MIT Co-lab looks at LABORAL Kutxa to export its business model

MIT Co-lab looks at LABORAL Kutxa to export its business model

2 min.

MIT Co-lab looks at LABORAL Kutxa to export its business model

A group of 24 people from the Bronx Cooperative Development Initiative (BCDI), an initiative from the Massachusetts Institute of Technology (MIT) and other strategic partners from the NYC area travelled to the Basque Country from New York to discover the MONDRAGON Corporation’s cooperative model firsthand. As part of the visit, whose aim was to seek inspiration and ideas, the group visited the LABORAL Kutxa offices to discover the work of the cooperative.

Later, the American delegation attended a conference organised by Óscar Goitia (President of Mondragon International) and Óscar Muguerza (Director of Company Business Development), who were accompanied by Mikel Lezamiz (Head of Cooperative Diffusion at MONDRAGON Corporation) and Michael Peck (US Delegate of MONDRAGON Corporation).


The presentation focused on the development of two points: raise awareness of the functioning of LABORAL Kutxa as a banking entity and present the Gaztenpresa project. This initiative, aimed at fostering employment and the creation of companies, was of particular interest to those present, who posed diverse questions, such as for example, which kind of people can participate. In fact, one of the participants expressed his intention of asking for support from Gaztenpresa in the United States, to set up a foodtruck business.

The delegation was also interested in the functioning of the MONDRAGON Corporation and LABORAL Kutxa. They asked about the application of the model in other countries, the relationship we have with other companies of the corporation, equitable salaries or the distribution of profit. They were also interested in the relationship with financial entities such as the Raiffeisen Bank International (RBI), the leading Austrian cooperative bank and the French group, Crédit Coopératif with which the LABORAL Kutxa joined forces to finance companies.

Bronx Cooperative Development Initiative

The BCDI is an initiative that aims to make the most of the assets in the New York district of the Bronx to carry out economic development that generates wealth and business initiatives in one of the poorest districts in New York State.

BCDI wishes to apply the strategic decisions of the MONDRAGON Corporation to offer this area a comprehensive development model aimed at the generation of wealth and its improved urban development, among other aspects.

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