Basque Country’s Startup Ecosystem Analysis (II)
I love the Seedtable newsletter that @Gonzalo Sanchez does every week. I think it is one of the best to keep up to date with all the news in the European market related to the Startup & Tech sector.
I have been a regular reader for a long time, and researching the website I realized that in addition to the newsletter, they have an incredible database of startups classified by country and city.
But there is something that I did not like at all … Basque Country’s startups did not appear!
Therefore, I decided to contact them to see if they were interested in the possibility of adding our startups, with the aim of helping to make the ecosystem visible. He asked me to collect a series of data on startups to be able to include them and once all the data was collected, I began to analyze it on my own:
These are the main conclusions that I draw from the analysis:
1-We only have 57 startups in the Basque Country
2-More than half (53%) are located in Bilbao
3-Only 3 of them have another location outside of Spain
4-The predominant categories are the following: Industry 4.0 (18%), Greentech (16%), Healthtech (9%) and Cybersecurity (9%)
5-In total 918 people work in the Basque Country in startups
6-Most of startups (60%) have between 5 and 20 workers, only having 1 of more than 50 workers
7-The total amount of money raised in investment rounds is $ 80M, the average being $ 4.5M in the rounds
8-However, only 32% of startups have raised an investment round
9-And there are only 5 companies that have raised more than $ 5M
10-The top 5 startups according to their CB score is the following: Sher.pa (9.886) , Lookiero (10.193) , BioTech Foods (10.937) , Counter Craft (13.265) , Multiverse Computing (22.130)
I leave here for anyone who is interested the Excel file with all the data and the corresponding analysis. The data on the number of employees I have used is taken from Linkedin and the ones related to investment rounds from Crunchbase:
https://docs.google.com/spreadsheets/d/1hWBlJM2QRiV_pQeYbLHMXs9obKXpsVTiodrXAc7Q808/edit?usp=sharing
Also, I’m sure I’m missing some startups, some I haven’t classified well, data from rounds is missing … so I invite you to help me complete it!
However, anyone who is interested in knowing more can contact me 😊
#GiveFirst #BoulderThesis #Ecosystem #Community #Startups #BasqueCountry
