Bilbao tech city: is it a good startup hub in 2026?

Yes, Bilbao is a real startup hub, but a specialised one: industry 4.0, energy, health and food tech, backed by strong Basque public support. Dealroom counts 68 million euros of venture capital invested in Bilbao in 2025. StartupBlink ranks it 4th in Spain and Bilbao Metropoli-30 ranks it 5th. Bilbao is still well below Madrid and Barcelona (about 1.1 to 1.2 billion euros each). The regional figures are less clear, because some of them contradict each other, and we show you exactly where below.

This guide is part of our series on Spanish tech cities. To see all of them side by side, read our comparison of Spain's startup cities.

What are Bilbao's startup ecosystem numbers?

The short answer: about 68 million euros raised in 2025 and somewhere between 74 and 127 tracked companies, depending on who is counting. The sources below measure different areas (city, province, region) with different methods, so you can't add them together or compare them directly.

Why don't the Basque figures add up?

If you add up Dealroom's 2025 figures for the three Basque cities (Bilbao 68 million, Vitoria-Gasteiz 12 million, San Sebastián 206 million), you get 286 million euros for one year. El Referente gives over 592 million euros for the whole Basque Country, but we couldn't confirm whether that covers one year, several years added together or some other period, because we were only able to see it through a search engine summary. As things stand, the two figures cannot be reconciled. Treat the 592 million as an indication, not a reference figure.

The figures within each source raise questions of their own:

• Dealroom: the stage breakdown (113 pre-seed, 27 seed, 13 series A, 5 series B/C) adds up to 158, more than the 127 companies tracked. 2025 alone (68 million euros) also accounts for most of the 10-year total (82.6 million euros).
• Bilbao Metropoli-30: the city of Bilbao is given 24 scaleups while the whole province it belongs to has only 10. The three provincial categories also add up to 231, not 233.

We report these figures exactly as published, without correcting them.

How does Bilbao compare with other Spanish cities?

In 2025, Madrid attracted 1.2 billion euros and Barcelona 1.131 billion euros. Valencia reached 229 million euros with 1,689 startups. Even within the Basque Country, San Sebastián raised more than Bilbao in 2025 (206 million against 68 million, Dealroom). Bilbao Metropoli-30 ranks Bilbao as Spain's 5th innovation hub, behind Barcelona, Madrid, Valencia and San Sebastián. StartupBlink ranks it 4th. For a closer look at the two leaders, see our Madrid tech city guide.

Which sectors dominate in Bilbao?

Industry and energy come first, followed by health and food. These are the four focus areas of BIND 4.0, the program run by the Basque Government and SPRI:

• Intelligent Industry (industry 4.0): factory automation, robotics, connected machinery.
• Energy and sustainability: renewables, grids, decarbonisation of heavy industry.
• Health: biotech and healthtech.
• Food Tech: food processing and agri-food innovation.

Which clusters structure the Basque ecosystem?

SPRI organises Basque industry into sector clusters. These are useful entry points if you sell to large companies:

• ACICAE: automotive.
• Cluster de Energía del País Vasco: energy, founded in 1996, about 200 member entities.
• AFM: advanced manufacturing.
• Basque Health Cluster: human and animal health biotech, food, cosmetics, medical devices and e-health, with 59% of its activity in health biotech.
• Basque Food Cluster: food industry.
• GAIA: digital technologies.
• HEGAN: aeronautics.

Research centres are another pillar. The Spanish Tech Ecosystem Report 2025 (June 2025) names Tecnalia, Vicomtech, IKERLAN, CIC energiGUNE, CIC nanoGUNE and CIC biomaGUNE. SPRI also announced that Euskadi would host Spain's biggest biotech trade show in 2026, but we could not confirm the exact date.

What accelerator is in Bilbao?

The main one is BIND 4.0, run by the Basque Government and SPRI. It is a 24-week program that puts early-stage startups in touch with 70 large partner companies, including ABB, ArcelorMittal, CAF, Iberdrola, Mercedes-Benz, Michelin, Repsol-Petronor and Siemens Gamesa. Pilot contracts can be worth up to 150,000 euros, and BIND 4.0 takes no equity. According to SPRI, the 3rd documented edition brought together 32 startups and 33 partner companies for 44 projects.

What funding does SPRI offer startups?

SPRI, the Basque Government's economic development agency, also funds startups directly:

Conflicting budget figures: an official Euskadi.eus headline puts the overall 2025 budget for startup creation and growth at 2.5 million euros, while a separate SPRI article gives 4.5 million euros. We could not resolve the difference. The Aurrera loan line alone (5 million euros) is larger than both, which suggests the two headline figures don't cover the same set of programs. We could not check which programs each one includes.

Who is Bilbao Metropoli-30?

Bilbao Metropoli-30 is a strategic planning association set up in 1991 by the Basque Government, the Biscay Provincial Council and Bilbao City Council. It is not an accelerator. It publishes the ecosystem's annual tracking report, which is the source of the 5th-place national ranking and the Biscay company counts above.

How much does an office or apartment cost in Bilbao?

Bilbao costs less than Madrid and Barcelona and a little more than Valencia. These figures come from general-public sources and listing websites, which are less reliable than a sector report. Use them as a rough guide.

What does office space cost?

These are listing prices shown on 4 October 2026 by Idealista, Alzola Coworking and Workin.space. The sites give no official recording date.

• Coworking: 4.70 to 20.35 euros/sqm.
• Coworking desk: from 99 euros/month (half day), or 229 to 305 euros/month for a dedicated desk.
• Private offices: 189 to 2,239 euros/month, depending on size and location.
• City centre (Alameda de Recalde, Moyúa): up to 76.19 euros/sqm.
• Indautxu: about 12.25 euros/sqm.

Which tech events in Bilbao are worth attending?

This is one of Bilbao's real strengths. Several major events are held in the city each year. Here are the editions we were able to document. Check each organiser's website for the next dates.

Investors are most likely to be in town for Slush'D and South Summit Industry & Energy. B-Venture and Techstars Startup Week are better for meeting the local founder community.

What doesn't change from city to city?

The legal framework is the same everywhere in Spain: the Startup Act (Ley 28/2022), ENISA certification, the choice between an SL and autónomo status, and visas for foreign founders. We don't repeat it here. Everything is explained step by step in our guide to starting a startup in Spain as a foreigner. The Basque layer (SPRI, BIND 4.0) comes on top of these national rules. It does not replace them.

Is Bilbao for you?

Bilbao is a good fit if:

• you build B2B technology for industry, energy, mobility, aeronautics or health;
• you want pilot contracts with large industrial groups without giving up equity (BIND 4.0);
• you need lower rent than in Madrid or Barcelona;
• you want regional public support alongside the national schemes.

Look elsewhere if:

• you build a consumer app, a marketplace or fintech and need a large pool of VC money. Madrid and Barcelona each raise over 15 times as much; see our Madrid and cities comparison guides;
• you need a big international community from day one. If so, compare with our Malaga tech city guide;
• you are a biotech or deeptech startup and are not set on Bilbao. San Sebastián, an hour's drive away, raised 206 million euros in 2025 (Dealroom).

Bilbao startup FAQ

How much venture capital did Bilbao raise in 2025?

68 million euros, according to Dealroom's Spain report 2025 (June 2025). That is far below Madrid (1.2 billion euros) and Barcelona (1.131 billion euros).

Is Bilbao Spain's 4th or 5th startup hub?

It depends on the ranking. StartupBlink ranks Bilbao 4th in Spain (293rd worldwide). Bilbao Metropoli-30 ranks it 5th, behind Barcelona, Madrid, Valencia and San Sebastián. The two use different methods.

Does Bilbao have a unicorn?

No. Dealroom's city profile (accessed 4 October 2026) counts 0 unicorns and 1 "thoroughbred", Agile Content, with over 100 million euros in revenue.

How much has the whole Basque Country raised?

We can't give a reliable figure. Dealroom's 2025 numbers for Bilbao, Vitoria-Gasteiz and San Sebastián add up to 286 million euros. El Referente gives over 592 million euros for the Basque Country, but we could not confirm the period it covers, so the two figures cannot be reconciled.

Does BIND 4.0 take equity?

No. According to SPRI, BIND 4.0 takes no equity. It is a 24-week program that can lead to pilot contracts of up to 150,000 euros with partner companies.

What is SPRI's startup budget for 2025?

The sources disagree: Euskadi.eus gives 2.5 million euros and a SPRI article gives 4.5 million euros. We could not resolve the difference. Separately, the Aurrera loan program has 5 million euros.

Is Bilbao cheaper than Madrid for a startup?

Yes, according to general-public sources. Expatistan and Kelisto put a 1-bedroom apartment in the city centre at about 800 euros/month in Bilbao, against over 1,200 euros in Madrid. They give Bilbao a cost-of-living index of 106, against 125 for Madrid.

Which sectors work best in Bilbao?

Industry 4.0, energy and sustainability, health (biotech and healthtech) and food tech. These are the four focus areas of BIND 4.0, and SPRI's clusters and research centres such as Tecnalia and IKERLAN support them.

General information, updated 4 October 2026. It does not replace personalized advice.