Barcelona consolidates its position as a reference for entrepreneurial and digital talent
Image: Arduino Vannucchi
Barcelona is solidifying its position as one of Europe’s leading hubs for entrepreneurship. With a thriving scale-up ecosystem, a strong talent pool, and increasing global appeal, the city continues to attract innovative businesses and investment. However, despite significant progress, challenges remain. The third edition of the Barcelona Global Scale-Up Monitor 2024, presented in collaboration with CaixaBank DayOne and IESE, has provided valuable insights into the current state of scale-ups in the city and the steps required to strengthen Barcelona’s position as a global innovation hub.
The Scale-Up Landscape
The findings of the Scale-Up Monitor 2024 confirm that Barcelona is not only a key player in the European entrepreneurial ecosystem but is also becoming a global reference. The city remains the leading startup hub in Southern Europe and ranks as the second most preferred location for entrepreneurs in Europe. It is also the fifth European city with the highest number of scale-ups, reinforcing its reputation as an attractive destination for business expansion.
One of the most encouraging aspects of this year’s report is the improvement in access to talent. In 2021, 37% of startups identified hiring as their most pressing challenge. In 2024, that figure has dropped to 18%, indicating that Barcelona’s workforce is evolving to meet the demands of the sector. According to Josep Lluís Sanfeliu, Managing Partner at Asabys Partners and Member of Barcelona Global’s Executive Committee, there is still high demand for talent, but companies now seek more mature and specialized profiles.
Furthermore, 94% of Barcelona’s scale-ups plan to expand their teams in the next eighteen months, with 22% of them expecting to hire at least thirty new employees. These numbers suggest a dynamic and expanding ecosystem that continues to generate new opportunities.
Overcoming Barriers and Strengthening Barcelona’s Position
While talent availability has improved, scale-ups in Barcelona face two significant obstacles: access to funding and bureaucracy. According to the report, 41% of companies cite lack of financing as their biggest challenge, while many entrepreneurs continue to struggle with administrative hurdles that slow down growth.
Despite recent policy improvements with the new Ley de Startups, there is still a perception that Spain’s business regulations do not favour high-growth companies. Securing investment, particularly from international sources, remains a critical concern. Mercè Conesa, CEO of Barcelona Global, emphasized the need for a public-private investment fund that would provide essential financial support to scale-ups during their growth phases.
Beyond addressing these financial constraints, Barcelona must continue to refine its business environment to ensure long-term success. Simplifying bureaucratic procedures, enhancing protections for intellectual property, and strengthening collaboration between universities and businesses are essential steps. Especially the latter one, since improved partnerships between academic institutions and the private sector would facilitate innovation, bridge the gap between research and commercialization, and supply a steady stream of highly skilled professionals to the ecosystem.
Additionally, Barcelona must continue fostering an entrepreneurial culture that encourages internationalization. Scale-ups require easier access to global markets, stronger networks for collaboration, and a regulatory framework that enables fast and efficient business operations. Expanding fiscal incentives for venture capital investment and streamlining administrative processes would further enhance the city's attractiveness.
Why This Matters for the Future of Barcelona
The city is no longer just a place to launch a startup; it is emerging as a scale-up powerhouse with the potential to rival some of the world’s top innovation hubs. To maintain and strengthen this position, policymakers, investors, and business leaders must take proactive steps to address funding shortages, streamline bureaucratic procedures, and support internationalization efforts.
Barcelona has all the necessary elements to succeed, and Barcelona Global’s Scale-Up Monitor 2024 has provided a clear roadmap for the city’s entrepreneurial future. By implementing targeted policies and fostering an innovation-driven mindset, the city has the potential to become one of the most competitive scale-up ecosystems in the world. Now is the time to build on Barcelona’s strengths and create an environment where scale-ups can thrive, innovate, and compete on a global scale.
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