The need for speed sets the tone for the Spanish business climate

Updated: May 20

When it comes to High-Speed Technology and Infrastructure, both offline and online, Spain is serious about being in the forefront in the race for global leadership. To stay Future-Proof, Spain’s state-run railway company Renfe runs a startup incubator together with Telefonica's Wayra and the Ministry of Development.

The need for speed sets the tone for the Spanish business climate - exciting times for startups to come to Spain

Renfe's inspring and ambitious collaboration with both private and governmental key players will be part of a modernization process in the transport sector and specifically the railroad, as reported by Novobrief.

Furthermore, railway technology company Amadeus writes on their blog:

“The 2018 new high-speed lines will consolidate Spain as the longest high-speed rail network in Europe with 3,240 km. And the second longest in the world, after China.”

Hyperloop systems for cleaner and faster transportation

Spain is also one of the world leaders in renewable energies, both as a producer and as an exporter within CleanTech. In fact, back in 2013 it became the first country ever in the world to have wind power as its main source of energy.

Automotive and Energy, these two important industries are now combining their efforts and producing exciting startups like Zeleros, taking advantage of the The Hyperloop system.

Released in 2013 as open source, by a joint team from Elon Musk companies Tesla and SpaceX; “The hyperloop is a safe, fast and energy-efficient transport system for transporting large numbers of people and goods between cities, countries and across a continent”, as explained by TransPod, another expert in the field.

From top left; Hardt, Hyper Poland, Zeleros and TransPod.

Zeleros is said to minimize infrastructure costs by integrating the main technologies in an autonomous high-speed vehicle. Based in the brewing startup hub in the city of Valencia, they have just announced a global partnership with 3 other companies to create an international standard for hyperloop travel systems.

Juan Vicén, Zeleros co-founder, commented in the press release:

“We are marking the beginning of a new era in high-speed transportation, and cooperation in Hyperloop standardization is key to ensure that the whole world benefits from it.”

Internet reaching 100% of the population with a speed of 300Mb/s

To allow for the whole population to be active on the world wide web, not just in the cities and without any delay in the connection, the Spanish Administration has decided to invest €525 million over the next years to extend optic fibre to the entire country.

The ambitious plan called "300 x 100", promises a speed of 300Mb/s to 100% of the population by 2021. Already today, 75% of the Spaniards enjoy high-speed Internet access.

When 4 international startups gave their insights into an easier expansion to Spain, it was much emphasized that the key to success is forming local partnerships as well as the need to be patient as doing business takes time.

Hopefully though, if you are reading this with an interest to take your startup to Spain, you now feel encouraged that not everything is slow moving there. In fact, don't wait too long with including Spain in your roll-out plan. It's time to jump on the proverbial speed train and embrace the opportunities in one of Europe's currently most promising markets!

In closing, I feel compelled to quote a very famous movie you might have seen. ;)

“I feel the need, the need for speed!”

Did you find this interesting? Do you agree? Or disagree? I so love an interesting conversation and would love to hear your thoughts. Please do leave a comment!!

Crafted by Caroline Lagergren.

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