The Basque Government has extended to universities and BERC centers (Basque Excellence Research Centres) dedicated to basic and excellence research the opportunity to participate in the new venture building call promoted by the Department of Industry, Energy Transition and Sustainability, aimed at transforming scientific knowledge into technology-based companies, “with the conviction that excellent science is a strategic source of opportunities for Euskadi.”
By expanding participation to other agents within the Basque Network for Science, Technology and Innovation, Basque Tek Ventures strengthens its role as a tool to promote the creation of new technology-based companies and contribute to a more competitive, innovative Basque industrial fabric aligned with industrial and sustainability challenges.
In this year’s call, 20 proposals have been submitted by 11 different agents of the Basque Network for Science, Technology and Innovation (9 proposals from universities, 7 from centers within the BRTA alliance, and 2 from BERC centers). By sector, 9 projects are in the health field, 8 in smart industry, and 3 in energy.
In the next phase, the initiative will assess and validate the potential of each project, prioritizing those with the greatest prospects. These will gain access to a comprehensive venture building service pathway provided by external experts and the BIC network.
Since its launch, across the three editions of Basque Tek Ventures, 40 projects from 13 different centers have been submitted. Of these, 24 projects have entered the Venture Builder program, leading to the creation of 16 companies and 10 investments by the BTV fund, with new operations expected in the coming months.
Basque Tek Ventures is an initiative designed to accelerate the transfer of scientific and technological knowledge to the market through the creation of technology-based companies with industrial and economic impact in Euskadi. The initiative operates as a public venture builder specialized in deep-tech and provides support from the earliest stages of projects.
The Basque Tek Ventures model is based on coordinated action among the main public stakeholders involved in business development and innovation, including SPRI, BRTA, Basque Venture Capital Management, and the BIC network. Universities and BERC centers can now also join, with the aim of providing coherent and specialized support to projects.
Euskadi has an excellent scientific base, but further progress is needed in knowledge transfer to transform this capability into tangible impact on the productive sector. The initiative is part of the Industry Plan – Euskadi 2030, which “aims to strengthen our industrial fabric, promote innovation and sustainability, and ensure that our industry is more competitive with a lower emissions footprint.”
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