AGP Executive Report

Spain Tech & Trade Mission: Economy Vice President Carlos Cuerpo is in San Francisco to strengthen Spain’s ties with Silicon Valley, including an ICEX entrepreneurship forum, meetings with Google/Alphabet counsel Kent Walker, and visits to Scale AI and Nvidia, plus a new Spain Economic and Commercial Office in the city. AI Startup Funding Focus: At South Summit Madrid, investor Kim Perell says startup investing still hinges on fundamentals—market size, team quality, differentiation, and scalability—urging founders to adapt and pivot. Circular Economy Push (Spain-linked): GR3N has closed a €15.5M Series B to build a microwave-assisted PET recycling plant in Spain, aiming to tackle the “unrecyclable” PET share that mechanical recycling can’t handle. Electric Mobility Partnership: Barcelona’s Stark Future and EVE Energy deepen their performance partnership for 2026 off-road electric motorcycle racing and battery development. SME/Market Expansion Angle: EVE Energy and Stark Future’s collaboration and GR3N’s plant both point to more investment flowing into product-led, tech-enabled growth for smaller operators and suppliers.

AI Adoption in Spain: A new AWS study says 61% of Spanish companies already use AI (up 11 points year-on-year), with 81% reporting productivity gains and 89% expecting growth from AI—though most are still stuck on basic uses like chatbots. Royal Tech & Startups: King Felipe VI visited South Summit Madrid 2026, backing AI startups and prototypes and spotlighting the “AI Adoption & Convergence” push. Startup Investing Basics: At South Summit, investor Kim Perell told founders to stick to fundamentals—market size, team, differentiation and scalability—and be ready to pivot. Green Hydrogen Leadership: Navantia Seanergies director Javier Herrador was named president of SHYNE, Spain’s hydrogen network, as the sector ramps up mobility-focused projects. Health Biotech Funding (Spain): Barcelona biotech Ona Therapeutics raised $86.6M Series B to advance antibody-drug conjugates for treatment-resistant breast and colorectal cancers. Energy & Electrification: EVE Energy and Stark Future deepened their Barcelona-based electric motorcycle partnership to push battery tech and race performance. Circular Materials in Spain: GR3N closed a €15.5M Series B to build a microwave-assisted PET recycling plant in Spain. SME-Ready Compliance Training: ISN and Safety Function expanded energy-based safety training access via ISNetworld’s LMS, with thousands of courses already assigned. E-commerce/Logistics Jobs: Amazon pledged €10B for Europe to expand and modernise warehouses and delivery, including more robotics and automation.

South Summit Madrid 2026: King Felipe VI visited the event’s AI “Startup Competition” and forums, backing Spain’s push to turn AI prototypes into investor-ready businesses. AI Adoption in Spain: AWS Summit Madrid data shows 61% of Spanish companies already use AI (up 11 points), but most are still stuck in basic uses like chatbots, with only 17% doing advanced, multi-model or agent-style deployments. Green Hydrogen Leadership: Navantia Seanergies’ Javier Herrador was named president of SHYNE, aiming to accelerate Spain’s renewable hydrogen roadmap via mobility-focused pilot projects and a wider industry network. E-commerce Ops M&A: CommerceClarity acquired Barcelona’s Katalogo.ai to strengthen AI-powered product catalogue enrichment and validation for retailers and brands. Funding for Spanish biotech: Ona Therapeutics (Barcelona) closed an oversubscribed $86.6m Series B to advance two antibody-drug conjugates into clinical development. Warehouse automation investment: Amazon pledged €10bn for Europe, including robotics and upgrades across fulfilment centres, with Spain among countries in its network.

Funding & Scaleups: Barcelona biotech Ona Therapeutics closed an oversubscribed $86.6m Series B to push two first-in-class antibody-drug conjugates (ONA-255 for breast cancer and ONA-389 for colorectal) into clinical development. AI for SMB Operations: CommerceClarity, an AI agent platform for retail catalogue operations, acquired Barcelona’s Katalogo.ai; the deal brings Katalogo.ai founder Luca Cozzolino in as Chief Product Officer and aims to help brands manage product data quality across e-commerce channels. VC Spotlight: Barcelona HR-to-AI workforce platform Factorial raised a $150m Series D at a $2.5bn valuation, led by General Catalyst, to expand its AI agent approach for HR, finance and IT workflows across 90+ countries. Startup Ecosystem: South Summit opened in Madrid with a push for a Europe-wide market for startups, arguing “AI is not a threat” and calling for fewer barriers to scaling across borders. Energy & Infrastructure: Spain’s Turbo Energy updated its Nasdaq compliance progress after strengthening equity via 2026 fundraising, positioning itself as an AI-driven solar storage and energy management integrator.

AI & Startups in Madrid: South Summit 2026 opened in Madrid with a clear message for SMEs and founders: AI is “not a threat” but a growth tool, and Europe should cut barriers so startups don’t feel forced to relocate across “27 borders.” Public-sector AI governance: Spain says it’s boosting its role in frontier AI oversight after joining Project Glasswing, where Anthropic’s Claude Mythos Preview is being tested by new organizations across 15+ countries. Funding for Spanish AI scaleups: Barcelona HR-to-AI platform Factorial secured a $150m Series D at a $2.5bn valuation, led by General Catalyst, as it expands its AI workforce operations across 90 countries. Local business & community services: In Valencia, Turbo Energy updated its Nasdaq compliance progress after strengthening its balance sheet, while in Spain’s broader SME ecosystem Percepta is expanding with a new Valencia site.

AI Governance: Spain says it’s pleased to be part of Anthropic’s Project Glasswing, after access to Claude Mythos Preview expanded to ~150 new organisations across 15+ countries—positioning Spain as a key voice in frontier AI rules. Healthcare Labor: Spain’s Health Ministry unveiled a new Framework Statute for doctors despite union protests, but medical unions warn talks still lack concrete fixes on working hours, pay rules and a separate negotiation status. Energy Bills & SME Costs: Labour Minister Yolanda Díaz urges Spain to reinstate support to curb electricity and gas pressure, including lower taxes and rent-rise limits, arguing inflation is still squeezing households and businesses. Local Retail Support: Seville postponed the launch of 57,500 municipal shopping vouchers after a website glitch, rescheduling sales for tomorrow while keeping terms unchanged to back local small stores. SME Tech & Hiring: Percepta opened a new Valencia service center to expand AI-enabled, multilingual customer support for automotive brands. Startup Funding (Spain): Barcelona’s Zazume raised €2.5m to scale its AI rental-management platform, targeting growth via property-management portfolio acquisitions in provincial capitals.

AI Governance: Spain says it’s boosting its role in frontier AI regulation after being invited to test Anthropic’s Claude Mythos via “Project Glasswing,” expanding access to around 150 new organizations across 15+ countries. Healthcare Labor: Spain’s doctors’ unions warn a fifth strike is likely to keep disrupting outpatient care, tests and non-urgent procedures, with delays piling up even as minimum services remain. SME Costs & Housing: Labour Minister Yolanda Díaz urges a return of anti-inflation household support, including rent-rise limits (capping annual increases at 2%) and restored lower VAT/taxes on electricity and gas, arguing wage growth isn’t keeping up. Local Retail Tech: Seville postponed the launch of 57,500 municipal trade vouchers due to a website glitch, rescheduling sales for tomorrow while keeping voucher terms unchanged to support local small businesses. AI & Startups (Spain): Barcelona’s Zazume raised €2.5m to scale its AI rental management platform, targeting portfolio acquisitions in provincial capitals. Energy Investment: EIB and Ingeteam signed a €75m loan for R&D in advanced renewables and electrification tech, including grid cybersecurity and photovoltaic inverters. Madrid Mobility: WeRide and Uber plan Spain’s first commercial robotaxi pilot in Madrid, with rides via the Uber app later this year.

Robotaxi rollout in Madrid: WeRide and Uber plan Spain’s first commercial robotaxi pilot in the Madrid region, with rides via the Uber app later this year and fleet scaling alongside AVOMO and local government support. SME tech for missed calls: NexusCall AI is pitching an always-on AI receptionist for local service businesses, claiming it can recover large revenue losses from unanswered calls by booking appointments and qualifying leads. Cyber skills push in Europe: EU-iNSPIRE launches a four-year, multi-partner cybersecurity education effort aimed at upskilling and reskilling the workforce across the EU, with an SME consortium partner based in Dublin. Quantum computing in Barcelona: EuroHPC JU inaugurated EuroQCS-Spain in Barcelona, integrating an analogue quantum system into MareNostrum 5 to give researchers and industry access to hybrid classical–quantum work. Solar O&M automation debate: Two European AI firms are diverging on how much to automate utility-scale solar operations, with one keeping humans in execution and the other extending into field actions. SME succession market watch: A new European analysis argues the 2026 succession wave may favor buyers over sellers as deal multiples soften.

SME Compliance Vetting: Next Step Filings released a four-point Trust Standard to help small business owners spot “filing mills” and verify compliance providers before paying for state filings. AI for Security Operations: PatrolTech says it digitizes security and concierge round traceability with time, location, and multimedia logs, aiming to cut serious incidents in residential settings. Payments Simplified for Cross-Border SMEs: Spondula opened an invite-only beta for global payments using simple “S-Handle” usernames instead of bank details. Spanish Retail Watch: Inditex’s Zara India venture (with Trent) reported FY26 revenue down 1.2%, its weakest since the pandemic, as competition rises. Public Healthcare Mobilization (Madrid): Madrid neighborhood groups plan another Sunday march against privatizing healthcare, pushing for a public, quality system. Local Business Finance Support: Cuentas Claras highlights bilingual bookkeeping and advisory for Spanish-speaking small businesses, while Zacosta Bookkeeping expands client intake with flat-rate monthly services. Tech Funding in Spain: Barcelona’s Mafer AI raised €2m to build an AI operating system for R&D teams in formulation industries. Space Investment with SME Spillover: Spanish PLD Space pledged €35m to expand its European launch complex in French Guiana, with €13m earmarked for 20+ local SMEs.

Accounting & SMB Recognition: Cuentas Claras was named Lincoln’s Choice Best Accounting Firm for 2026, highlighting bilingual (English/Spanish) bookkeeping, payroll, tax prep and advisory aimed at helping small businesses understand their finances. Home Security for Households & Small Operators: A guide pushes “safe and simple” alarm systems in Spain—easy setup, clear alerts, and reliable support—arguing complexity leads to user mistakes. Madrid Public Services Protest: Madrid’s neighborhood platform is organizing another Sunday march defending public healthcare and opposing a privatizing model backed by the PP-led administration. Travel & Retail Pressure: Inditex’s Zara saw its India business stagnate, with FY26 net sales down 1% and the weakest India performance since the pandemic, underscoring tougher competition for fashion SMEs and retailers. Local Healthcare Access Tech: Tanner Health went live with Hyro’s bilingual AI voice assistant (“Clara”) to reduce call queues and handle appointment and prescription tasks—an SMB-relevant playbook for cutting admin load. Housing/Short-Term Rental Risk: A lawsuit claims a robotics startup used a rental property for unauthorized prototype testing and filming, raising concerns for landlords and small property operators.

Public Healthcare Protest in Madrid: Madrid residents are set to march again this Sunday to defend public healthcare and oppose a privatizing model backed by the PP-led administration, with four columns converging at Plaza de Cibeles under the “Saving our Public Healthcare is Saving Us All” banner. Retail Pressure & Brand Watch: Inditex’s Zara business in India is reported to have hit its weakest performance since the pandemic, with net sales down 1% in FY26 and stagnation in the joint venture’s revenue. Local Business & Community Support: A Barcelona-based Mafer AI raised €2m to build an AI operating system for R&D teams, while Spain’s digital voucher push continues with Galicia rolling out “Activa Comercio” shopping vouchers to support local spending. SME Tech & Funding Signals: Spain’s startup scene also shows momentum with new AI and commerce tools aimed at helping smaller operators compete and grow.

Public Healthcare Protest: Madrid is set for another big march this Sunday defending public healthcare and pushing back against privatization, with multiple columns converging at Plaza de Cibeles. Retail Pressure on SMEs: Inditex’s Zara joint venture in India (with Tata’s Trent) reported its weakest performance since the pandemic, with FY26 net sales down 1.2%, a reminder of how fast competition is squeezing apparel operators. Local Business & Community: A nonprofit push in Colorado highlights how small venues can survive with community-backed buying—an angle that will resonate with Spain’s micro-entrepreneurs facing rising costs. Healthcare Innovation: In Barcelona, ITM reported Phase 3 COMPETE patient-reported quality-of-life results for ¹⁷⁷Lu-edotreotide at ASCO 2026, signaling continued momentum in radiopharmaceuticals. AI in Operations: A health system go-live with an AI voice assistant aims to cut call queues and hold times—useful for Spain’s service SMEs weighing automation.

AI & Jobs: Morgan Stanley warns European banks could cut up to 20% of staff as generative AI takes over repeatable back- and middle-office tasks, with Spain among the countries where labor rules may slow layoffs but not the shift. Startup Funding (Spain): Barcelona’s Mafer AI, building an AI operating system for R&D teams in formulation industries, raises €2m pre-Seed to help companies exploit their technical R&D history at scale. Local Commerce Support (Spain): Galicia rolls out “Activa Comercio” digital shopping vouchers to boost spending and keep small retailers moving. Travel & SME Demand (Spain-linked): Amadeus launches a Travel Advertising Platform aimed at helping travel brands act on demand earlier across fragmented channels—useful for smaller operators trying to cut acquisition costs. Food Innovation (Spain-linked): José Andrés partners with Wildtype to serve cultivated salmon at Barmini in Washington, highlighting how premium chefs are leaning into alternative proteins. Business Finance (Spain-linked): EIB and INBONIS sign an agreement to support access to financing for European startups and scaleups via credit ratings.

AI & Regulation: Pope Leo XIV’s new AI encyclical frames artificial intelligence as a worker- and human-control issue, echoing Europe’s push for a “robust legal framework” while sparking mixed reactions from US tech leaders. Startup Funding (Barcelona): Mafer AI, a Barcelona-based AI operating system for R&D teams in formulation industries, raises €2m pre-Seed to speed up how companies turn technical R&D history into market-ready formulas. SME Finance & Housing (Spain): Hipoges puts 700+ homes across Spain up for sale (over €69m total), targeting first-home buyers and investors looking beyond major cities. Local Business & Community (Spain): Bars and restaurants across Spain rush to avoid new €50,000 kitchen fines, a fresh compliance headache for small operators. Tech for R&D (Spain): Mafer AI’s funding also highlights how Spanish SMEs are leaning into AI to cut development cycles and improve competitiveness.

Funding for Spanish AI startups: Barcelona’s Mafer AI has raised €2m in a pre-Seed to build an AI operating system for R&D teams in formulation industries, backed by Kfund, 4Founders Capital and Puig’s Lavanda Ventures. SME housing supply: Hipoges is putting 700+ homes across Spain up for sale (over €69m total value) until June 25, aiming to boost access to first homes and second residences outside big cities. Food and tech for business: José Andrés’ Barmini in Washington, DC will start serving Wildtype’s cultivated salmon from June 3, a sign of how premium hospitality is testing new food supply models. Recovery funding watch: Spain’s Economy minister says the European Commission is finishing its review of the sixth recovery-funds disbursement (about €6.5bn net), with validation expected in coming weeks. Local agrifoodtech pressure: A report highlights how Spanish citrus co-ops are struggling with agronomist workload as monitoring and compliance demands rise. Disaster-hit small firms (US, cautionary): After Garden Grove’s chemical tank scare, some businesses report major losses and unclear reimbursement timelines.

Recovery Funds Watch: Spain’s Economy Minister Carlos Cuerpo says the European Commission is finishing its review of the sixth recovery-plan payment (about €6.5bn net) and expects validation “in the coming weeks,” with another 80 milestones likely to be signed off. Housing Supply Push: Hipoges has listed 700+ homes for sale across Spain (value over €69m), with 70% concentrated in Catalonia, Andalusia, Valencia, Castilla-La Mancha and Murcia; the campaign runs until June 25. Digital Sovereignty for SMEs: Telefónica Tech and Google Cloud are rolling out a “sovereign cloud” option for Spanish public administrations and regulated firms, positioning Telefónica as a trusted sovereignty partner for data controls in Spain. Green Tech & Logistics: A roundup of May innovations highlights alternatives to plastic, tequila-waste biomaterials, and new infrastructure to electrify trucks at logistics hubs. Local Business Impact: A chemical-tank overheating incident in Garden Grove left many small businesses facing losses after forced closures, with residents still dealing with the fallout. AI in the Spotlight: A debate piece questions whether football “biohacking” is real performance science or just commercial hype.