Is the province where we live ready to face the challenges of the future? This is the question at the heart of the 2nd Impact Entrepreneurship Ecosystem Index, presented on 17 June in Madrid by Impact Hub Madrid and Impact Hub Donostia. It is a tool that aims to change the way we understand regional development: shifting the focus from competitiveness to ecosystem health.
The index analyses Spain’s 50 provinces using more than 120 indicators organised into three interdependent dimensions: ecological, social and economic-entrepreneurial health. However, its value lies not in ranking regions, but in offering a new perspective: the most resilient ecosystems are those capable of forging connections, maintaining relationships based on trust and adapting to complex contexts.
In this context, Mercedes Valcárcel, Chief Executive of SpainNAB, took part, offering her perspective on impact investment as a key driver for bringing about far-reaching change in local areas.
A transformation that requires bringing stakeholders together and rethinking the system
One of the clearest messages to emerge from the event was that traditional models of innovation – characterised by their linear nature and focus solely on economic growth – have reached their limits. Today’s challenges, such as the climate transition, inequality and demographic change, require different responses and, above all, collective responses.
The index shows that economic size does not guarantee a healthy ecosystem. What really makes the difference is the quality of relationships, the diversity of stakeholders and the capacity for collaboration. In fact, medium-sized or less densely populated regions stand out ahead of others with greater economic clout precisely because of their greater cohesion and connectivity.
During her speech, Mercedes Valcárcel emphasised that the business community is a key player, but can only generate real impact if it operates within a well-coordinated ecosystem. In this regard, she highlighted the three key characteristics of impact models: intentionality (a clear focus on addressing social and environmental challenges), impact measurement and management (the ability to assess results and adjust activities to bring about real transformation), and additionality (generating value that would not otherwise be produced).
One of the main challenges from an economic and financial perspective is adapting financial instruments to the realities on the ground. Many impactful initiatives begin on a small scale or in complex contexts, which requires combining public, private and philanthropic funding, as well as ensuring that projects are properly prepared to secure funding.
Added to this is a less visible but equally significant barrier: language. The disconnect between the various stakeholders – companies, public authorities, investors and social organisations – hinders collaboration. That is why creating spaces for dialogue and trust is essential to bringing about genuine transformation.
From measurement to action: revitalising regions with a future
The vision set out by the index – which views territories as living systems in which social, economic and ecological factors are deeply interconnected – ties in directly with the work that SpainNAB is promoting alongside Impact Hub and the Spanish Association of Foundations through the “Territories with a Future” project.
The aim of this project is to identify, in collaboration with local stakeholders, the levers needed to bring about systemic change in each region. It is not simply a matter of supporting individual projects, but of understanding the ecosystem as a whole: its capabilities, its gaps and its opportunities.
The initiative already underway in Almería, in partnership with the Almería Tierra Abierta Foundation, demonstrates that when work is carried out at a local level and in collaboration with local stakeholders, it is possible to bring about more profound, coherent and sustainable change over time.
Ultimately, the future of entrepreneurship and innovation lies in gaining a better understanding of regions, strengthening their connections and unlocking their capacity for evolution. Because, beyond the data, the key lies in building ecosystems where collaboration, trust and a shared vision enable us to respond to the challenges of our time.
