“We believe that Spain has to be the European digital hub.” This is the objective for which BME, operator of all securities markets and financial systems in Spain, and EsTech, which brings together the main Spanish technological scaleups, have joined forces, which will support companies in this sector to improve their competitiveness and to boost the integration of more technology firms into the Spanish stock market.
“We need national technological champions. We need these companies to have access to capital in the most suitable way. In Spain we are in a European position that has little to envy of the large companies on the continent,” argued Miguel Ferrer, Executive VP of Strategy and Agenda Public Adigital (Spanish Association of the Digital Economy), which promotes the EsTech platform.
BME and EsTech will collaborate to “overcome the barriers that limit the growth of Spanish scaleups, and to promote the competitiveness of the markets, in line with the White Paper to promote the competitiveness of capital markets in Spain, published by BME in January,” they explain.
The Concrete measures that will be carried out through this collaboration will not be known until Novemberwhere the roadmap of the national scalability plan will be published. The connection of business networks, regulatory changes or elements of joint action with different agents to enhance the entrepreneurial environment with scale up They will be some of the legs of this strategic plan.
“The more financing vehicles companies have, the more competitive we are going to have. The more capital markets in our country are strengthened and the more they are connected to the fabrics of innovation and growth, the more competitive we are going to be,” indicated Ferrer. Álvaro Castro added in this sense that “access to financial markets can be the decisive boost for the growth of Spanish technological scaleups, since being a listed company implies recurring financing, visibility and reputation.”
The companies that are part of this project have no commitment to go public, but the objective is for interest and resources to do so to grow through this strategic collaboration. “We want EsTech companies to be the Ibex companies of the future. One of the aspirations is for the Ibex to be more technological. “We must adapt the sectoral composition of the Ibex 35, since its current composition does not reflect the general composition as a country,” Castro pointed out.
Bringing investment closer to these high-growth companies is the first step to position Spain as “a global benchmark in technological development,” they warn, and both entities agree that “Spain can be one of the countries that contributes to developing a competitive fabric.” technology-based business in Europe”. In addition, they highlight the advantage of this country due to its European connection and with Latin America.
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