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Entrepreneurship Updated: 22 Aug 2017

BBVA, recognized in Europe for its support for startups

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BBVA is in eighth place among the top European companies for startup collaboration, according to a study showing that some big companies see startups as "an opportunity rather than a threat".

The study entitled Europe’s 25 Corporate Startup Stars by the British foundation Nesta has analyzed dozens of European companies that support the innovative ecosystem. It places BBVA in eight place, ahead of companies like Virgin, Orange and Telecom Italia.

Cisco heads the list, and Telefónica is in fourth place, behind Rabobank and Unilever. This ranking was compiled by Startup Europe Partnership, a European initiative supported by the European Commission that recognizes companies working with startups.

“The number of interactions has grown in the last five years as increasing numbers see new companies as an opportunity rather than a threat, with both learning from the other”, said Chris Haley, head of research at Nesta.

Alberto Onetti, coordinator of the Startup Europe Partnership, said that the study identifies good practices and helps to increase the interaction between major companies and entrepreneurial projects.

In February, BBVA expanded its fund for investing in financial startups to 250 million dollars. These funds are dedicated to supporting investments in startups working in the area of technology and finance in the initial or more advanced stages of funding.

One of the latest ventures is the acquisition of the Finnish startup Holvi.