15 June 2026
- 15 new companies have joined the Basque Hidden Champions community promoted by Orkestra and the BBK Banking Foundation
- Hermann Simon, the creator of the "Hidden Champions" concept, encouraged Basque companies to continue investing in people and the ecosystems that enable long-term success
- Representatives from 3 Hidden Champions -ONA, Draxton and AMPO- emphasised the importance of balancing international growth with preserving strategic capabilities in the Basque Country
The Hidden Champions community promoted by Orkestra-Basque Institute of Competitiveness and BBK held its first public forum today in Bilbao. The event brought together international niche-market leaders, institutional representatives, and other stakeholders from the Basque business ecosystem to highlight the role these firms play as drivers of competitiveness, innovation, territorial cohesion, and local embeddedness.
The event showcased the consolidation of an initiative that, according to Alejandro Vázquez Zubeldia, Investment Director at BBK Banking Foundation, “has become, in just over a year, a leading platform for highly specialized industrial companies with a strong international outlook.” The strength of the community is also reflected in the addition of 15 new companies, bringing the total number of participating firms to 53.
The forum also featured the presentation of the new report, “Basque Hidden Champions: International Niche Market Leaders with local roots”, which examines the contribution of these companies to the competitiveness of the Basque Country and their role in the future of European industry.
According to Mikel Gaztañaga, one of the authors of the report, the Basque Country benefits from several distinctive factors that support the emergence and development of Hidden Champions, including its industrial tradition, public-private collaboration, vocational education system, and network of technology centres. However, he warned that the current international context requires constant adaptation and increasingly sophisticated internationalisation strategies.
Among the report’s recommendations are stronger support for companies facing more demanding internationalisation processes, deeper connections with the region’s financial, technological, and educational ecosystems, and the design of flexible industrial policies adapted to diverse business trajectories.
One of the highlights of the forum was the keynote address delivered by Hermann Simon, economist and creator of the original "Hidden Champions" concept. Simon shared insights into the experience of German Hidden Champions and the factors that explain their ability to lead global markets from relatively small territories.
During a conversation with Bart Kamp, Senior Researcher at Orkestra, Simon stressed that the world needs companies capable of competing globally from territories with a strong industrial identity, and that the Basque Country possesses the conditions to achieve this. “The key will be to deepen specialization, innovate faster than competitors, become even closer to customers, and continue investing in people and in the ecosystems that make long-term success possible,” he stated.
The business perspective: growing globally while maintaining local roots
The forum also included a roundtable discussion moderated by Javier Fernández-Monge, Business Development Director at BBK, where representatives from several Hidden Champions shared their experiences and perspectives on the challenges facing industrial firms that lead international niche markets.
During the discussion, Sergio Ruiz de Larrea, Commercial Director at ONA, explained that the company focuses on highly specialized industrial niches where technological capabilities, reliability, and the management of complex projects are decisive factors in customers’ purchasing decisions within increasingly demanding global markets.
Marta Ratón, Plant Director at Draxton Atxondo, highlighted that being part of a large industrial group creates important synergies, but emphasized that “our technological capabilities, specialization, and corporate culture have enabled us to differentiate ourselves and create value within the group.”
Alex Eizmendi, Strategy Manager at AMPO, underlined the importance of preserving the industrial and technological capabilities that underpin international leadership. “Leading highly complex solutions capable of operating under extreme conditions allows us to be valued and recognised by highly demanding customers,” he said.
The panellists also agreed on the importance of collaboration and learning networks among companies facing similar challenges, particularly in areas such as talent, innovation, and internationalisation.
A strategic asset for Basque and European industry
The event concluded with remarks from Iván Martén, President of Orkestra, who stressed that these companies represent a distinctive asset for the Basque Country: “Not only because of their ability to compete internationally, but also because of their contribution to skilled employment, industrial capabilities, and the maintenance of economic activity across municipalities and regions throughout the territory.”
According to Mikel Jauregi, Basque Minister for Industry, Energy Transition and Sustainability, “Hidden Champions are the best expression of our industrial model: companies that compete globally from here and make the Basque Country stronger and more resilient. The challenge is not only to recognise what we already are, but also to ensure that, in 10 or 20 years’ time, the Basque Country has even more companies leading global niche markets.”
