Explore the first report on Spain’s deep tech spin-off companies, developed by Mobile World Capital Barcelona, to provide a comprehensive overview of tech transfer and innovation.
The deep tech spin-off ecosystem in Spain includes 1,210 companies generating 12,200 high-value jobs.
The deep tech spin-off ecosystem in Spain has shown significant progress in recent years and has established itself as a key driver in accelerating innovation. These companies stand out for their ability to turn scientific breakthroughs into disruptive products and services, adding value to the country’s industrial fabric.
What is a Deep Tech Spin-off Company?
The term spin-off in Spain is most used to describe companies derived from innovation centers and universities, created to exploit products or services derived from scientific and technological discoveries. In other countries, these might be called spinout or starbust companies. Furthermore, deep tech spin-offs focus on disruptive technologies aiming to solve complex problems that require extensive research, development, and investment before they can be commercialized.
Catalonia and Madrid, Leading Regions for Deep Tech Spin-offs in Spain
In an ecosystem with 1,210, Catalonia and Madrid are Spain’s primary deep tech hubs, with 355 and 319 spin-offs respectively. The top 10 regions with the highest number of spin-offs also include the Valencian Community (124), Andalusia (120), the Basque Country (92), Castile and León (41), Murcia (31), Galicia (29), Navarre (23), and Aragon (21).
Universities and Research Centers: Key Players in Technology Transfer
Universities and research centers play a crucial role in the emergence of deep tech spin-offs. These institutions not only generate advanced scientific knowledge but also facilitate the creation of companies that bring this knowledge to market.
Biotechnology, Health Technologies, IoT, 5G, Advanced Analytics, and Artificial Intelligence: Leading Technologies
The predominant technologies in the business models of deep tech spin-offs in Spain include biotechnology (18%), health technologies (16%), Internet of Things (IoT), edge computing, 5G technology, security, and sensors (15%), advanced analytics and big data (8%), and artificial intelligence, machine learning, computer vision, and deep learning (7%). Additionally, the sectors with the highest concentration of deep tech spin-offs in Spain are health (35%), ICT and digital (17%), Industry 4.0 (12%), and clean energy (12%).
Deep Tech Spin-offs Employ More Professionals Per Company Than Start-ups and SMEs
On average, deep tech spin-offs in Spain employ 10 professionals per company, generating a total of 12,200 high-value jobs. The average employment rate per spin-off exceeds the average employment recorded for small and medium-sized enterprises (SMEs) in the EU (6 employees) by 66% and more than doubles the average employment of Spanish SMEs (4.7 employees).
An Estimated Annual Revenue of 2 Billion Euros
Spin-offs are integral to the business landscape and have great potential for impact in various areas of the economy and technological innovation. The average revenue for these companies in Spain is €1.67 million. Thanks to the competitive advantages offered by emerging technologies, deep tech spin-offs outperform the average revenue of SMEs and start-ups.
Gain insights into the role of deep tech spin-off companies in driving Spain’s innovation ecosystem, featured in the latest Mobile World Capital Barcelona.