The ranks of female startup founders on the rise in the Spanish entrepreneurial ecosystem
The number of female startup founders has increased by 36% compared to 2022, according to the figures in âThe Role of Women in the Startup Ecosystemâ, a report compiled by El Referente with the sponsorship of BBVA Spark. The healthtech sector accounts for most of these entrepreneurs, followed by founders of high-growth companies in SaaS (Software as a Service) and artificial intelligence ecosystems.
The number of female founders of high-growth companies will hit 1,130 in 2023, compared to 699 just a year ago. These are the findings of ‘The Role of Women in the Startup Ecosystem‘, a report produced by El Referente, a media outlet specialising in startups, in collaboration with BBVA Spark, ENISA (a public company that provides funding for entrepreneurial and innovative projects) and ICEX, a Spanish public body that aims to promote the internationalisation of Spanish companies.
Things are trending in the right direction, but there is still a long way to go. Considering the total number of startup founders in Spain today (7,206), the percentage of female founders has fallen to 15.6% compared to the 16.3% reported the year before, according to the data collected in the study.
âAs a society, we should, and we can, support the talent that lets us close the gender gapâ, says MarĂa de Miguel Santos, Deputy Director General for Talent and Digital Entrepreneurship for the State Department for Digitalisation and Artificial Intelligence at the reportâs presentation event.
Healthtech, SaaS and AI, the sectors and technologies with the highest female presence
With more than 1,000 women founders of startups now identified, the number of women in the entrepreneurial ecosystem continues to grow, boosted thanks to examples like the STEMpreneur women, those who have made the leap from science to entrepreneurship, and the rise of femtech startups. Their contribution, however, is also evident in many other sectors and technologies.
Healthtech is the sector with the highest number of female startup founders in Spain, with 180 women founders (representing 23% of the total number of founders identified), followed by those who have founded their high-growth company in the SaaS (Software as a Service) ecosystem with 170 women (12%) and the AI field, where more than 100 women founders have also been identified (26%).
On the other hand, female entrepreneurs who have founded a company in fashion, the industry where women represent a higher percentage (35%) than men, make a strong showing compared to other sectors and technologies. Examples include Valencia-based company Clotsy, cofounded by Ăngela GĂłmez; the sustainable fashion training and consultancy platform Slow Fashion Next, founded by Gema GĂłmez; and fashion brand Fabbric, cofounded by Alba Rocafort.
Investors and ecosystem allies, committed to supporting female startup founders
Support for these and other female founders also involves the role of women investors, as well as those in management positions. According to the study, there are currently 100 business angels who are actively investing and more than 90 in management positions of venture funds, venture builders and corporate innovation
âWomen have an empathic capacity that is fundamental when it comes to analysing and solving problems that entrepreneurs encounterâ, explained VerĂłnica Trapa, Managing Director at Swanlaab Venture Factory, a venture capital fund based out of Madrid, during the event. Besides the investment ecosystem, allies of the entrepreneurial ecosystem like BBVA Spark also help to promote female voices that choose to become entrepreneurs. âWe promote equal opportunitiesâ, said MarĂa Agustina RamĂrez, the fundâs head of Strategy, Product Development and Marketing.
This support network also manifests itself in scaleups, companies that have experienced annual growth of more than 20%, either in terms of turnover or number of employees, and whose expansion now represents another sign of maturity of the Spanish entrepreneurial ecosystem. In this type of company, women’s voices are heard loud and clear: 20% of Spanish scaleups have at least one woman on their founding team, the study found. Their stronger presence is also echoed at the European level, where there are more than 600 scaleups co-founded by women
Catalonia and the Community of Madrid, a launch pad for women entrepreneurs
Barcelona is the fifth best European ecosystem for launching a startup. At the forefront of healthtech, women have also found the city home to an environment that is conducive to entrepreneurship and new startups. Catalonia has thus earned itself the reputation as the countryâs main hub with the highest number of female startup founders, 342, which accounts for 30% of Spainâs total. Energy transition technology, Holaluz, cofounded by Carlota Pi; natural cosmetics company Freshly Cosmetics, cofounded by Mireia Trepat, and foodtech startup Nora Real Food, founded by Nora Vallcorba, serve as just a few examples.
The Community of Madrid is, after Catalonia, the second hub with the highest number of female startup founders (318), 28% of the Spanish total, and it ranks first if weâre talking about scaleups with female representation. This is the case of We Are Knitters, which sells natural fibres and was cofounded by Pepita MarĂn; Metricool, a social network analytics and planning tool co-founded by Laura Montells; and Fintonic, a fintech for savings and tracking expenses, cofounded by Lupina Iturriaga.
Examples like these are shaping the growth of the profile of female founders of Spanish startups, helping to bring about a future where equality in this field is not only just a goal, but also a reality.
