Spanish scaleups foster direct and indirect job growth

Wayra has recently presented at South Summit, through its Scale Spain Network program, the report «Impact of scaleups on the economy of Spain»

The report, which offers an analysis of the contribution of scaleups to the Spanish economy, highlights that last year, turnover reached 1,660 million euros, a figure that in 2021 is expected to increase by 90.6% to reach 3,164 million of euros.

In terms of employment, Spanish scaleups are catalysts for direct and indirect employment. In total, they closed 2020 with 8,800 direct employees and 285,300 jobs created indirectly. Once again, the scaleups that are in the rocket phase are the most active in this area, with an average of 706.1 employees and about 50,700 workers in services and satellite companies.

These figures allow us to assess 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 they move to the highest phase of their evolution in this new category.

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More than 90 companies from different sectors

The report, which has had the participation of more than 90 companies from different sectors and types of activity, demonstrates the key role that these types of companies play in the creation of wealth and employment in our country, as well as in the construction of a robust and competitive business fabric at a global level.

The mission of Scaleup Spain Network, together with Wayra, Endeavor and Fundación Innovación Bankinter is to contribute to reinforce the business network in Spain. The program provides accompaniment, mentoring and support to Spanish startups to transform them into scaleups, a key part of the national economic engine.

Likewise, Scaleup Spain Network offers theoretical and practical training to founders and management team of the selected startups, at no cost to them. During their participation, they will learn to anticipate the challenges they will encounter throughout the evolution of their companies and will be part of a network of collaboration between founders that will allow them to continue training and exchanging experiences.

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