Bizkaia provincial council increases funding for innovation and startups

The Bizkaia Provincial Council in Spain will allocate 83.4 million euros to the Department of Economic Sustainability to strengthen the local economy through innovation and entrepreneurship.

This budget represents a 2.5 percent increase over the current year. The council plans to focus most of the growth on direct support for startups and new businesses. The department will provide 4.7 million euros to entrepreneurs and startups, a 24 percent increase from previous levels.

Additionally, the council will spend 13.4 million euros on programs specifically designed for entrepreneurs. For the innovation sector, the council plans to spend 30.8 million euros to boost industrial competitiveness and advanced services. A portion of this funding will support projects involving digitalization, research and development, and the circular economy. The council also plans to invest 46 million euros into an informatics plan.

This investment comes from a remaining budget of 75.1 million euros after the Department of Treasury and Finance allocates 169 million euros for public sector salaries. Other projects include a 3 million euro urban project in Loiun to enable housing construction and 2.7 million euros to stabilize the BAT, B Accelerator Tower, an international entrepreneurship center. To address the gap between talent and job requirements, the department will spend 7.06 million euros to develop and attract STEM and qualified talent.

The council will also invest 5.7 million euros into a network of technological development centers, including the Bizkaia Quantum Industrial Hub and the Energy Intelligence Center.