April 4, 2016
If we were to list the most innovative banks internationally, BBVA would be the most progressive financial institutions to name. Founded in 1857, BBVA has been dedicated to innovation in the global financial ecosystem for almost 160 years already and the upcoming BBVA Open Talent 2016 is a proof of that commitment.
For more than eight years—through Open Talent competition—the bank has proactively supported A players, true disruptors and some of the most innovative and promising ventures and individuals that can make a change in the financial services industry. Success stories from the Open Talent competitions of previous years speak to the scale of possibilities and success opportunities that startups are presented by entering the contest.
The eighth edition of success stories will be written via BBVA Open Talent 2016
Once beginners, young startups such as Kantox, Simple, Madiva and Spring Studio are now BBVA partners in the quest to transform the industry. BBVA Open Talent is a way to get in line with those names and even outpace them for those who will dare to accept the challenge.
Open Talent 2015 brought companies like Everledger, Origin Markets, Lending Front and others to the headlines. Chosen from more than 650 submissions, six winners in the seventh edition are now on their way to the top. A total of €180,000 was distributed among the winners of 2015 to develop projects in collaboration with BBVA. Other FinTech leaders that have gone through BBVA Open Talent in previous editions are Epiphyte, PeerTransfer, Socure and Busuu, among others.
If the majority of competitions are aimed at sourcing ideas, BBVA is looking for continuous partnerships with the best of the best. The winners will go hand in hand with BBVA into a more prosperous future and the bank is as eager to give the best it can to the contestants as it is to learn from the brightest entrepreneurs.
Who will be offered a chance to challenge the global financial ecosystem with the most innovative solution?
As we have emphasized, BBVA Open Talent competition is selective in its choice of the top players, which in itself is a significant asset for any startup the bank will consider. There are certain requirements for applicants to meet across a wide range of segments that the bank has described on its official website.
The process and timeline
The registrations for BBVA Open Talent 2016 have been open from March 14 and will be closed on June 27. A committee of internationally recognized entrepreneurs, innovators, technologists and BBVA executives will assess all applications and choose the top 20 in each of the three regions—Europe, LATAM and USA & rest of the world—who will then compete in the regional finals. Operating across 35 countries and having developed an infinite network across the globe, BBVA is looking for talent from every corner of the world as the innovative talent pool has no geographical limitations.
And there is more!
1) Innovators will have a chance to compete for an ultimate award granted to the best digital solution for SMEs or end-customers with low income. Dedicated to transformation and innovation, though this award, BBVA is looking to foster financial inclusion for underprivileged groups of the population – a noble cause to work and innovate for. The Financial Inclusion Winner will receive a trip for one person to present his/her project at a relevant international event that is related to financial inclusion, which will be determined by BBVA.
2) There is an early bird prize as well. Those projects who enter before May 2 can win a very special prize: the potential opportunity to participate and present your project at a landmark event in the financial world—WIRED Money. Out of the projects entered before May 2, the best will be selected and will stand the chance of inclusion in the WIRED Money Startup stage.
All finalists will be named on August 8. Following the public announcement of the winners, three final events will be held in London, Mexico and New York in September.
Each winner will be granted €30,000 + immersion and interaction program with BBVA experts and executives in Madrid and Mexico City. The winners will be able to enjoy a non-consecutive, two-week program in the mentioned cities to engage intensively with an entrepreneurial ecosystem and BBVA executives.
BBVA Open Talent 2016 will not be just another competition. It is a journey to transform the financial world. Driven by a thirst for adventure, BBVA’s eighth edition of Open Talent will reveal the next generation of innovators who will gain an opportunity to make an impact and leave a mark on the international FinTech scene.
As thought leaders in the financial technology space, the LTP team has seen a variety of competitions, and if there is one challenge to accept, it would be BBVA Open Talent 2016. The registration window is open until the June 27 and with this competition, BBVA is looking to transform FinTech with the top talent from any corner of the world. Learn more about BBVA Open Talent 2016 and register your project to kick-start an adventure to impact the future of the global financial ecosystem.