Startups and traditional banks come from two very different worlds. But as financial startups begin to play a bigger role in the financial sector, some banks may struggle to relate to the young and dynamic startups. This is not the case for BBVA, which has been engaging with talented entrepreneurs through its BBVA Open Talent contest for the past eight years. The finals will take place this month in Europe, Latin America and the United States (including rest of the world).
The goal is to create long-lasting relationships that can culminate in joint projects, and, at least, in an enriching exchange of knowledge.
Startups must overcome numerous challenges, and BBVA, with Open Talent, acts as a catalyst and advisor to help entrepreneurs successfully channel their business models. While BBVA contributes its experience and knowledge in the world of finance, fintech companies share their ideas, the application of new technologies and the most disruptive designs.
In total, 56 companies from 17 countries have been selected to defend their projects during this last stage of the contest. The first final is held in New York on September 6 and 7, bringing together startups from the United States and Japan, India and Azerbaijan. The first day, the finalists meet with BBVA executives from the most diverse departments, from legal services to new digital businesses, who will advise the entrepreneurs. The presentations will be held on September 7th as part of the Next Money New York event and the first two winners will be selected.
The outcome of the European final will be announced a week later. It combines Spanish, English, German, Israeli, Turkish, Dutch and Latvian entrepreneurs. Along the same lines, the European final is held in London on September 13th and 14th in the context of Next Money London. Derek White, BBVA's Head of Customer Solutions, will be a member of the panel and one of the speakers at the event devoted to innovation in financial services. Likewise, Marco Bressan, Chief Data Officer, will take part in the event with a presentation that will explain the importance of data as a source for creating new products and services.
The Latin American finalists will compete on September 19th and 20th in Mexico. BBVA Bancomer will host the first exchange session to be held on the 33rd floor of its new building, which houses its Innovation Center. The finalists from Colombia, Mexico, Peru and Brazil will defend their projects at Finnosummit Mexico, with the participation of Hugo Nájera, BBVA's Head of Business Development in Mexico.
The final in Mexico will close the BBVA Open Talent contest. The two winners from each region will receive a €30,000 prize each and will take part, along with Paykey (special Wired Money Award) and Musoni (Financial Inclusion Award), in a two-week (non-consecutive) immersion program with BBVA executives in Madrid and Mexico City.
BBVA Open Talent, ready to announce its winners
This September, the BBVA Open Talent finals will take place in Europe, Latin America and the United States (and rest of the world), resulting in the 2016 winners.
With Open Talent, BBVA is approaching the talent and the ideas of entrepreneurs who want to change financial services anywhere in the world. BBVA acts as a catalyst and advisor to help entrepreneurs successfully channel their business models, while fintech companies share their ideas, the application of new technologies and the most disruptive designs.