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SOUTH SUMMIT 2016
ENTREPRENEURSHIP REVIEW
Data
•
•
•
•
Origin
ORIGIN OF THE STARTUP: International ORIGIN OF THE STARTUP: Spain
Winners South Summit 2015
Finalists 2016
THE ENTREPRENEUR
Entrepreneur profile
MOTIVATION
TYPE OF PROJECTS
TARGET MARKETS OF THE STARTUPS
NEEDS AND RESOURCES
Money, Talent and Technology
WOMEN IN STARTUPS
BUILDING AN ECOFRIENDLY STARTUP SYSTEM
Regulatory areas to improve
FINAL CONSIDERATIONS
1. THE ENTREPRENEUR
THE SPANISH ENTREPRENEUR IS NOW PLAYING IN THE PREMIER LEAGUE PROFILE OF A SPANISH ENTREPRENEUR :
• Male
• 34 years old
• University level education (97%)
• Engineer (45%)
• Recurring entreprenuer. (51% have created more than 1 startup previously)
El emprendedor El emprendedor The entrepreneur
AGE
El emprendedor
9%
42%
33%
13%
2%
7%
54%
28%
7% 4%
13%
54%
21%
9%
2%
0%
10%
20%
30%
40%
50%
60%
18 - 24 25 - 34 35 - 44 45 - 54 >55
Spain
Europe
LATAM
Average Founder´s Age: 34
The entrepreneur
AGE. SPAIN 2014 - 2016
El emprendedor
6%
36%
44%
11%
3%
8%
44%
34%
11%
3%
9%
42%
33%
13%
2%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
18-24 25-34 35-44 45-54 More than 55
201420152016
Similar evolution vs. 2015 and in line with Europe y Latam
The entrepreneur
17% 83% 16% 84% 16% 84%
El emprendedor
GENDER Percentage of Women
Founders remains at 17%. More needs to be done!
The entrepreneur
El emprendedor
GENDER. SPAIN 2014 - 2016
81%
19%
83%
17%
83%
17%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Man Women
201420152016
19% 81% 17% 83% 17% 83%
The entrepreneur
El emprendedor EDUCATION
El emprendedor
Startup is INNOVATION and therefore, EDUCATION. 45% of Founders are
Engineering Graduates
The entrepreneur
El emprendedor
El emprendedor
90%
10%
95%
5%
97%
3%
0%
20%
40%
60%
80%
100%
120%
Univesity Education- Postgrade Highschool Education - FP
2014
2015
2016
EDUCATION. SPAIN 2014 - 2016
Constant evolution with slight increases
The entrepreneur
56%
30%
11%
2% 1%
55%
30%
9%
2% 4%
49%
32%
15%
3% 1%
0%
10%
20%
30%
40%
50%
60%
Employed Entrepreneur Student Other Unemployed
Spain
Europe
LATAM
PREVIOUS WORK SITUATION
The entrepreneurship is a decision, not a necessity. Only 1% were
unemployed before launching a Startup.
The entrepreneur
57%
29%
10%
3% 1%
56%
30%
11%
2% 1%
0%
10%
20%
30%
40%
50%
60%
Employed Entrepreneur Student Other Unemployed
2015
2016
PREVIOUS WORK SITUATION. SPAIN 2014-2016
The entrepreneur
52% 48%
IS THIS YOUR FIRST STARTUP? More than the half have created a Startup before!
51%
First Startup I have undertaken before
The entrepreneur
52% 48%
63%
37%
49% 51% 49% 51%
0%
10%
20%
30%
40%
50%
60%
70%
It's my first startup I have undertaken before
201420152016
IS THIS YOUR FIRST STARTUP?. SPAIN 2014-2016 Ongoing evolution in terms of the maturity of Entrepreneurs
in Spain
The entrepreneur
50%
27%
15%
3% 5%
46%
27%
11% 11%
5%
37%
27%
22%
9% 5%
0%
10%
20%
30%
40%
50%
60%
1 2 3 4 5+
Spain
Europe
LATAM
NUMBER OF STARTUPS LAUNCHED BEFORE
5% of Founders have launched more than 5 Startups
The entrepreneur
2. MOTIVATION
62%
19% 19%
1%
68%
18% 13%
1%
70%
17%
10% 3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
I always wanted to bean Entrepreneur
I joined a project that Ibelieved in
I wanted to change myprofessional life
I was unemployed
Spain
Europe
LATAM
CIRCUMSTANCES BEFORE STARTING A
STARTUP
Entrepreneurship is a decision, not a necessity. Only 1% has been
previously unemployed.
Motivation
61%
20% 18%
1%
62%
19% 19%
1% 0%
10%
20%
30%
40%
50%
60%
70%
I always wanted to bean Entrepreneur
I joined a project that Ibelieved in
I wanted to change myprofessional life
I was unemployed
2015
2016
CIRCUMSTANCES BEFORE STARTING A
STARTUP. SPAIN 2015 - 2016 Circumstances leading people to create a Startup unchanged year
on year
Motivation
59%
20% 19%
1%
71%
16% 12%
1% 0%
10%
20%
30%
40%
50%
60%
70%
80%
I always wanted to bean Entrepreneur
I joined a project that Ibelieved in
I wanted to change myprofessional life
I was unemployed
First Startup
Recurringentrepreneur
CIRCUMSTANCES: ENTREPRENEUR BY FIRST TIME AND RECURRING ENTREPRENEUR
Motivation
62%
38%
63%
38%
66%
34%
0%
10%
20%
30%
40%
50%
60%
70%
Yes No
Spain
Europe
LATAM
DID YOU HAVE A PREVIOUS
STARTUP THAT FAILED?
26%
74%
37%
63%
34%
66%
Yes No
HAVE YOU PREVIOUSLY
SOLD A STARTUP?
62% of Founders have failed previously and 1 out of 4 have previously sold a Startup. Is selling synonymous with having had a successful startup and
failure synonymous with learning for your next one?
Motivation
3. WHAT KIND OF PROJECTS
STARTUP PROFILE
Projects
CATEGORY
Most startups are in early stage of development. Only 17% consider themselves at the Growth stage.
Projects
YEAR OF CREATION 50% of projects have been going for between 1 and 3
years
Projects
YEAR OF CREATION. SPAIN 2015 - 2016 Favorable evolution towards more projects with a greater
level of maturity
Projects
ACTUAL REVENUE 2015 / ESTIMATED REVENUE 2016 – SPAIN
54%
30%
7%
5%
2%
2%
0,35%
23%
29%
26%
18%
7%
4%
1,51%
0% 10% 20% 30% 40% 50% 60%
No Revenue
< 50.000 €
50.000 € - 150.000 €
150.000 € - 500.000 €
500.000 € - 1.000.000 €
1.000.000 € - 5.000.000 €
> 5.000.000 €
Estimated
Actual
Entrepreneurs are increasingly ambitious: Number of Startups that expect to bill between 150.000
And 500.000 euros is triple the number who billed that figure in 2015
Projects
NUMBER OF EMPLOYEES Startup continue to generate
Employment
Projects
NUMBER OF EMPLOYEES. SPAIN 2014 - 2016
21% of Startups have a team of 5 to 10 employees, 5% more than last year
Projects
4. TARGET MARKETS OF THE
STARTUPS
0% 2% 4% 6% 8%
Telecommunication 15.
IoT/IoE & Sensors 14.
Social Impact 13.
Media & Communications 12.
Big Data & Analytics 11.
Fashion 10.
Social Networking 9.
Fintech, Banking & Legal 8.
Food & Beverages 7.
Advertising & Marketing 6.
Travel & Transportation 5.
Health & Med Tech 4.
Business & Productivity Services 3.
Consumer / E-commerce 2.
Education 1.
Industries 2016
*Top 15 industries with the most Startups registered
Target markets for Startups
TOP RANKING SEGMENTS 2016 TOP RANKING SEGMENTS 2015
1. Consumer / E-commerce
2. Business & Productivity Services
3. Education
4. Travel & Transportation
5. Social Networking
6. Health & Med Tech
7. Media & Communications
8. Advertising & Marketing
9. Big Data & Analytics
10. Fashion
11. Fintech, Banking & Legal
12. Sports, Quantified Self & Recreation
13. Telecommunication
14. Food & Beverages
15. Gaming & Virtual World
Startups change respond quickly to changes in Market focus.
60%
53%
38%
8%
65%
45% 42%
9%
59%
52%
40%
12%
0%
10%
20%
30%
40%
50%
60%
70%
B2B B2C B2B2C B2G
Spain
Europa
LATAM
CUSTOMER TYPE Startups create most of
products and services for the industries (B2B). Fewer startups
are focusing on B2C
Target markets for Startups
49%
42%
28%
11% 14%
22%
37%
53%
41%
12% 11% 14%
56%
51%
23%
12% 8%
19%
0%
10%
20%
30%
40%
50%
60%
Services Software Saas Hardware Other Physical productor material
Spain
Europe
LATAM
TYPE OF PRODUCTS AND SERVICES In Spain most Startups focus on Services, where as in Software
is king in the rest of Europe.
Target markets for Startups
5. NEEDS AND RESOURCES:
MONEY, TALENT AND
TECHNOLOGY
15% 54%
27%
14%
4% 1%
53%
21% 24%
1% 1%
57%
24%
16%
3% 1%
0%
10%
20%
30%
40%
50%
60%
Own Family and friends Private funds Bank credits Crowdfunding
Spain
Europe
LATAM
FIRST SOURCE OF FINANCING
Needs and resources
More than half of entrepreneurs rely on their own resources to get started.
15% 61%
22%
12%
5%
58%
26%
12%
3% 1%
54%
27%
14%
4% 1%
0%
10%
20%
30%
40%
50%
60%
70%
Own Friends & Family Private Funding Bank Credit Crowdfunding
2014 2015 2016
FIRST SOURCE OF FINANCING– SPAIN 2014 -2016
Ongoing maturation in terms of the Financing model, as it gets more sophisticated. Spain advancing in Private funding but still has long way to go, in comparison to Europe. (14% vs 24%)
Needs and resources
15%
14% 14%
43%
15%
9%
4% 6%
7%
36%
23% 22%
7%
25%
16%
38%
10% 9%
2%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Spain
Europe
LATAM
FUNDING REQUESTS
Needs and resources
15%
28%
43%
14% 11%
4%
15%
18%
40%
16%
7%
4%
14% 14%
43%
15%
9%
4%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
2014
2015
2016
FUNDING REQUESTS. SPAIN 2014 - 2016
Needs and resources
15% 13%
42%
14% 11%
4% 9% 9%
43%
18% 16%
5% 5%
12%
30%
24% 24%
5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0 - 50.000 € 50.000 - 100.000 € 100.000 - 500.000 € 500.000 - 1.000.000 € 1.000.000 - 3.000.000 € + 3.000.000 €
1
2 a 3
4+
FUNDING REQUESTS VS NUMBER OF LAUNCHED STARTUPS
Level of Funding Startups are looking for, increases in line with the number of Startups
previously launched
Needs and resources
40%
31%
24% 26% 22%
20%
11% 14%
5%
52%
24% 27%
25%
16%
29%
5%
11%
5%
43%
26%
21%
17%
25% 25%
16%
21%
8%
0%
10%
20%
30%
40%
50%
60%
Spain
Europe
LATAM
INCOME MODEL
Direct Income models are more prevalent than Indirect Income models
Needs and resources
15% 49%
47%
41%
25%
16% 16% 14% 14%
8%
4% 3% 1%
45% 44%
33%
28%
21%
17% 15%
20%
10%
2% 2% 1%
43%
46% 49%
27%
17% 19%
21% 23%
10% 8%
4% 2%
0%
10%
20%
30%
40%
50%
60%
Spain
Europa
LATAM
Business Development Sales, Sales, Sales!!!
REQUESTED PROFILES
Needs and resources
6. WOMEN IN STARTUPS
• Startups with female founders fail less than those with only male founders. Only 48%
vs 66% of males. • Female Founders are more conservative when it come to managing their own
resources.
• They tend to be less risk adverse with the amount of financing they ask for. 54% of Female led Startups received funding of between 50000 to 500000 EUR vs 44% of Male led Startups.
• They are more cautious when estimating their gross income. 30% of them estimate
they will make less than 50.000 euros this coming year.
¿¿HOW TO CONVINCE WOMEN THAT IS WORTH IT??
• 23% of Female Founders became Entreprenuers in order to change their career path against 15% of male founders.
ONLY 17% BUT SYNONYMOUS OF SUCCESS
Female Entrepreneurs
* Based on Global Dataset
52% 48%
66%
34%
46%
54% 53%
47%
0%
10%
20%
30%
40%
50%
60%
70%
No Yes
Female
Male
Mixed team
¿ IS THIS YOUR FIRST STARTUP?
Women in Startups
52% 48%
¿HOW MANY STARTUPS HAVE YOU HAD BEFORE?
55%
26%
6% 6% 6%
44%
27%
18%
6% 5%
56%
30%
8%
1%
6%
0%
10%
20%
30%
40%
50%
60%
1 2 3 4 5+
Female
Male
Mixed team
Women in Startups
52% 48%
¿DID ANY OF THOSE FAIL?
48% 52%
66%
34%
60%
40%
0%
10%
20%
30%
40%
50%
60%
70%
Sí No
Female
Male
Mixed team
Women in Startups
41%
26% 28%
3% 1%
49%
20%
24%
4% 2% 1%
53%
18%
23%
4%
1%
0%
10%
20%
30%
40%
50%
60%
Female
Male
Mixed
INVESTMENT ROUNDS
Women in Startups
60%
24%
8% 5%
4%
53%
31%
14%
2% 1%
57%
30%
10%
3%
0%
10%
20%
30%
40%
50%
60%
70%
Employed Entrepreneur Student Other Unemployed
Female
Male
Mixto
PREVIOUS WORK SITUATION
Women in Startups
80%
15%
5%
81%
15%
4%
83%
14%
3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
I saw an opportunity Entrepreneur spirit Out of necessity
Female
Male
Mixed
REASONS THAT LEAD YOU TO START A STARTUP
Women in Startups
56%
18%
23%
3%
67%
17% 15%
1%
61%
23%
15%
1% 0%
10%
20%
30%
40%
50%
60%
70%
80%
I always wanted to be anentrepreneur
I joined a project inwhich believed
I wanted to turn myprofessional life
I was unemployed
Female
Male
Mixed
CIRCUMSTANCES BEFORE FOUNDING A STARTUP
Women in Startups
7. HOW TO CREATE A STARTUP
FRIENDLY ECOSYSTEM
73% 70%
41% 41%
15% 14%
12%
6% 5%
60%
79%
40%
34%
18%
8% 10%
6% 8%
58%
77%
41%
26%
20% 22%
13%
8% 5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Taxation forStartups
Access tofunding
Tax benefitsfor investors
Hiring flexibility Entrepreneurvisa/talent
More beneficialregulation forCrowdfunding
Stock options Ease ofextinction ofthe company
Other
Spain
Europa
LATAM
REGULATION AREAS THAT NEEDS IMPROVEMENT
To a ecosistem Startup Friendly
The government has fundamental role to play in the consolidation of the startup ecosystem.
Entrepreneurs are seeking: Reduction in tax rates for startups, facilitate the access to economic funds, fiscal benefits and flexibility in hiring.
8. FINAL THOUGHTS
Final Thoughts
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