Venture capital in Spain has traditionally been concentrated in Madrid and Barcelona, particularly in sectors such as technology and life sciences. However, San Sebastián is increasingly emerging as a notable exception to this pattern.
A key factor behind this shift is the presence of Ysios Capital, Spain’s largest venture capital firm dedicated exclusively to life sciences. With its historical roots and one of its main offices in San Sebastián, Ysios has played a central role in anchoring the city within the national biotech landscape, attracting investment and supporting the development of high-value scientific ventures.
This foundation is now being reinforced by a new wave of technological and institutional developments. In October 2025, the Basque Government and IBM inaugurated the IBM–Euskadi Quantum Computational Center, home to Europe’s first IBM Quantum System Two. This milestone places San Sebastián at the forefront of quantum computing in Europe, with potential applications across biomedicine, energy and artificial intelligence.
Looking ahead, the next step in this trajectory is the development of new specialised infrastructure. The planned SOKAI Hub Gipuzkoa, located in Illunbe and expected to be operational by 2027, represents a significant milestone in this evolution. With approximately 64,000 square metres dedicated to laboratories, GMP facilities, production areas and offices, the project is designed to meet the complex and evolving requirements of life sciences companies.
What distinguishes this model is not only the technical specification of the facilities, but the creation of an integrated environment tailored to the operational needs of the sector. From adaptable GMP laboratories to complementary elements such as temporary accommodation for researchers and international talent, the objective is to streamline implementation, reduce costs and foster collaboration across disciplines.
Taken together, these developments point to a broader structural shift. The combination of specialised venture capital, advanced technological capabilities and purpose-built real estate is transforming San Sebastián into an increasingly relevant hub for life sciences and deep tech in Europe.
In this context, projects such as SOKAI should not be understood as isolated initiatives, but rather as the physical expression of a maturing ecosystem, one that is progressively strengthening its ability to attract both capital and talent at an international level.
