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Investment in Spain has been (traditionally) far away from technology. Starting a company in Spain is not easy and people are generally looking for a stable job, they don't want to take the risk of starting a new company.

In my opinion, Spain doesn't have (in general) the culture of the entrepreneur even though some cities (like Barcelona) are trying to change it (22@, for example: http://www.22barcelona.com/index.php?lang=en).

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Agree here; it's very painful to find people with an entrepreneur mindset in Spain. Even if you find someone who says he/she is an entrepreneur, usually they are very far removed from it compared to other countries; very little to no risk taking, always that hang to stability in income and living situation. Comfort over anything else.

On the other hand, this does open opportunities; Spain has one of the highest unemployment % of the world because of this; people want stable jobs and they want them provided on a silver platter, but there really is not too little work. If you open a company, on your own or with other people (foreigners included), there is tons of work for people who want to work. And then this unwillingness to take (even very small) risks, is a competitive advantage.

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