Spain’s entrepreneurialism is reaching new heights, energized by the success stories and talented operators that are creating global impact. Julio Martinez Co-Founder & CEO, Abacum These role models are more than just businesses; they are proof points of a thriving ecosystem that’s attracting a surge of early-stage capital, both from within our borders and be- yond. The fundamentals driving this momentum are robust—a cost-effective living standard combined with a deep talent pool from world-class universities, a vibrant expat community and strong public policy initiatives. This is fostering a landscape where Spanish startups not only start but stay to scale up. The increase in investment is a clear indicator of con昀椀dence in the Spanish market, and as these investments grow, they fuel the continuous cycle of innovation and success, propelling the Spanish tech sector forward. Tech entrepreneurship has exploded across Europe The universe of funded companies is one useful measure of the scale of Europe’s tech ecosystem, but a more comprehensive picture must also include the full universe of active tech startups, irrespective of whether they have raised venture capital. This expands the tech startup universe by a factor of more than 10x from 45,000 to around 600,000 tech com- panies across the region. This also serves to highlight just how few tech startups (just 7.5% of all tech start- ups) actually embark upon the venture capital funding journey, whether voluntarily by choice or involuntarily as they do not succeed in raising external capital. | 114