Basque Country’s Startup Ecosystem Analysis (III)

Although it may not seem like it, I am an engineer, and there is a part of me that loves data.

A great university professor told me some time ago “What is not data is an opinion” and the fascinating thing about startup ecosystems is that almost everything can be measured.

It may not be useful to predict the future (That’s what VCs are already for ;)), but at least it allows us to understand the present.

THE DATASET

For this third analysis, I have relied on the data collected in the two previous analysis I have done:

Analysis of the agents of the Basque Country ecosystem

Analysis of Basque Country’s startups

For each of the datasets I have carried out an analysis, which you will see below.

THE TOOL

I have used the tool Graphext, which is a tool for doing advanced analytics using unsupervised learning and that is mostly used for analyzing customers, products or employees to find relationships between them.

It is a tool that is specialized in finding hidden relationships within your data. When you upload a dataset, the tool treats every row of your data as a node and every node is linked with other nodes based on discovered relationships.

THE ANALYSIS

1. Agent Analysis

With the data that we have, we can see 9 different clusters, which normally coincide with the type of agents of the ecosystem. However, it is interesting to observe the relationships and connections between them.

Some conclusions:

• The most numerous type of agents is “startups” and the least is “Coworking Spaces” together with “Venture Capital”:

• Most of the agents are located in Bilbao, followed by San Sebastian and Vitoria:

2. Startup Analysis

With the data that we have, we can see 5 different clusters, which normally coincide with the category of the startup.

Some conclusions:

• The most numerous category is Industry 4.0, followed by Greentech and Healthtech:

• Most of the agents are located in Bilbao, followed by San Sebastian and Vitoria:

• Company size is related with the amount raised in investment rounds:

CONCLUSION

I hope this analysis helps to better understand the Basque Country’s startup ecosystem and as in all the previous analyzes, anyone who wants the analysis data does not hesitate to ask me.

You have here the public Graphext dashboards where you can play with the data and see the results: Agent Analysis & Startup Analysis.

Follow the blog for further analysis ;)

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