The Bilbao City Council presents the As Fabrik Project, a digital business incubator in Zorrotzaurre

Today, at Idom’s headquarters, the Bilbao City Council presented the As Fabrik Project, a complex dedicated to training and entrepreneurship to be installed in Zorrotzaurre.

As Fabrik is going to be a digital business incubator with the objective of promoting local talent, and to act as a motor for further future investments related to what is known as industry 4.0.

The partners in the launch and development are: Bilbao City Council, Corporación Mondragón, MIK (Mondragon Innovation & Knowledge), Gaia (telecommunications cluster), Orkestra (Basque Institute of Competitiveness), Eiken (audiovisual cluster), Idom and Mondragon Unibertsitatea (Business and Engineering faculties).

The project has an initial investment budget of 5.8 million euros, of which the European Commission provides 4.6 million euros (80% of the total).

Most of the initial 5.8 million euro investment, foreseen for As Fabrik, will be used to rehabilitate an existing building in Zorrotzaurre which Bilbao City Council will, in the near future, adjudicate to the project.

The objective for the Bilbao City Council is that within 3 years As Fabrik should open its doors.