Madrid has invested 2,500 million euros in the creation of startups

According to data from the office, Madrid Investment Attraction (MIA), in 2021, the capital became the city for the first time where more has been invested in startups, with investments amounting to 2,489 million euros. The figure multiplies the investment by 7 compared to the previous year, 589% more, according to the conclusions of the annual report of the Bankinter Innovation Foundation.

The objective of MIA is the international promotion of the city as an attractive economic space and the proactive search and subsequent attraction of companies, investment and foreign talent to Madrid. Among the strategic capture sectors, it stands out the attraction of startups and, specifically, those from the fintech sector.

The antenna specialized in the fintech sector has been awarded to Finnovating, a few weeks ago. His choice was due to his deep knowledge of fintech ecosystems of the main economies of our environment, so it becomes the perfect partner to strengthen Madrid’s position as a hub and attract companies, talent and investment linked to a strategic activity in economic development and, therefore, for the future of the city.

Miguel Angel RedondoEconomy delegate of the Madrid City Council, has stated that “In this 2022 we have opted to combine this geographical approach, with antennas in strategic economic spaces and with a new sectoral approach, opening a new antenna specialized in a certain activity, specifically fintech. The sector that, according to our experience, is bringing more business projects and more international talent to Madrid in recent years”.

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Among the main tasks of the fintech antenna, are specialized content creation; definition of the strengths and opportunities that Madrid offers for companies and entrepreneurs in the field of fintech; identification of prescribers and influencers in the field of fintech activity in Madrid; organization of international events abroad; organization of meetings in Madrid; or the creation of shared work spaces in the city to facilitate the entry of fintech companies and startups.

Rodrigo García de la Cruz, CEO of Finnovating states that «Madrid, in just a few years, has become a focus for FinTechs, ranking 4th behind cities like San Francisco, New York and London. The boost, both private and public, from the Madrid City Council and the program Madrid Investment Attraction They have been a unique opportunity to position Madrid as the FinTech capital par excellence by attracting investment and talent, helping international companies to scale and land in one of the best cities in the world.

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