What is a startup?
A Startup is a company in the beginning phase of development usually with less than ten years of operating, applies an innovative and scalable business model, and generally uses information and communication technologies (ICT). The term “Startup” is often associated with high-tech companies that use technology to create something innovative or to perform a task in a new way. The technology component allows these companies to scale quickly with less capital than a traditional company.
Startups in Catalonia
In recent years, Catalonia has become one of the main destinations for the development of startups in all of Spain. Startups in Catalonia have grown exponentially in recent years, with 1,902 startups in 2021, which is 11.4% more than in 2020. In total, they generated around 1,710 million euros and employed 19,307 people. This data was presented by the Conseller of Business and Labour of the Generalitat, Roger Torrent at the beginning of 2022.
Catalonia is at the forefront of innovation and technology. There are a large number of investment and financing programs to support the growth of start-ups in the region. The Barcelona & Catalonia Startup Hub, provides a portal where the Catalan entrepreneurship ecosystem can connect.
Barcelona is at the forefront of this wave of entrepreneurship. Regarding the volume of investment captured by startups in 2021, Barcelona is ranked 6th within the European Union.
Heura Foods
- Founders: Marc Coloma and Bernat Añaños
- Founding year: 2017
- Headquarters: Barcelona
- Number of employees: 170
- What does this startup do: Heura operates in the food sector, making meat of 100% vegetable origin with a mixture of vegetables and seeds.
- Company Background: They started their business from a coworking space and with the help of organizations such as Net Mentor and Barcelona Activa they managed to develop their project. In 2022, it launched a new round of financing of 20 million euros. In just 12 hours, they raised more than 4 million euros through their crowdfunding campaign. Heura Foods seeks to position itself as the European leader in the plant-based products market.
Factorial HR
- Founders: Jordi Romero, Pau Ramón and Bernat Farrero
- Founding year: 2016
- Headquarters: Barcelona
- Number of employees: 750
- What does this startup do: Factorial HR has created software that helps companies automate their human resources processes and make smart business decisions.
- Company Background: Around 60,000 companies used Factorial in their first two years of operation. In 2020, Factorial achieved the highest investment round in Spain of €15 million with the support of CRV, a Silicon Valley investor in Twitter, Dropbox and Zendesk. Factorial multiplied its revenue by a factor of eight and continues to grow internationally.
AcceXible:
- Founders: Carla and Javier Zaldua Aguirre
- Founding year: 2018
- Headquarters: Barcelona
- Number of employees: 15
- What does this startup do: this company develops a system that allows the early diagnosis of dementia, Alzheimer’s, depression and Parkinson’s, among other diseases, and with an accuracy of 93%.
- Company Background: AcceXible, in its early phase, raised 1.4 million euros in grants. In 2021 it raised 959,000 dollars in seed phase financing. Currently, AcceXible is in the international expansion phase, in the United Kingdom and the United States.
Doctomatic
- Founders: Frederic Llordachs and Carmen Rios
- Founding year: 2021
- Headquarters: Barcelona
- Number of employees: 11
- What does this startup do: The Doctomatic application helps doctors monitor chronically ill patients via the devices the patients have at home.
- Company Background: Doctomatic was created with the financing of 415,000 euros from Encomenda Smart Capital and Ship2B Ventures. The company is currently in negotiations with insurers in Spain and Latin America.
Payflow
- Founders: Avinash Sukhwani and Benoit Menardo
- Founding year: 2020
- Headquarters: Barcelona
- Number of employees: 200
- What does this startup do: Payflow is a salary advance fintech solution. With Payflow, employees will be able to get paid whenever they want and have flexible remuneration from a single mobile application.
- Company Background: More than 450 companies and 200,000 employees use Payflow. In January 2022 Payflow, which is backed by YC, completed a $9.1 million Series A funding round, bringing its total capital raised to $13.6 million since January 2020.
Creating a startup is always hard work. In Catalonia, emerging companies have a very promising future, as they have the support of the Government, the Barcelona & Catalonia Startup Hub, city councils and investors, which allows them access to the necessary resources to grow and develop. Innovation and technology are the engines of this new economy, and the region has a great opportunity to take advantage of this momentum to become a well respected centre of innovation.
If you’re currently launching a new startup, contact Barcelona & Catalonia Startup Hub or Barcelona Activa for assistance and advice.
