“Spain needs to bet on more disruptive startups”

“Spain needs to bet on more disruptive startups”

Luis Garcia LopezMadrid Updated: 06/25/2022 02:59h

The 'startup' entrepreneurship model is already a consolidated reality in Spain, with a total of 4,294.83 million euros raised in investment in 2021, a growth that quadruples the 1,107 million invested in 2020. However, there is still much way, as some of the members of this emerging sector point out, focusing on the role of the banking sector, venture capital funds and public institutions for its development and application.

Miguel Ángel Fito, co-founder and CEO of Uttopion Metaverse, points out how many proposals with novel concepts or based on recent technology encounter an extra barrier when seeking investment. "While in the United States projects were valued at 150 or 200 million dollars with a much less developed technology than ours, in Spain they asked us how many users we had, in the development phase," he says.

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