This report analyzes the strengths and weaknesses of the Spanish deep-tech ecosystem by applying the MIT iEcosystem model, which emphasizes five critical system inputs (i.e., human capital, funding, infrastructure, demand and culture/incentives) driving innovation capacity (I-Cap) and entrepreneurship capacity (E-Cap). The assessment of these inputs, both strengths and weaknesses, serves as the basis for key recommendations designed from a systems perspective to strengthen Spain’s deep-tech ecosystem.