A Spanish unicorn organization is born to lead a new model of digital production

A select group of 9 startups, mostly unicorns, founded EsTech, an organization of high-growth companies that want to make the impact of a new productive model more visible. The platform was born under the aegis of Adigital and benefits from the collaboration of Endeavour, Ascri and Tech Barcelona. The 9 founding members of EsTech are Cabify, Factorial, Filmin, Glovo, Holaluz, Jobandtalent, Neuroelectrics, RedPoints and Wallbox.

“We believe that these companies will accompany the Ibex35 in size and representativeness in the years to come, forming a fabric of very innovative large companies,” said Ana Maiques, president of EsTech, and CEO and co-founder of Neuroelectrics, during the press conference. March 30.

In 2021, the ecosystem received an investment of approximately 4.3 billion euros, which represents a growth of 288% compared to the previous year. According to the promoters of the association, Spain has made great strides in creating a business fabric based on technology, job creation and strong growth, which is facing a new stage of contribution at home and consolidation in a global environment.

The happy marriage of Spain and technology

The main objective of EsTech is to make the contribution of Spanish scale-ups to the economy, the environment and the labor market of the country more visible. According to the association, they want to promote development and leadership in the productive fabric based on technology and digital so that it can reach 40% of Spanish GDP by 2030. Among the main priorities of EstTechi are the attraction and generation of talent, access to financing, as well as the dissemination of this new digital economy.

Currently, it is estimated that there are between 400 and 450 startups in the growth phase in Spain. According to the Scale-Up Spain report, Spanish scale-ups generated 324,000 jobs in 2020, with a forecast for 2021 to generate 671,500 jobs.

We need to attract talent and capital. And to add this 1% to the GDP thanks to the unicorns. Let’s make Spain and technology go hand in hand”

Additionally, up to 9 Spanish startups today have the potential to reach a billion dollar valuation and achieve unicorn status in the coming months, according to the latest Top 100 Next Unicorns report produced by Viva Technology and GP Bullhound, and it is estimated that there are 20 Spanish scale-ups close to reaching 800 million euros in value.

Antonio Iglesias, managing director of Endeavor Spain, said that only these 20 scale-ups have the potential to increase Spain’s GDP by 1% if they manage to become a unicorn, because in 2021 companies that have reached this status have managed to raise 400 million euros on average and invoice 600 million euros. For him, the Spanish ecosystem has a historic opportunity that he cannot miss.

Carina Szpilka, president of Adigital, said in the press conference that Spain can be associated with technology and defended that “defining a common action plan between organizations and collaborating with institutions is essential to create a common history and promote measures that affect the economic development, innovation and competitiveness of the country, as is the case in neighboring countries such as France or Germany”.

Technology and innovation make people better. We can do it. But we have to do it together. We need to attract talent and capital. And to add this 1% to the GDP thanks to the unicorns. Let’s make Spain and technology go hand in hand,” Szpilka added.

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