THE STARTUP LAW
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As part of the process of implementing the Spain as an Entrepreneurial Nation Strategy, the government is working on the draft bill for the future Law for the Promotion of the Start-up Ecosystem, known as the Start-up Law. The aim is to meet one of the traditional demands of the entrepreneurial sector. The new legislation aims to provide entrepreneurs with a legal framework that stimulates, through tax advantages and incentives, investment in new business initiatives.
The Law gives specific treatment to those emerging companies with a high potential for growth and job and wealth creation, with innovation as a fundamental element. As a fundamental instrument of Spain's Entrepreneurial Nation Strategy, the Law seeks to attract and retain entrepreneurial talent, streamline administrative procedures and provide tax and investment advantages. For the time being, the details of all these incentives are unknown.
In addition to those mentioned above, the Law sets out to achieve other important objectives
- Encourage the creation and relocation of companies in Spain.
- Streamlining administrative processes and lowering tariffs and fees.
- Attracting and retaining entrepreneurial talent.
- Bringing start-ups closer to universities and vocational training centres.
- Generate poles of attraction for entrepreneurship in rural areas and peripheral cities.
- Facilitating the participation of companies in tenders.
- Ensure the effectiveness and coherence of the state system of innovation-based entrepreneurship support.
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NOW THAT YOU HAVE READ THIS TIP, YOU SHOULD BE ABLE TO ANSWER THESE QUESTIONS:
- Do you think this is the Law we need to be an entrepreneurial nation?
- What are the needs or problems you are going to solve for your core segment?
- For each segment: What test or validation have you done to be sure they have that need?
We encourage you to do the exercise of answering them!
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