Spanish Companies Recognized for Economic Transformation as Calls Grow for Scaleup Support
Spain celebrates transformative companies at the Henneo Awards while emphasizing the urgent need to support scaleups for sustained economic growth.
- • Henneo Awards honored companies like Iberdrola and Navantia for leadership in strategy and innovation.
- • Minister Elma Saiz highlighted a historic employment record linked to transformative companies.
- • Only 1 in 200 Spanish startups successfully become scaleups, limiting economic impact.
- • Experts call for policy reforms and investment incentives to support scaleup growth.
- • Supporting scaleups is critical for job creation, productivity, and international competitiveness.
Key details
The Henneo Economy and Business Awards gala, held at The Palace Hotel in Madrid, celebrated Spanish companies driving the country's economic transformation. Among the standout winners were Iberdrola, honored for "Best Business Strategy," Fundación Cibervoluntarios for "Responsible Leadership," Navantia for "Technological Innovation," and PLD Space for "Smart Business." The event, sponsored by Telefónica and Santander, highlighted the crucial role large companies play in evolving Spain's labor market and economy.
Minister of Inclusion, Social Security and Migration Elma Saiz underscored this point by noting a historic record of 21.8 million social security affiliates, attributing part of this success to the transformative efforts of these companies. Fernando de Yarza, president of Grupo Henneo, stressed businesses’ essential function as engines of economic and social progress.
Alongside recognition of established companies, experts have spotlighted the imperative need to foster scaleups — companies that grow beyond the startup phase to generate significant economic impact. A recent analysis emphasizes that while Spain boasts a vibrant startup ecosystem, only one in 200 startups successfully scale, missing out on vital growth opportunities.
The critique points to a scarcity of substantial investment capital for companies transitioning from validation stages to high-growth phases. It calls for urgent policy reforms to incentivize investment, improve tax conditions on stock options and carried interest, and encourage public procurement strategies that act as strategic partners in growth. Such measures aim to enable Spanish companies to scale effectively, creating high-value employment, boosting productivity, and attracting foreign investment.
In sum, Spain stands at a crossroads where celebrating economic transformation through established companies must be paired with strategic support for scaleups. Achieving a balanced entrepreneurial ecosystem that nurtures both innovation and expansion is seen as essential for long-term economic resilience and global competitiveness.
This article was synthesized and translated from native language sources to provide English-speaking readers with local perspectives.
