Spanish scaleups will reach 3,167 million euros in turnover this year, compared to 1,660 million euros in 2020, which represents a growth of 91%. That is one of the most outstanding results of the report ‘Impact of scaleups on the economy of Spain’, presented by Scaleup Spain Network, the program launched by Fundación Innovación Bankinter, Wayra, Telefónica’s open innovation hub, and Endeavor.
The study analyzes the contribution of scaleups to the Spanish economy, that is, what is the behavior of those startups that have managed to evolve and grow towards a dimension of greater economic and social impact with more than one million euros in turnover. In turn, these companies have with three growth phases:
- Scaler: more than one million euros of average turnover in the last three years.
- Growth: more than 10 million euros of average turnover in the last three years.
- Rocket: more than 50 million euros of average turnover in the last three years.
A study has analyzed how the billing of these companies shoots up, reaching an 11-fold increase when a scaleup evolves from scaler a growth, and by 12 in the step of growth a rocket.
“These figures focus on the importance of promoting startups in their conversion to scaleups and, once this first leap is overcome, ensuring that their growth does not stagnate and transits to the highest phase of its evolution in this new category “, has assured during the presentation Javier Megías, Director of the Startups program of the Bankinter Innovation Foundation.
Scaleups as job creators
The report ‘Impact of scaleups on the economy of Spain’ has also analyzed the employment generated by these companies. Specifically, the Spanish scaleups closed 2020 with 8,900 direct employees and 315,300 jobs created indirectly.
Once again, the scaleups that are in phase rocket They are the most active in this field, with an average of 800 employees and some 67,000 workers in services and satellite companies, which represents a generation of 83 indirect jobs for each direct position. In the case of direct employment, the multiplication factor is 4.3 in the case of scalers and 4.5 in that of scalers. growths.
In this sense, the sectors in which job creation by scaleups is most notable are Mobility & Logistics, with 13,600 direct jobs and almost a million indirect ones; Business & Productivity, with 3,100 direct jobs and 260,100 indirect; Y Retail, with 2,300 direct jobs and 4,700 indirect ones.
Refering to investment In Spanish scaleups, the data collected indicates that 86% of its capital comes from Spanish investors, followed by 52% from European funds, 32% from Americans, 11% from Asians and 14% is residual from other countries . However, the roadmap for Spanish scaleups is directed towards a more international financing model, which focuses mainly on Europe and the United States, so that Spain will play a less decisive role.
