Bizkaiko Foru Aldundia

Bizkaiko Foru Aldundia, or the Bizkaia Provincial Council, is a public administration body based in Bilbao, Spain, dedicated to the economic and social development of the Bizkaia region. While not a traditional venture capital firm, the Provincial Council actively participates in fostering entrepreneurship and innovation through various initiatives, grants, and its dedicated public venture capital arm, Seed Capital Bizkaia. This entity serves as the primary vehicle for direct equity investments, aligning with the Council's broader strategy to stimulate local economic growth and create employment opportunities within the province.

Seed Capital Bizkaia focuses on providing financial support to startups and small and medium-sized enterprises (SMEs) that are in their seed or early stages of development. Their investment strategy is broad, encompassing various sectors deemed strategic for the region's future, including advanced manufacturing, information and communication technologies (ICT), health, and creative industries. The Council's approach often involves co-investment with private investors, leveraging public funds to de-risk early-stage ventures and attract further private capital into the local ecosystem.

The typical first cheque size for companies receiving investment through Seed Capital Bizkaia ranges from approximately $54,000 (€50,000) to $324,000 (€300,000), depending on the specific needs and stage of the company. These investments are crucial for helping nascent businesses scale and innovate. Since its inception, Seed Capital Bizkaia has played a significant role in the regional entrepreneurial landscape, having supported over 200 companies by 2022, demonstrating a consistent commitment to nurturing the local startup ecosystem. Their involvement underscores a strategic public effort to build a robust and dynamic economy in Bizkaia.