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SODECO, or Sociedad para el Desarrollo de las Comarcas Mineras, is a public-private development company founded on October 13, 1988. Established through an agreement between the Principality of Asturias, Hulleras del Norte, S.A. (HUNOSA), and labor unions, SODECO's mission is to promote economic diversification in Asturias' central mining region. The organization is headquartered in Asturias, Spain, and focuses on supporting the creation of new businesses while strengthening existing ones.
Over the years, SODECO has evolved to become a key player in fostering entrepreneurship and creating alternative employment opportunities to mining. The firm currently manages a fund size of approximately $43 million and has approved financial support for 151 business projects, resulting in a total investment of around €705 million. This investment has led to the creation of 5,974 direct jobs in the region.
SODECO operates multiple offices, including its headquarters in La Felguera, Asturias, and additional locations in San Martín del Rey Aurelio and Mieres. The organization collaborates with various local stakeholders, including labor unions and regional development bodies, to achieve its goals.
SODECO invests primarily in the central Asturian mining region, targeting projects that are innovative, economically viable, and capable of generating employment. The firm focuses on several sectors, including industrial, healthcare, energy, and consumer goods. SODECO operates at various stages, including Accelerator/Incubator, Seed, and Seed+ (Extension), providing financial support through capital participation and participatory loans.
The organization emphasizes regional economic diversification, aiming to create alternative employment opportunities and stimulate new economic activity in Asturias' historic mining districts. SODECO's investment strategy includes minority equity participation and loans, with check sizes ranging from €0.12 million to €3 million. The firm also manages a seed capital fund specifically designed to foster new business initiatives.
In addition to financial support, SODECO provides mentoring, business-location assistance, and access to a network of resources to promote entrepreneurship and innovation. The organization actively seeks projects that align with its mission of economic development and job creation in the region.
SODECO has financed a diverse range of projects, contributing significantly to job creation and economic development in Asturias. As of December 31, 2025, the organization has approved financial support for 151 business projects, resulting in a total investment of approximately €705 million. SODECO's contributions amount to around €91 million, leading to the creation of 5,974 direct jobs.
Notable initiatives include:
Through these initiatives, SODECO has played a crucial role in enhancing the entrepreneurial landscape in the region, supporting both new and existing businesses.
Antonio Crespo Campillo - President. He has been instrumental in guiding SODECO's strategic direction and fostering partnerships within the region.
Francisco Fernández Viesca - General Director. Francisco oversees the organization's operations and has a background in regional economic development.
Silvia García Gallego - Financial and Control Director. Silvia manages SODECO's financial strategies and ensures compliance with funding regulations.
Alejandro González Valdés - Investment Analyst. Alejandro evaluates potential investment opportunities and supports portfolio companies.
Consuelo Gómez González - Director of Business Centers. Consuelo leads initiatives to support local entrepreneurs through SODECO's business centers.
Jose Otero Martínez - Seedbed Manager and Investment Analyst. Jose focuses on nurturing early-stage projects and providing guidance to founders.
Luis González Arias - Seedbed Manager and Investment Analyst. Luis collaborates with startups to enhance their business models and growth strategies.
Yolanda Martínez Puente - Secretary and Administration. Yolanda manages administrative functions and supports the board's activities.
Eva Rodríguez Fente - Administration Center of Business SODECO CAUDAL. Eva oversees administrative operations at the Caudal business center.
Marta Díaz Díaz - Administration Center of Business SODECO NALÓN. Marta manages administrative tasks at the Nalón business center.
To pitch to SODECO, founders should visit their official website or contact them via email at sodeco@sodeco.es. It is recommended to include a comprehensive business plan, financial projections, and details about the project's potential impact on the local economy.
While SODECO does not specify a formal application portal, a well-structured pitch deck that clearly outlines the project's objectives and alignment with SODECO's mission will increase the chances of a positive response. Founders can expect a response within a few weeks, depending on the volume of inquiries.
Warm introductions are beneficial but not mandatory. Founders should ensure that their proposals are tailored to SODECO's focus on economic diversification and job creation in the Asturias region.
SODECO runs several programs designed to support local entrepreneurs and promote economic development:
These programs provide valuable resources and support to entrepreneurs, helping them navigate the challenges of starting and growing a business in the region.
As of April 2026, SODECO continues to support various initiatives aimed at fostering entrepreneurship in Asturias. Recent activities include the launch of new programs under the FilmLAB initiative, which focuses on mentoring film projects.
In December 2025, SODECO announced the approval of financial support for 151 business projects, contributing to the creation of 5,974 direct jobs in the region. This milestone highlights SODECO's ongoing commitment to economic diversification and job creation.
Additionally, SODECO has been actively involved in community events aimed at promoting entrepreneurship and innovation, including workshops and networking sessions for local startups.
What are SODECO's investment criteria?
SODECO invests in innovative and economically viable projects located in the central Asturian mining region. The organization focuses on sectors such as industrial, healthcare, energy, and consumer goods, and supports both new and existing businesses.
How can I apply or pitch to SODECO?
Founders can pitch their projects through SODECO's official website or by contacting them via email at sodeco@sodeco.es. It is advisable to include a detailed business plan and financial projections in the pitch.
What makes SODECO different from other investors?
SODECO's unique focus on the central Asturian mining region and its commitment to economic diversification set it apart. The organization not only provides financial support but also offers mentoring, business-location assistance, and access to a network of resources.
What is SODECO's geographic scope?
SODECO primarily invests in projects located in the central Asturian mining region, including municipalities such as Langreo, San Martín del Rey Aurelio, Laviana, Mieres, and others.
What is the typical check size for investments?
SODECO's check sizes range from €0.12 million to €3 million, depending on the project's needs and potential impact.
What kind of post-investment involvement does SODECO have?
SODECO actively engages with its portfolio companies by providing mentoring, business-location assistance, and ongoing support to help them succeed and grow.
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