While Madrid and Barcelona tend to attract all the attention when it comes to tech startups in Spain, Valencia has made a name for itself as a growing tech ecosystem. Valencia, the country’s third largest city, offers great beaches and sunny weather – year-round, affordable housing and healthcare, and it is a little more manageable compared to Madrid or Barcelona.
The city has also produced a wealth of talent, and the InterNations Expat City Ranking 2020 has named it one of the best cities for expats. The city was named the third best expat city in the world for the year, behind London and New York City.
To find out what the start-up scene in Valencia looks like, we spoke to eight local investors, managers and founders. The city seems to be one of the most promising places in the world for the blockchain and cryptpo scene, but it could improve, according to some of our interviewees.
The city’s investment landscape is not particularly large, but it is growing as family businesses, private and institutional investors rely on technology. Some of the city’s best-known start-ups, such as BigBAN, include some of Spain’s most successful technology companies and start-ups, and incubators and accelerator programs are spreading across the country to help develop blockchain and cryptocurrency companies and other tech startups. BIGBan is a venture capital firm based in Valencia with offices in Barcelona, Madrid, Barcelona and Valencia. The company invests in start-ups and most investors focus on financing assets, according to the company’s founder and co-founder.
The tech ecosystem is strong in all sectors, but most look to the fintech and cybersecurity sectors, with a strong focus on blockchain and cryptocurrency technology, according to the company’s co-founder.
The investment scene in Valencia is growing and key sectors are fintech, agricultural technology, travel and technology. Some of the most interesting start-ups in the city include digital currency company Bitfinex and blockchain and cryptocurrency company Blockchain.com.
The capital will also be invested in other sectors such as agriculture, travel, technology, education and financial services. There are also efforts in the financial sector, with capital also investing in education, health, energy, tourism, financial technology, and the environment.
The best incubator and accelerator programs in Spain had to be created and developed in Valencia, which is based on the same principles as other cities such as Barcelona, Madrid and Barcelona.
Do you think that people will stay or move away after switching to remote work, or do expats and digital nomads prefer to move to Valencia? People will either move or stay in the city, but I think they will stay or move away because the Toremote is working.
The tech ecosystem is strong in all sectors, but the tech sector and others have a strong emphasis on fintech and cyber security. Where do you think the city’s tech scene will be in five years and where in ten years?
What are the most interesting start-ups in the city that you are most looking forward to and what are you looking for?
I think people will stay or move away, or will they stay and move in? People will either move in or move out, but I think they will stay and move away because the switches don’t work.
Where do you think the city’s tech scene will be in five years and which industries do you look forward to most? Virtual reality is strong and exciting, but the technological ecosystem is stronger in all sectors.
Valencia’s technology ecosystem is heavily geared to nurturing technological talent, and there are a lot of people with skills in AI and cybersecurity, whether in data science, artificial intelligence, machine learning or data analysis.
Foreign fintech companies like Creditas of Brazil have settled here, and there are a number of accelerators that are getting stronger. We also have some of the best fintsech start-ups – here grow ups; we have some unicorns in Finterech and Flywire, but we also have a lot of success growing our best tech companies.
Valencia is also traditionally strong in the video games sector, with a strong presence in the video games industry and a number of successful games and entertainment companies.
Start-ups are now growing in this vertical area, and Valencia is thanks to Lanzadera. The world-renowned academies based here offer great talent And that’s why we had some of the most interesting start-ups in town, and that’s why they’re so successful. Indeed, Valencia has been a key hub for the development of a number of high-tech startups, both in the technology and security fields. It is actually one of the major technology centers for startups and startups in general, but it is also home to the world’s leading cyber security companies.
But it’s also home to some of the world’s leading companies in cyber security, such as Kaspersky Lab, Symantec and Trend Micro, among others.
Most investors are business angels or early-stage investors, but some venture capital firms such as Sequoia Capital are also active in space.
Valencia is a nice place to work and close to the Mediterranean, but do you think people will stay or move away because of the switch to long-distance work?
So many people come from far away to work here, but at the same time people are moving out of the country to work. Bloomberg has recognized this city as the number one in the world that can work, and so many of them will come here and work far away.
What do you think about where the city’s tech scene will be in five years “time, and whether it sees itself as a hub for fintech and cyber security, or just a technology hub in general?
A number of Valencia players have left Serie A but at the moment only Flywire have managed to do so. Hopefully in five years’ time there will be something like that in Serie B, C and D.
The technological ecosystem is strong in this sector and it is one of the most cared for and looked after in the country, not only in Valencia.
One of the most interesting start-ups in the city is Bebe, a security company focused on security and cyber security solutions for the private and public sectors, as well as for the government.
Do you think people will stay or turn away from the switch to remote work? People are moving, but there are many different types of people in the technology sector, from small businesses to large companies.
Where do you think the city’s tech scene will be in five years and which industries do you look forward to most? The tech ecosystem is strong in all sectors, but I think it’s strongest in the tech sector.