On Wednesday, the public company dependent on the Government of Navarra concluded the events commemorating its four decades of history at the Zentral, before more than 200 invited guests.
“We have been a driving force for the creation of jobs, wealth, and quality of life, and in the new era of digital transformation, sustainability, and global competitiveness, we want to continue to be a fundamental pillar in the development of Navarre,” confirmed its managing director, Iñaki Larraya.
For his part, the Minister of Industry and Ecological and Digital Business Transition, Mikel Irujo, defined Sodena as “a key strategic player in promoting and supporting businesses and industry in the region.”
Sodena, a public company owned by the Government of Navarra, concluded on Wednesday the program of activities it has developed this year to commemorate the 40th anniversary of its founding in 1984.
Specifically, in front of more than 200 guests invited to the event, tribute was paid to 40 companies from the Sodena Community for their contribution to innovation and entrepreneurship, health, energy transition, their roots as family businesses, and industrial and agri-food sector development. The companies recognized for these reasons were as follows: 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 served to highlight some of the results achieved by the company throughout its history. For example, it highlighted the more than 225 companies supported, the 11,100 jobs created, and the €450 million in investment obtained. It also highlighted the more than 100 companies attracted and established in the region and the more than 100 multinationals with a turnover of more than €5 billion that have been supported in their establishment in Navarra. In addition, the work of coordinating the Sustainable Strategy for Smart Specialization (S4) entrusted by the Government of Navarre and the eight business clusters that have been promoted, bringing together 547 companies and 95,000 jobs, were highlighted.
In view of these figures, Iñaki Larraya, managing director of Sodena, expressed his satisfaction with the progress made over the last four decades. “Today we look back with pride on having contributed to the development of key sectors such as renewable energy, health, biotechnology, and the agri-food industry, among others; on having supported family businesses, entrepreneurship in times of difficulty, early-stage entrepreneurship, and the establishment of foreign companies in Navarra,” he said.
According to Larraya, they have been “a lever for generating employment, wealth, and quality of life in our community.” However, he confirmed that they are looking to the future “with ambition.” “Navarra is facing a new era of digital transformation, sustainability, and global competitiveness, and Sodena wants to continue to be a fundamental pillar on this path,” he added. In this regard, he committed to continuing to work to attract value-added projects, facilitate responsible financing, and attract investment. The managing director of Sodena expressed his confidence that the Navarra Specialization Strategy (S4) will serve as a roadmap for spreading sustainable values and the circular economy to our business environment. “In short, so that our activity has a lasting impact,” he said.
In line with these statements and following the same line of thought, the Minister of Industry and Ecological and Digital Business Transition, Mikel Irujo, highlighted the essential role played by Sodena in the economic and social development of Navarra. “It is synonymous with change, industrial and technological momentum. It is a key strategic player in promoting and supporting businesses and industry in the region,” he said.
Irujo also said that without the support of this public company, “many business projects would not exist,” while praising its “constant mission” to promote initiatives that add value to the region’s productive fabric. “In recent years, it has strengthened its work in attracting investment and has been able to adapt to the times as a venture capital company, supporting companies in difficult times or in stages of growth,” he said. He therefore congratulated his technical team “for witnessing and participating in the industrial and business transformation of Navarre, which would undoubtedly not have been the same today without a player such as Sodena.”
VENTURE CAPITAL IMPACT
Attendees at the celebration also watched a video presenting an update of the report reflecting the socioeconomic impact of Sodena’s financial support activity via venture capital since its inception in 1984, based on the latest available data. One of the first highlights in this summary is that the companies in which it has invested have multiplied their sales by 6.9. In addition, these same companies have generated a combined EBITDA of €234 million.
In terms of employment, 3,853 direct jobs have been created, representing growth of 97%, well above the business average of 52%.
In terms of internationalization, 42% of the companies supported by Sodena are exporters, a figure well above the 3% for Navarran companies as a whole, marking a difference of 39 percentage points. Likewise, the financial backing of the public company has attracted €1.87 of private investment for every euro invested, reaching a total volume of €777 million, compared to the €415 million contributed directly by Sodena.
Innovation also stands out in the companies in which it has a stake, with 47% of them developing R&D&I programs that have accumulated an investment of €101 million. This translates into an innovation effort equivalent to 3.2% of sales, significantly exceeding the 1.8% average in Navarre. Finally, the survival rate of these companies in their first five years reaches 95%, compared to 45% for private companies at the state level, consolidating Sodena’s positive impact on business development in the region.
VIDEO OF THE SOCIOECONOMIC IMPACT REPORT
PRESENTATION BY JAVIER GOYENECHE
The program also included the conference “Companies that do the right thing” by Javier Goyeneche, founder and president of the sustainable fashion brand ECOALF. He explained that “Today’s fashion is based on an economic model that does not work: buy, throw away, continuous 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, with good 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 for the world.”
