Google Campus announced the closure of its Madrid location, marking the third shutdown of its campus model after London and Berlin closures. The Madrid facility operated for 10 years and supported hundreds of founders since its launch.

Factory's COO, Jeremy Bamberg, believes that Madrid's startup ecosystem, ranked in the top 40 globally by Startup Genome, now has an opportunity to build locally-owned infrastructure serving early to late-stage companies rather than corporate-backed coworking programs.