Five years ago, MONDRAGON Corporation decided to transform its corporate business promotion model to broaden its vision and focus on its business sectors. It was decided to explore new work scenarios in order to promote a more efficient entrepreneurial ecosystem and thus improve the competitive position of its cooperatives, innovate existing businesses and create new ones.

To address this change, it relied on the Promotion Center, a platform created in 2007 to develop new business activities. After a start in the health and sustainability sectors, he also entered the entrepreneurial industry, focusing on the digital transformation of all his businesses.

As part of this new dynamic of MONDRAGON, over the last five years, various venture capital funds have been set up, which allow the group's cooperatives to take on greater risk in the projects in their initial phase.

The balance sheet for this five-year period includes a fortnight's participation in technology-based startups, for a total investment of 7 million euros. Mondragon co-operatives have taken part in the capital of these new companies and have been supported by the newly created corporate venture capital funds.

In this regard, over the last three years, the Promotion Center has carried out business feasibility analyzes of some thirty business projects promoted by its cooperatives, a dozen of which have been launched in the market, in different corporate compositions and with different partners, internal and external.

In addition, Mondragon has carried out a number of full or majority acquisitions. Specifically, this is the case for business projects:

• Bexen Bioservices: This is an area of ​​Bexen Medical S. Coop. He specializes in the management of frozen samples and medications.
• Ekian: Solar energy park, the result of public-private work between EVE (Ente Vasco de Energia) and Krean; commitment to clean energy and the Basque Country's energy transition.
• Endity Solutions: Founded within Danobatgroup (Danobat and Ideko Technology Center), it is a company specializing in non-destructive inspection solutions.
• Multiverse Computing: LKS Next and Ikerlan S. Coop, owners of Mondragon. Together with cooperatives, a world leader in quantum computing, its system provides efficient software for companies in different sectors.
• Safe Load Testing Technologies: Develops simulation solutions for the optimization of goods transport packaging, specializing in the design and manufacture of industrial equipment. Mondragon and the Mondragon Assembly cooperative became its capital in 2021.
• Savvy Data Systems: Expert company in the development and deployment of advanced monitoring and analytical solutions for Big Data for the industrial sector. Owned by the Danobat Group since 2015, Fagor Automation has just entered its share capital with the aim of jointly advancing digitalisation aimed at the manufacturing sector in general.
• Secure & IT: Integrated into the LKS Next group, it is a computer and information security company that has strengthened its line of business in industrial cybersecurity.
• Ulma Medical Imaging: The activity of the Ulma cooperative, which specializes in the field of health, aimed at providing ophthalmology, dermatology and artificial intelligence products and services.
• Witrac: Provides comprehensive IoT location and measurement solutions, improving efficiency and security in a variety of industries. Mondragon and Orkli Cooperative joined its capital in 2019.

Other business projects such as BCN 3D, Closing The Gap, HWS, Chaingo, Naru, Sabbatic, Ekiluz Energía Comercializadora, Jeff, Fersay, Iddo, Shakers, Oroi and Berba are also included.

Keys to MONDRAGON's 2021/2024 Strategic Plan

• On the roadmap for the 2021/2024 quarter, MONDRAGON's main challenge is to "improve its position, making it more competitive, cooperative and flexible to deal with disruptive changes".
• It will focus on seven main strategies for the future:
• Cooperative commitment and identity, so that the model can evolve into new times without losing its essence.
• Sustainability, leaving a stronger business and a better planet for future generations. 3.
• Future businesses to evolve into activities with higher added value and sustainable profitability.
• Flexibility and adaptability with flexible organizations capable of anticipating trends and proposing rapid responses.
• Digital transformation, towards a reality with digitization-conditioned businesses, processes and jobs.
• Collaboration to achieve business projects with the right dimensions and positioning for the future.
•  Attracting and developing talent, as people will be the distinguishing feature of companies to ensure their success.