The large quantity (and quality) of the foodtech technologies that are being developed in Spain have consolidated it as a leading country in investment and development of startups dedicated to this ecosystem. In this sense, The agri-food sector is key to the Spanish economy, since it represents about 10% of the national GDP and, in addition, generates about 2.7 million jobs, according to the report The State of Foodtech in Spain 2022. In the same way, the report relates the profound transformation of the supply chain agri-food value, due to the incorporation of innovation to meet the global challenges of sustainability, health and food safety.
Along the same lines, the national foodtech ecosystem is made up of by more than 400 companies, thus positioning itself as one of the most prolific ecosystems of entrepreneurship. In 2022, Madrid has revalidated its leadership in number of startups, followed by Catalonia and Andalusia. In the same way, the survival rate of startups has also grown to 60%, which represents an increase of 20% compared to the previous year. On the other hand, as revealed by María Eugenia Montes from Last.app, “The foodtech sector continues to be a key driver for the generation of qualified employment, since it has experienced growth of close to 26% in terms of job creation in 2022”.
Investments in footech continue to rise
Despite the adverse economic context, the investments in the Foodtech sector continue to increase. The report The State of Foodtech in Spain 2022 reports that the amount of money invested in the first half of 2022 has grown by 20.8% globally, compared to the first half of 2021. On the other hand, the total investment It has stood at 268 million euros, which represents an increase of 9.3% compared to the investment in 2021, which was 245 million euros, thus consolidating the constant growth of investment in the sector.
As indicated Maria Montes from Last.app“Investment growth has been driven by the need to transform the value chain, in order to promote more resilient and, above all, more sustainable growth”. In this sense, the largest investments have been made in startups that work in restaurants or retail, as has been the case for some time. However, companies dedicated to protein alternatives also stand out as recipients of capital.
