- The public company under the Government of Navarra concluded on Wednesday at Zentral the series of events commemorating its four decades of existence, attended by over 200 invited guests.
- “We have been a lever for the creation of employment, wealth, and quality of life. In this new era of digital transformation, sustainability, and global competitiveness, we aim to remain a fundamental pillar in Navarra’s development,” said Iñaki Larraya, Managing Director of Sodena.
- Meanwhile, Mikel Irujo, Regional Minister of Industry and Ecological and Digital Business Transition, described Sodena as “a strategic key player in supporting and promoting businesses and industry in the region.
Sodena, the public company of the Government of Navarra, closed its year-long program of activities commemorating the 40th anniversary of its founding in 1984.
Specifically, during the event attended by more than 200 guests, a tribute was paid to 40 companies from the Sodena community for their contributions to innovation and entrepreneurship, health, energy transition, family business roots, industrial development, and the agri-food sector. The honored companies were: Cocuus System, Fuvex, IAR, MOA Foodtech, Nubapp, Velites Fitness, 3PBiovian, Infarco-CINFA, Clínica Josefina Arregui, Eversens, Hospital San Juan de Dios, Palobiofarma, Telum Therapeutics, BeePlanet Factory, Kunak, Nabrawind Technologies, Grupo Nordex-Nordex Electrolyzers, Construcciones Metálicas Comansa, Corporación Jofemar, Envaplaster, Estampaciones Navarra, Grupo Empresarial Enhol, Grupo Corlago (SIC Lázaro), Bacaicoa Industrias Plásticas, Tutti Pasta, Ultracongelados Virto, Dana Automoción, Embega, Tafalla Iron Foundry, Guardian Industries Navarra, Sofidel Spain, Messer Ibérica de Gases, Rockwool Peninsular, Smurfit Westrock Sangüesa, Volkswagen Navarra, Congelados de Navarra, Florette Ibérica, General Mills, Grupo Apex, and Uvesa.
The event also highlighted some of the results achieved by the organization throughout its history, such as supporting over 225 companies, generating 11,100 jobs, and securing €450 million in investment. It also emphasized the more than 100 companies attracted and established in Navarra and the support provided to over 100 multinational companies with total revenues exceeding €5 billion. Additionally, it recognized the coordination of the Sustainable Smart Specialization Strategy (S4) entrusted by the Government of Navarra and the promotion of eight business clusters encompassing 547 companies and 95,000 jobs.
Based on these figures, Iñaki Larraya expressed satisfaction with Sodena’s trajectory over the past four decades:
“Today, we look back with pride at having contributed to the development of key sectors such as renewable energy, health, biotechnology, and the agri-food industry; at having supported family businesses, entrepreneurs during tough times, and startups in their early stages, as well as attracting companies to set up in Navarra.”
According to Larraya, Sodena has been “a lever for generating employment, wealth, and quality of life in our community.” However, he also stated that the organization is looking to the future “with ambition.”
“Navarra is entering a new era of digital transformation, sustainability, and global competitiveness, and Sodena wants to remain a fundamental pillar in this process,” he added. He emphasized the need to continue attracting high-value projects, facilitating responsible financing, and bringing in investment. Larraya also expressed confidence that Navarra’s Smart Specialization Strategy (S4) will serve as a roadmap to spread sustainable and circular economy values throughout the business ecosystem. “Ultimately, so that our activity has a lasting impact,” he concluded.
Echoing this sentiment, Regional Minister Mikel Irujo underscored the essential role Sodena has played in Navarra’s economic and social development:
“It is synonymous with change, with industrial and technological advancement. It is a strategic key player in supporting and promoting businesses and industry in the region.”
Irujo also noted that without the support of this public company, “many business projects would not exist.” He praised its “constant mission” to drive initiatives that add value to the regional production network.
“In recent years, it has strengthened its efforts to attract investment and has successfully adapted to the times by operating as a venture capital entity, supporting companies during difficult moments or growth phases,” he emphasized. He congratulated the technical team for being both witnesses and active participants in Navarra’s industrial and business transformation, which “would certainly not have been the same without a player like Sodena.”
VENTURE CAPITAL IMPACT
Attendees also viewed a video summarizing the updated report on the socioeconomic impact of Sodena’s venture capital support since its inception in 1984, based on the latest available data. One of the highlighted findings was that participating companies have increased their revenues by a factor of 6.9. These companies have also generated a combined EBITDA of €234 million.
In terms of employment, Sodena’s support has helped create 3,853 direct jobs, with a 97% growth rate—far above the business average of 52%.
In terms of internationalization, 42% of Sodena-backed companies are exporters, compared to just 3% of all companies in Navarra—an impressive difference of 39 percentage points. Moreover, every €1 invested by Sodena has attracted €1.87 of private investment, reaching a total investment volume of €777 million, compared to Sodena’s direct contribution of €415 million.
Innovation also stands out among Sodena’s portfolio companies, with 47% engaged in R&D programs, amounting to €101 million in investment. This represents an innovation effort equivalent to 3.2% of their total sales, significantly higher than the Navarra average of 1.8%. Finally, these companies have achieved a five-year survival rate of 95%, compared to just 45% for private companies at the national level, demonstrating Sodena’s strong positive impact on regional business development.
SOCIOECONOMIC IMPACT VIDEO REPORT
KEYNOTE BY JAVIER GOYENECHE
The program also included the talk “Companies That Do the Right Thing”, delivered by Javier Goyeneche, founder and president of the sustainable fashion brand ECOALF. He explained:
“Today’s fashion is based on an economic model that doesn’t work: buy, throw away, constant discounts and promotions, Black Friday, Cyber Monday, etc. This is having a terrible impact on the planet and depleting natural resources. Our philosophy is to buy less, but with better quality and traceability. Sustainability, innovation, quality, and timeless design are part of our DNA, as a sign of durability and responsibility. As members of BCORP, our goal is not to be the biggest company in the world, but the best one for the world.”
