This is the conclusion of the third edition of the study 'Analysis of a new generation of start-ups in Spain and Portugal' prepared by CaixaBank, through DayOne, and with the collaboration of the IESE business school.
The study analyses the evolution experienced over the last year by 763 innovative companies from Spain and Portugal (87% Spanish), all of them participants in the EmprendeXXI Awards, a loan data call for entrepreneurs co-organised by CaixaBank and the Ministry of Industry, Trade and Tourism, through Enisa.
The healthcare (9%), food and beverage (6%), social impact (6%) and energy (6%) sectors are the preferred ones for entrepreneurs and those with the highest concentration of start-ups. However, the sectors estimated to be "most profitable" are aerospace, with 80% of companies in this field having a positive EBITDA, followed by fitness and wellness (67%) and entertainment (67%).
76% of companies have their “competitive advantage” based on a product superior to the competition, with solutions based mainly on software and platforms (15%), data analysis (12%) and artificial intelligence (8%). In addition, almost a third of the companies analysed (28%) have a “fully developed product, as well as a solid and diversified customer base” (22%).
In terms of business model, 43% choose subscription payment to monetize innovation, while 58% opt for B2B (business to business) and a type of activity oriented to the professional market.
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Likewise, 65% of entrepreneurs say that obtaining financing is their main challenge. The report indicates that the total volume of financing received by the companies analysed since their creation reaches 270 million euros, of which 245 million correspond to Spanish companies. Financing continues to come mainly from own funds (55%), with a slight decrease compared to the previous edition (59% in 2020). The main sources of financing are contributions from family and friends (13%), the participation of Business Angels (12%) and venture capital investors (9%).
