Infographic: How To Start Your Startup In Madrid

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The climate is not the only thing that's hot in Spain's capital, Madrid - so is its entrepreneurial scene! Check out our infographic on how to found your startup in this southern startup hub!

Read the full Madrid Startup City Guide!

We’re going to jump right into it by asking you the most powerful question there is: Why Madrid? Spain’s capital is in continuous movement, improving infrastructures like airports and subway, opening new startup initiatives like Madrid Startup House and Google School for Entrepreneurs to strengthen the city’s entrepreneurial environment along with its talent. Madrid is a great place to live, work, and have a good time.

Madrid’s Pros & Cons

There’re two ways you’re able to afford Madrid: you can live on 1500€ a month or survive it with 900€. A beer is around 1€, including a free Tapa. Public transportation is also relatively cheap, ranging from 12,50€ for 10 tickets (bus & metro) to 54,60€ for a monthly ticket.

The startup movement has grown a lot within the past two years, and Madrid hosts many startup events like Guiripreneurs, Internations, or Zink Shower. The talent this entrepreneurial scene thrives on does not exclusively come from Spain but also Latin America, bringing fresh thoughts and new perspectives to the table. An additional factor that plays into founder’s hands is the low price for co-working spaces. But don’t be afraid, cheap office space doesn’t equal low-quality space!

An obstacle non-Spanish speakers are still confronted with, is the lack of English-speakers in Spain and Madrid, which often is a pain, especially when it comes to dealing with bureaucracy. There’s a 21% VAT, 19% tax on personal income and 25% tax for companies in Spain and although the country has overcome an economic crisis, unemployment is still high in areas outside Madrid.

Spain’s capital is not yet in the Champions League of startups but it aspires to scale up in the coming years by launching multiple initiatives together with the promotion of Business Angel Networks and a rising economy.

Think Madrid is the perfect place to found your startup?

Infographic: How To Start Your Startup In Madrid

 

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