Valencia and its startups drive the Spanish innovative ecosystem
Spain
Valencia
MEMBERS:
Valencia Innovation Capital
"We are thinking big and we aim for Valencia to stand out as an avant-garde city, the most important innovation hub in the Mediterranean, where investors bring in capital and outstanding startups are born."
Highlights
Valencia's thriving ecosystem, supported by talent, government initiatives, and connectivity, positions it as a global startup hub. Seamless access to capital and support services, along with over 100 investors including Draper B1, GoHub Ventures, Angels, BIGBAN Inversores Privados and Zubi Capital fuels its dynamism, complemented by financial instruments from the Valencian Institute of Finance. Major funding rounds for Valencia-based startups include a $14.8 million June 2023 round from Fintech Bit2Me, a $3.2 million January 2024 round from cloud storage service Internxt, and Web3 startup Depasify’s $2.3 million January 2024 round. The funding vibrancy continued with a $3.2 million round from software startup Imperia.
In 2023, Spain introduced the Startup Law to establish a supportive regulatory framework for nascent enterprises. This legislation encompasses reductions in corporate tax rates, relief from tax debts during the initial two years, and tax incentives including a 25% credit for research and development expenditures and a 12% credit for activities related to technological innovation.
The Valencia startup landscape is experiencing rapid expansion, with an annual growth rate of 16% as reported in the 2023 Valencian Region Startup Observatory presented by Startup Valencia. VDS, one of the most prominent international tech events in Southern Europe, takes place in Valencia. Organized by Startup Valencia, VDS annually gathers the world’s top startups along with the most influential corporations and investors at the City of Arts and Sciences in Valencia, giving a voice to the brightest leaders within the global innovation and technology ecosystem.
Ecosystem by the Numbers
NUMBER OF UNICORNS
(H2 2021 - 2023)
Sub-Sector Strengths
AI & Big Data
AI and Big Data have markedly influenced life and the economy in Valencia's startup ecosystem. According to the Valencia Region Startup Observatory, over 35% of startups are leveraging these technologies. Specifically, 20.71% of firms are developing solutions with AI, and 15.61% are utilizing Big Data. Quibim doubled its turnover to $1.7 million in 2022 by using AI models. Rosita Longevity employs AI to track user progress, while Solver AI uses AI to forecast future business scenarios.
Life Sciences
Valencia has emerged as a leading city in science in Spain, with over 14% of its startups operating in this sector. A network of research institutions (CIPF, IIS La Fe, INCLIVA, FISABIO, IBV), industrial clusters (BIOHUB VLC, Bioval, Parc Científic de la Universitat de València), alongside private organizations and investment funds synergize with a vibrant startup scene to establish a thriving biotech hub. Standout companies include Artech Biotech and Corify Care, a biomedical startup that secured €2.3M in 2021.
Gaming
Home to game development studios including 31st Union, Codigames, and Chibig, Valencia is a Gaming hub. Educational institutions include ESAT, which was ranked the top videogame school in Spain and seventh worldwide by GAMEducation, and Universal Arts School, ranked the 15th best animation school in the world by ACR. Valencia Game City is an initiative designed to establish Valencia as a major player in the video game and Esports industries. The Open World Now festival annually fuses the worlds of gaming, Esports and innovative use of emerging technologies with physical and digital experiences.
Reasons to Move Your Startup to Valencia
Public-Private Collaboration
Public entities like Las Naves, IVACE, Invest in VLC, and Ideas UPV collaborate closely with private organizations such as Startup Valencia, Valencia Chamber of Commerce, and BIGBAN Private Investors, alongside companies like GoHub Ventures, Marina de Empresas, Lanzadera, CEEI Valencia, KM Zero, Innsomnia, Zubi Labs, Social Nest, Star Startups, Plug and Play Tech Center, Innsomnia, Valencia Port Foundation, and Draper B1.
Inclusive Startup Community
Valencia's startup ecosystem thrives due to its strong sense of community and initiatives like Startup Valencia's Soft Landing Program. The city hosts more than 100 tech events each year, like the international tech event VDS that recently struck a deal with TNW to boost the event in Europe for its seventh edition. Other notable events include VLC TechX-perience, BIGBAN Investors Congress, FORINVEST, Valencia 5G Day, OWN, F’Talks and The Gap in Between.
International Talent
Valencia’s competitive education system is a talent goldmine, providing startups with an educated young workforce. The University of Valencia ranks among the best 50 global universities in Business Administration and the Polytechnical University of Valencia is ranked as the best polytechnic in Spain in the Academic Ranking of World Universities 2023. Moreover, Valencia has been chosen to host the first Center for Digital Technology and Management out of Munich, a benchmark in university training in open innovation and entrepreneurship.
Selected Startup Organizations
Startup Genome Members
MEMBER
Valencia Innovation Capital
València Innovation Capital is the initiative of the city council to promote a dynamic, diverse, and creative city, bringing together all the agents to work on the political and economic transformation towards a sustainable and technologically advanced future through public-private collaboration.
Valencia Innovation Capital focuses on innovative policies that promote the digitalization of the city and drive prosperous socio-economic development by the attraction and retention of talent to pursue the successes of the innovative entrepreneurial ecosystem in Valencia.
We are the local public entity promoting innovation and managing the 10.000m2 dedicated to innovation and technological entrepreneurship in two buildings.
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