Startup Valencia has expressed its satisfaction with the awarding of the former maritime station, following years of administrative hurdles that culminated in a favourable court ruling. Today, the Port Authority of Valencia has approved the administrative concession of the building to Valencia Innovation District, thus concluding the granting procedure initiated in 2017 by the Valencia 2007 Consortium – the managing body of La Marina de Valencia formed by the Government of Spain, Valencian Regional Government and Valencia City Council – after six years of waiting with the facilities unused.
This project, led by Startup Valencia, aims to create a tech hub hub that will involve an investment of more than €3 million and will host over 500 highly qualified job positions.
As Juan Luis Hortelano, president of Startup Valencia, explains, “this final step paves the way for the international tech hub La Terminal to finally become a reality”. “Work will begin in the next few days and we hope it will be operational by the last quarter of 2023”, he points out.
Nacho Mas, CEO of Startup Valencia, sees the unblocking of the project as great news for the Valencian innovation ecosystem. “This is the boost that our ecosystem needs to scale internationally and consolidate its position as a leader in tech entrepreneurship in southern Europe, serving as a business bridge for startups and investors from around the world”.
La Terminal will cover an area of over 5,000 square metres and is located next to the Clock Building, at the heart of the innovation district of La Marina de Valencia. The concession will be granted for a period of 35 years, with the possibility of extension for an additional 15 years. It is estimated that more than 5,000 tech and innovation professionals will participate annually in training and networking activities and events, as well as in open innovation programmes offered by corporations and institutions in this tech hub.
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