These are the conclusions from a sector event organized by the Basque Health Cluster
The biosciences sector is increasingly thriving within the Basque business community. This is demonstrated by data such as its contribution to the region’s GDP. And this was made clear last Friday during an event organized by the Basque Health Cluster at the Bilbao Stock Exchange.
The event, which focused on Funding Needs and Opportunities in the BioSciences and Health Sector, brought together around 70 representatives from companies and institutions in the Basque Country.
Key conclusions
During the event, it was revealed that the biosciences industry in Euskadi has experienced significant growth in recent years. However, to continue advancing, it is “essential to attract more investment, both public and private, to drive the most disruptive projects and respond to the demands of an increasingly global and competitive market,” according to industry sources.
Attendees at the event debated various issues related to the sector. Among the ideas put forward, the same sources highlighted that it is now necessary to “professionalize the management of companies in the sector.”
Proximity to Osakidetza
Additionally, participants agreed that in Euskadi, “there is a need for driving companies and closer collaboration with Osakidetza.” They believe that “there is money to invest, but there is a need for talent to know how to allocate that money.”
Furthermore, those present at the Bilbao Stock Exchange heard that the banking sector “needs to adapt to the new times.” It was also made clear that “the health sector contributes twice as much to GDP and employment generation as the machine tool sector in Euskadi.”
Idoia Muñoz
The general director of BHC, Idoia Muñoz Lizán, stated that “it is essential that all the actors present here — companies, institutions, and investors — work together to ensure that the sector continues to be one of the key engines of our region, with both local and global impact.”
She also added, among other things, that “biosciences is not only a high-value economic area but also a sector with a direct impact on people’s quality of life. Every euro invested in this field has the potential to transform patients’ lives, improve healthcare systems, and generate innovation that transcends borders.”
2.5% of Basque GDP
The companies and organizations associated with the Basque Health Cluster (BHC) have added up to 1,500 people to their workforce in the last year and contribute 2.5% of the Basque GDP, specifically more than 2 billion euros, according to a statement released by the Basque Biosciences and Biociences Cluster.
With these new additions, the total number of professionals reaches 11,500. If we include research personnel linked to the Biosciences and Biociences sectors from Technology Centers, Research Centers, and Universities, Euskadi now has 16,000 people employed in these fields.
This data was released in June during the celebration of BHC Eguna, a day of debates around Biosciences, which also included the Cluster’s Annual Assembly and the renewal of positions on the BHC Board of Directors.
