+d you can also search for startups founded since 2016, search for entities, consult the Dealroom-based platform or download sectoral reports. It also offers other tools for startups such as its search engine for public financial instruments, its Matching Tool for filtering international investor profiles or its Job Board for job searches in startups in the Madrid Region.
With the publication of the 2023 ecosystem report, the Community of Madrid, through the Fundación para el Conocimiento madri+d, consolidates Startup Radar's role as a fundamental resource for understanding and boosting the region's innovative entrepreneurship ecosystem.
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