International investments are committed to startups and Basque businesses

1 July, 2015

Arantxa Tapia: “The Basque Country attracts multinationals because it is an easy place to do business and because the institutions are accessible”
The “3rd Startups and Internationalisation Study”, produced by TicketBis, which was presented a few days ago, confirms that technology-based entrepreneurial initiatives in the State have a magnificent reputation abroad and are attracting notable interest in global investor markets. Among other interesting data, the report states that 39% of businesses have a foreign capital contribution and one out of every four of them is of Basque origin.

Indeed, it draws attention to the fact that 26% of the startups backed by international capital are Basque, which demonstrates the excellent preparation, entrepreneurial nature and foreign interest that our young companies have. This outlook is very much in line with the average profile of industry in our Country, which for a long time has been investing in cutting-edge projects and technologies, as Basque Government Minister Arantza Tapia announced last week on the Boulevard programme on Radio Euskadi: “Most of our industry has been prepared for the present time; economic recovery is already a fact”.
On the State map of entrepreneurial internationalisation, we will also find one Catalan startup and another from Madrid (21% respectively); together with the Basque Country, they probably have the best ecosystems for talent to incubate its ideas and make them grow, consolidate and present itself abroad.
On the other hand, the Basque Country has attracted considerably more foreign investment thanks to its empathy with investors’ real needs, coupled with a policy of facilities contributing to the optimal arrival of their economic and business commitments: “Multinationals come to the Basque Country because it is an easy place to do business and because the institutions are accessible” says Arantza Tapia, “we are currently the third destination in the State, after Madrid and Barcelona”.
In these circumstances, companies in the Basque Country and the talent of their Startups seem to walk simultaneously towards a global scenario in which, in spite of difficulties, being highly technological and competitive will prove critical in generating wealth to share and quality employment, essential factors for the revival of the Basque economy.
Data from the “3rd Startups and Internationalisation Study”:

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