The Biscay region in Spain supports a startup ecosystem comprising over 300 companies, 20 research centers, and four universities. This sector generates more than €9.4 billion and supports 62 000 jobs. Life sciences account for 45 percent of local companies and 56 percent of regional revenues, with 135 firms employing over 27 000 people and generating €5.2 billion.
Financial support for startups includes grants of up to €60 000 for prototyping and up to €85 000 for incorporation. Seed Capital Bizkaia, founded in 1989, provides financing through equity and loans, typically covering 40 to 50 percent of a funding round. The organization also manages a crowdfunding platform for projects with social or environmental impact, with rounds ranging from €100 000 to €200 000.
The region offers tax incentives, including a 35 percent personal income tax deduction for investors and a 50 to 100 percent capital gains exemption. Companies can access R&D tax deductions of up to 70 percent. A major healthcare project led by I+Med involves €72 million in investment over three years, including €28 million for R&D, aiming to create over 600 jobs.
Bizkaia Talent works to attract and retain skilled professionals, coordinating with SMEs to address recruitment needs. The region also operates a GovTech initiative to help startups develop solutions for public administration, identifying three to five challenges annually. Seed Capital Bizkaia is expanding international reach through fund-of-funds investments in Estonia and Portugal.
