Madrid has consolidated investment in startups in recent years, occupying the first national position since 2021, according to the report published by El Referente. This ecosystem also stands out for its growth and international attractiveness for businesses.
The recent report on the Community of Madrid included in the National Report on Tech and Innovative Companies for 2024 presented by Ecosistema Startup, reveals a robust landscape, on a clear upward trajectory and a leader in a wide range of indicators.
Investment in Madrid has been a key pillar of its entrepreneurial ecosystem. In the last four years, total cumulative investment reached €4,338 million, with a notable peak in 2021 of €2,349 million across 130 deals. That year saw notable mega-rounds such as Jobandtalent (€628 million), Idealista (€425 million) and Capchase (€236 million), initiating the consolidation of Madrid as the epicentre of startup investment, which also saw, in line with the global trend, a significant drop in investment in 2023, to €670 million.
The report highlights that Madrid's technology ecosystem is on a clear upward trajectory in terms of business creation, innovation and entrepreneurship, with the leading national network of investors, accelerators and entrepreneurship support programmes. And it also stands out in international rankings for aspects such as business friendliness, strength of its business structure, infrastructure and connectivity, political stability, specific regulation, international connections and access to talent.
The notable growth in the creation of innovative companies since 2020 allows reaching 1,677 companies in 2024 (868 startups, 322 scaleups and 487 technological SMEs) that generate, according to the methodology of the report, more than 30,000 jobs and a turnover of 3,035 million euros, driven by key sectors such as fintech, eHealth, edtech, energy and foodtech.
Specifically, the fintech sector has 129 companies, generating 3,655 jobs and a turnover of 238 million euros. The eHealth sector, with 101 companies, generates 2,195 jobs and 95 million euros in turnover. Energy and foodtech are also prominent sectors, contributing significantly to the regional economy.
In addition to the city of Madrid, the region is characterised by a significant number of innovation hubs such as Las Rozas, Pozuelo de Alarcón and Alcobendas. The city of Madrid, with 1,225 technology companies that have created a wealth of 2,338 million euros, is the main investment hub. It is closely followed by Las Rozas de Madrid, with 72 companies generating 1,055 jobs and a turnover of 152.5 million euros.
However, the National Report on Tech and Innovative Companies highlights that the gender gap remains a significant challenge in Madrid's entrepreneurial ecosystem. Only 16% of founders in Madrid are women, highlighting the need for policies and programmes that encourage greater female participation.
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