SPAIN ENTREPRENEURIAL NATION STRATEGY
What is the Spain Entrepreneurial Nation Strategy?
The Spain Entrepreneurial Nation Strategy comprises 50 measures with a long-term vision for transforming the productive bases of the Spanish economy. The goal is to make Spain an Entrepreneurial Nation by 2030 through innovative entrepreneurship, focusing on ten driving sectors of the country's economy and implementing policies to reduce gender, territorial, socio-economic and generation gaps to advance inclusive economic development.
To this end, the four goals are to attract, retain, and develop talent; accelerate the process of maturing investment; strengthen opportunities for companies to achieve scalability; and to foster an entrepreneurial public sector.
Transforming the productive bases of the Spanish economy
The Spain Entrepreneurial Nation Strategy was designed to generate a new economic and social model, with three interconnected levels:
- 1Innovative entrepreneurship. The creation and development of innovation-based initiatives are the key to leveraging Spain's economic growth. According to the Organisation for Economic Co-operation and Development (OECD), innovative entrepreneurship is the sector that generates the highest short-term returns in productivity.
- 2The sectors driving Spain's economy. The Spain Entrepreneurial Nation Strategy identifies ten driving sectors which, together, make up 60% of the country's GDP. These are manufacturing, tourism and culture, mobility, health, building materials and construction, energy and ecological transition, banking and finance, digital technology and telecommunications, the agri-food industry, and biotechnology
According to the Strategy, innovative entrepreneurship must collaborate with and be grounded in these driving sectors of the Spanish economy. This will enable startups to grow within the strongest industries of Spain's productive fabric. In turn, these industries will benefit from the stimulus of innovation, generating virtuous circles that will enable companies to be more productive, more competitive, and therefore, to achieve a higher capacity to create more and better jobs.
- 3Closing social gaps. The Strategy includes policies to leave no one behind and to foster inclusive development, guaranteeing a narrowing of gender, territorial, socio-economic and generation gaps in a more cross-cutting manner.
The Spain Entrepreneurial Nation Strategy seeks to achieve four major goals:
Investment. Accelerate investment growth in the Spanish innovative entrepreneurship ecosystem.
Talent. Attract, retain, and develop talent to make Spain a truly entrepreneurial nation.
Scalability.Increase opportunities so that a greater number of Spanish companies can scale up, become major corporations, consolidate vibrant sectors, and create quality jobs.
Entrepreneurial public sector.Make the public administration more flexible, establishing a favourable regulatory environment to promote investment.