The rapid transformation experienced by the economy in recent years is leading to the emergence of new companies that make innovation and the digital environment the basis for the creation of products and services of high added value. Supporting and promoting this type of business is essential to improve the country’s competitiveness at a time when the commitment to technology, digitalization and innovation is already an obligation.
In this context, it should be noted that emerging companies have certain specific characteristics that make it difficult to fit them into the traditional regulatory framework:
- The high risk arising from its high innovative content - The uncertainty about the success of its business model, hinders financing in the initial phases by requiring capital to be able to mature and test its ideas before the company begins to generate income.
- The potential for exponential growth through economies of scale - Requires large capital investments to allow its rapid expansion in case of success.
- The dependence of the recruitment and retention of highly qualified and highly productive workers from the initial stages of the company - In them there is no flow of income to remunerate them through classic wage instruments.
- Exposure to strong international competition for attracting foreign capital and talent.
The draft law on the promotion of the ecosystem of emerging companies therefore seeks to respond to the main challenges faced by this type of companies.
With the aim of analysing, identifying good practices, debating public policies to promote entrepreneurship in research and development and innovation, as well as proposing improvements aimed at its growth and integration in the Community and world markets, Article 26 of the aforementioned draft law establishes that the Government will create the National Forum of Emerging Companies as a consultative and collaborative interministerial collegiate body between Public Administrations, universities, public research bodies and technology centers, emerging companies and those others that collaborate with them.
The purpose of this royal decree will therefore be the creation of this National Forum that, complementary to the State Council of Small and Medium Enterprises regulated by Royal Decree 962/2013, of December 5, will provide an adequate framework of public-private cooperation between the different representative actors of the innovative Spanish ecosystem, essential to provide coherence to public policies, through the detection of needs and the analysis of results.