July 23, 2024 | 10:01

Bizkaia

Bizkaia expands its commitment to cooperatives with a new venture capital fund

Maria Jose Gonzalez

October 16, 2023 | 8:35 am

Bizkaia, a region with a rich history of cooperatives and community enterprises, has been put back in the spotlight with the introduction of Konfekoop Seed Bizkaia, the latest venture capital fund aimed at promoting the growth of local cooperatives. Why is this so relevant? Let's explore it together!

The heart of the cooperative in Bizkaia

Bilbao, the iconic city of Bizkaia, has always been a key point in the country's cooperative panorama. Imagine a city in which every corner witnesses economic and social transformation, collaboration and community spirit. That is Bilbao, and by extension, Bizkaia. If we were to compare it, it would be as if a giant tree had taken root in the fertile soil of innovation and community engagement.

Konfekoop Seed Bizkaia: A push towards the future

It is evident that when we talk about cooperatives, we are not only talking about companies. We are talking about the essence of a community, of people working together for a common good. And this is where Konfekoop Seed Bizkaia comes into play. It is the sixth venture capital fund launched by Seed Capital Bizkaia, and its main objective is to promote and support cooperatives that have their roots in Bizkaia.

What makes this fund special is not just the money. It is the vision. Have you heard that “investing in the future”? Well, here it is clear. The fund will not allow its investments to be used to refinance debt or acquire non-core assets. Rather, seeks to generate a real impact in the community, in the lives of people and in the business fabric of the region. Can you imagine a world in which investments were made with the heart and not just with the mind? Bizkaia is taking firm steps in that direction.

The importance of numbers

Now, let's put it into perspective. According to Konfekoop, the Confederation of Cooperatives of Euskadi, there are approximately 1.400 cooperatives in the region. These companies generate employment for 60.000 people and have a turnover that amounts to 11.100 billion euros. That is amazing! And to add more weight to these figures, Bizkaia is home to 549 of these cooperatives, with Bilbao being its beating heart.

Looking Ahead

With support from giants such as Banco Santander, BBVA, Iberdrola and El Corte Inglés, the future of Konfekoop Seed Bizkaia seems promising. During the last year, Seed Capital Bizkaia invested more than 3,9 million euros in projects in the province. And if there is anything to learn from this, it is that when a community comes together, the sky is the limit.

Conclusion

In a world where finances and investments often seem disconnected from people's reality, Bizkaia shows us a different way. Konfekoop Seed Bizkaia It's not just a background. It's a statement. A declaration that cooperatives, community and collaboration are essential for a sustainable and prosperous future. Because, after all, isn't that what we're all after? Go ahead, Bizkaia! Your vision is the inspiration that many need.

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