Spain is starting the process of transitioning towards a greener economy. This is a long-term project with a clear need for innovative and forward-thinking solutions across a multitude of sectors. Due to the wide-ranging technological expertise of the Oulu ICT ecosystem, there are plenty of opportunities for member businesses to showcase themselves and find customers in a new and diverse market that is competitive but has enormous potential for growth.
How Spain plans to be sustainable
According to the Europe Sustainable Development Report 2021, Spain ranks 21st in Europe when it comes to reaching the sustainable development goals. This means there is room for improvement, which provides new business opportunities for high-growth companies.
This improvement is part of a 140-billion-euro National Recovery Plan, supported by the European Union. This plan includes an unprecedented commitment to green transition (37% of the funds) and digitization (33% of the funds).
What are the key sectors for investment?
- Automotive
- Infrastructure (Ports & Railway)
- Digitization (Administration, eHealth, edTech)
- ICT (5G, cybersecurity)
- Energy (hydrogen, smart/flexible grids, energy efficiency, solar & wind)
- Water management
- Biotechnology/Pharma
Spain’s economic driving force – a case study
One example of a potentially accessible market is automotive. The Spanish car sector is a major contributor to Spain’s economy; it’s the second-largest auto manufacturer in Europe and the eighth largest in the world. According to Instituto de Comercio Exterior (ICEX), there are several key sectors for investment:
- Industry 4.0 (the digital transformation of manufacturing/production and related industries and value creation processes)
- Digitization
- Vehicle lightening (sustainable materials reducing the mass of the vehicle for CO2 improvement)
- Recycling in the automotive industry
- Safety and connectivity
- New propulsion systems and energy storage batteries
The Oulu region’s know-how and competence in areas such as Industry 4.0, wireless antenna testing and simulation, sustainable materials promoting to lightening of vehicle mass weight and recycling process, can help the traditional automotive ecosystems in their strategic development projects.
It is very important to gain visibility and understand what and how companies are going to undertake their projects linked to EU funds. The moment for Nordic countries to look for partnerships is right now.
Ms Sari Rautio, Ambassador of Finland to Spain
Interested in expanding into the Spanish market?
- Fill in a Spanish market survey. The more specific you are in your answers, the better. Additionally, you can name your dream customer.