14. What is wrong with Spanish technology entrepreneurship

Why does US have a much greater number of tech start ups than Spain? Some commonly cited reasons are skills and entrepreneurial spirit. This is the myth of Silicon Valley. It no longer holds true. Spain has many high quality, highly educated individuals, and many have entrepreneurial spirit. After years of international ‘entrepreneuring’, I have concluded that the biggest difference is access to capital. US is full of family offices, angel investors and venture capitalists who will fund tech start ups. In Spain, there are very few. And funding is critical to both the success and dimension of any new business. A great Spanish idea with a hugely entrepreneurial founder will most likely not reach the mass needed to succeed globally due to lack of finance. This, I think, is because US is full of people who have made fortunes in technology. They understand tech and that investing in tech is highly profitable. In Spain, money has been made differently, and that understanding is lacking

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