The European Commission has awarded a 4.6 million euro grant to set up ‘As Fabrik’ a digital business incubator in Zorrotzaurre

The European Commission has awarded a 4.6 million euro grant to the Bilbao City Council and a group of private investors to set up a complex dedicated to training and entrepreneurship in Zorrotzaurre. The project is called AS Fabrik and it will be a digital business incubator.

The partners of the City Hall for this project are: Corporación Mondragon; MIK (Mondragon Innovation & Knowledge); GAIA; Orkestra; EIKEN; IDOM and Mondragon Unibertsitatea (Engineering and Business Faculties).

As Fabrik was chosen along with 17 other proposals out of a total of 378 projects presented to the European Commission. The EU authorities will give 4.6 million euros to As Fabrik out of the 5.8 million euros to be invested; 80% of the total investment.

An important part of the investment will go to the integral renovation of an existing building in Zorrotzaurre to be chosen among the industrial buildings that are to be maintained.

The Bilbao City Hall has a 3-year window for As FAbrik to open its doors.