The Provincial Council of Álava has formalized its participation in the Double Helix Venture Fund, a European venture capital fund specializing in biotechnology and healthtech. The council’s contribution amounts to €300,000 and is part of its broader strategy to support the life sciences ecosystem, alongside the deployment of the local node, tax incentives, and other business financing tools.
Saray Zárate, Provincial Deputy for Economic Development and Innovation, emphasized that “this operation strengthens our roadmap for the life sciences and ensures specialized capital for Álava-based companies with high potential. The agreement includes a commitment to invest at least €300,000 in companies based in Álava, activating growth levers and skilled employment in the region.”
Double Helix Venture Fund is an investment fund approved by the CNMV, with a target capital of €10 million. Its mission is to support companies in the biotechnology and health sectors, especially those with solid projects and growth potential. The fund typically invests between €500,000 and €1,000,000 per company, with the possibility of additional contributions in later stages. Its areas of interest include medical diagnostics, preventive health, personalized medicine, health data and software, scientific tools, and technologies to enhance longevity and well-being. It does not invest in new drug development, focusing instead on technology-based health solutions.
First Investment in Álava: Baigene
As a result of the agreement, Baigene will be the first Álava-based company to receive investment from the fund. The company, located in the Álava Technology Park (Miñano), specializes in Genetic Fitness, a discipline that applies genetics and biotechnology to enhance physical performance and personalized health. Its activity focuses on experimental R&D in biotechnology, combining genetic analysis, sports science, and technology to provide innovative solutions for athletes and individuals seeking to optimize their well-being.
Baigene exemplifies the type of project the Provincial Council aims to promote: companies founded in Álava, with a strong scientific base, proprietary technology, and a focus on growth markets. With Double Helix’s support, the company will be able to accelerate its development, expand its team, and strengthen its international presence, consolidating Álava as a reference hub in life sciences.
“Baigene symbolizes the type of project we want to support: applied scientific knowledge, proprietary technology, and market orientation. With Double Helix, we add a partner with sector expertise to accelerate its growth from Álava,” highlighted Saray Zárate.
More Opportunities for Álava-based Companies
The Provincial Council of Álava has several tools to facilitate financing for local entrepreneurial projects and startups, including:
In all cases, the Provincial Council establishes a clear condition: to invest in Álava-based companies an amount equivalent to that committed by the institution.
Additionally, the DFA maintains other support channels, such as the agreement with Elkargi for guarantees under favorable conditions, majority participation in Hazibide—a seed capital company for industrial and technological projects—and collaboration in strategic initiatives such as ABE Capital Partners or the new financial cluster BasqueFIK, which promotes an investment culture and new financing mechanisms.
“With Double Helix, EASO Ventures II, Stellum Food&Tech, and Hazibide, we consolidate a financial arsenal for the growth of technology companies and high-potential sectors in Álava: from seed stage to growth and industrialization,” Zárate summarized
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