AUSTIN, Texas, May 18, 2017 /PRNewswire/ -- Ambitious social entrepreneurs from Texas are gathering today at the McCombs School of Business at the University of Texas at Austin to make their case for joining the inaugural class of BBVA Momentum, an intensive seven-month training program for entrepreneurs who want to change the world through their work.
BBVA Momentum has been operating since 2011 in several countries throughout the global footprint for BBVA, the Madrid-based bank, but this marks its first foray into the U.S. BBVA Compass, BBVA's U.S. franchise, put out the call in March for social entrepreneurs in Texas to apply to the program. On Thursday, judges from BBVA Compass and the McCombs School of Business, where the in-person training portion of BBVA Momentum will take place, will conduct 6-minute speed interviews with the candidates to determine which ones will be invited to join the program.
"We're excited to meet these social entrepreneurs today because they all clearly have a drive to create big opportunities for the people they serve," said BBVA Compass Director of Corporate Responsibility & Reputation Reymundo Ocañas, who will serve as one of the judges. "Our goal today is to identify those with the most sustainable businesses and with the highest social impact, and determine which ones we can help scale up so they can change even more lives for the better."
The candidates will be presenting their businesses on Thursday, May 18, to four judges. In addition to Ocañas, the judges are: Jim Nolen, a distinguished senior lecturer in the McCombs School's Department of Finance; Chris McGillis, BBVA Compass Director of CRA Program Administration; and Mike Prehn, a BBVA Compass Commercial Relationship Manager based in Austin.
The candidates who are unable to attend Thursday's speed-interview session in person will conduct interviews with judges by videoconference on Friday. The winners will be announced next week.
What's in store for the winners
The social entrepreneurs selected to participate in the program will be given seven months of online and in-person training. The online training will be provided by the Corporate Learning Alliance, a joint initiative between the Financial Times and Spain's IE Business School, while the in-person training will be conducted at the McCombs School of Business. Several networking opportunities are also built into the program, giving entrepreneurs the chance to learn from previous BBVA Momentum participants and investors. And finally, BBVA Compass will select those businesses considered most sustainable and with the highest social impact for further investment opportunities.
BBVA Momentum already has driven the expansion of 92 companies with high social impact in Spain, Mexico and Peru. The companies selected to participate have focused on a variety of social problems, whether it's the treatment of cognitive impairment in the elderly or helping the neediest citizens build their own homes out of sustainable materials. Jointly, they employ 3,200 people and their activities have benefited more than a million people.
To learn more about BBVA Compass, visit: www.bbvacompass.com
About BBVA Group
BBVA is a customer-centric global financial services group founded in 1857. The Group is the largest financial institution in Spain and Mexico and it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey's biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. More information about BBVA Group can be found at bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 657 branches, including 342 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 38 in Colorado and 19 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 5th nationally in the total number of SBA loans originated in fiscal year 2016. Additional information about BBVA Compass can be found at www.bbvacompass.com. For more BBVA Compass news, follow @BBVACompassNews on Twitter or visit newsroom.bbvacompass.com.
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SOURCE BBVA Compass