Local ‘startup’ and investor laws accelerate a year-long shift in Malaga’s technology

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50% reduction on investment in the first five years, reduction of corporate tax in the first four years to 15%, tax exemption for the first 100,000 euros from investment in startups or start. They are some of benefits for young companies provided by the national project the Startup Act, a change to the rules of the game that -according to investors living in Malaga- put Spain in line with the rest of Europe, but still leaves blind spots.

As regulations change at the state level, communities currently funding projects in the Costa del Sol ecosystem are getting ready its own impetus to reverse its most classic drawback: a lack of venture capital. The newspaper has spoken to several ‘angel’ investors o business angel who put their money in a growing company to find out their impression of the new law Moncloa wants to pass and its prospects for the year to come.

Francisco Espinosa, in image file

Francisco Espinosa is the CEO of the promoter startup Inventory and one of Spain’s 100 most active ‘angel’ investors, according to a special media classification Referrer. In conversation with EL ESPAÑOL of Malaga, he developed a favorable opinion of the new law because of the progress it represents, but still leaves “a lot of things to improve”.

“It’s very positive for all of Spain, because a series of circumstances that made Malaga a center technology from southern Europe”, Espinosa landed locally.

From his point of view, the Costa del Sol ecosystem has an endemic problem that cannot be solved at the national level: “From my point of view, it is necessary to unify the investment ecosystem, produces a slightly stronger associationism to get a big investment in startup stay here. It may be necessary to avoid the transfuguismo of our project with great potential that ends up going to Madrid or Barcelona. They are less and less grateful to God.”

Stock option extension or Inventory option it was, to him, “very interesting”; while streamline bureaucratic procedures It’s “fantastic, but it will be necessary to see if it’s achieved”: “We’ve finally caught up with Europe in terms of funds, and it’s very important to attract more investment here. Every year investment records continue to be broken and 2022 is promisingEspinosa’s prediction.

However, in the definition of what is a growing company -that, therefore, the benefits of the advantages established by law- are some of the disadvantages, investor analysis: consider start for companies billing up to 5 million regardless of sector, when in e-commerce, for example, similar figures can be achieved while still in the early stages, or only apply to a maximum of three projects per person, when facilities are sought at the same time for serial entrepreneurs.

From his analysis the ecosystem itself has a responsibility to itself to attract this investment regardless of the national panorama, Espinosa is already working in a business club called Top Club in the Guadalmar region and engage previous generations of successful entrepreneurs so that they also finance new promotional projects. Your prediction is that The next 5 or 10 years will be “amazing for Malaga”.

Investor 'angel' Jesús Alonso Gallo

Investor ‘angel’ Jesús Alonso Gallo

Jesus Alonso This is the latest addition to Malaga’s tech ecosystem. In a welcoming ceremony organized by Demium, he predicted that things would happen in the province of Andalusia “that will not happen in Madrid, nor in Valencia, nor in Bilbao.” Explain to this newspaper that the new rules “set things clear and necessary”, which puts us “at least, on the same occasion as Great Britain, France, or Germany”.

“The cons are still the pending points which not contemplated and should be revisited in the future“Raises Alonso, who agrees that the benefits should also apply to serial entrepreneurs who launch more than three companies:” It’s always the same: put investment first, help make things easier, open doors, remove regulations, simplify everything,” he concludes.

The end goal is to “make them open a start in Spanish as easy and fast as in English, very clear and simple for a businessman memorize the risks and the help you will receive if launched, that any foreign investor can invest in startup A Spanish company with the same speed, ease and zero requirements as any national investor and finally that the rules of the game are clear and unaltered by political ups and downs. “That Spain is” a paradise for entrepreneurship “is “state mission”, defended, then put Ireland as an example.

lvaro Villacorta, in image file

lvaro Villacorta, in image file


To lvaro Villacorta, managing partner of Think Bigger Capital, the law startup came to “solve the crazy problem at hand”, for example, in talent retention and investment facilities, but that also wasn’t entirely successful: “Is the law a fix? Yes, and it should be appreciated, but still half way and off the course doesn’t put us at the forefront in any way“.

From the analysis, it is positive that the consideration startup for companies up to five years, that foreign investors do not need more than NIF to put money in Spanish projects or the reduction base was increased from 60,000 to 10,000 euros. But it also has drawbacks.

“The law must take into account that it will be easy to create jobs, the initial capital of the first year is spent paying for the first person to join the team. If things don’t go well, the law says nothing about how to collect cables. The law doesn’t allow you to be too hasty, when entrepreneurs need to push themselves to the limit to get ahead,” Villacorta countered.

He is also working for Malaga to earn his place on the national and international investment circuit on his own and plans a training project at the Andalusian level to teach the secrets of startup financing. The regulatory framework will take a step forward to facilitate investment and perhaps, with encouragement from the project itself to create a venture capital school in Malaga, center of the Costa del Sol could slam the door in 2022 for its ultimate bogeyman.

Matt Thompson

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