The Barcelona City Council is going to invest 10 million euros in six private venture capital funds with the aim of promoting the most innovative startups in the city and maintaining the competitiveness of the entrepreneurial and digital ecosystem that now has to face the effects of the coronavirus .
According to a joint communication from the City Council and Barcelona Activa, the purpose of this initiative is to triple, at least, the ten million through venture capital companies with investments destined for emerging companies in the Barcelona Metropolitan Area and boost the economy in a moment critical as the current one. The funds will be required, in addition to having their headquarters in the city, an amount equivalent to that invested in companies led by women and that are companies belonging to the strategic sectors contemplated in the Barcelona Green Deal
that they are companies in the strategic sectors included in the Barcelona Green Deal, an amount equivalent to that invested in companies led by women.
This is the municipal priority ‘Barcelona Digital and Entrepreneurial Capital’, included in the set of new instruments that have been promoted by the Center for the Coordination of Economic Response (CECORE). This initiative, managed by Barcelona Activa, is called Barcelona Acelera. It works to accompany the startup sector on the road to recovery and growth, as an engine of innovation, attracting creative talent, foreign investment and allowing Barcelona to position itself in the eyes of the world.
Similar measures have been implemented urgently in other European countries, including with state policies. In the case of Barcelona, the local administration is a pioneer in this field and takes advantage of the experience of the past, when the Barcelona Emprende company was launched (2000), and later (2009), with the participation in the fund Nauta III from the manager Nauta Capital.
At the moment, in Catalonia there are more than 1,500 startups, 77.5% of which are located in the Metropolitan Area of Barcelona, the majority in Barcelonès (64.6%). These companies employ more than 16,900 people and, in the last five years, have attracted almost 2,800 million euros of private investment.