MADRID, March 15, 2016 /PRNewswire/ -- BBVA today launches the 8th edition of its BBVA Open Talent competition, which aims to find the brightest and best entrepreneurs who are changing financial services through digital innovation. In the last five years, more than 3,250 companies have entered, with winners raising over €116 million in investments. Early entrants will be considered for participation at WIRED Money 2016, which BBVA is sponsoring for the second year in a row.
BBVA Open Talent is open to early stage startups around the world — companies with less than €2.5 million in investment and €1.5 million annual revenue. The competition is designed to help identify groundbreaking ideas from across financial services. Last year's winners included a blockchain registry for valuables (Everledger), a corporate bond origination platform (Origin Markets) and credit-scoring technology based on household bill payments (Destacame).
Shamir Karkal, BBVA's Head of Open APIs, said, "BBVA Open Talent is BBVA's contribution to a healthy fintech ecosystem — supporting the businesses that are going to improve customers' financial lives through technology."
Registration for this year's BBVA Open Talent is open at www.bbvaopentalent.com and closes on June 27. For a business to make the finals, judges will be looking for evidence of its capacity to transform the financial industry, with scalability, a good team and a good business model.
The startups selected will go forward to the regional finals in Mexico, New York and London, where six winners will be chosen. They will receive prize money of €30,000 each and two non-consecutive immersion weeks with BBVA in Madrid and Mexico City, where they will interact with BBVA executives and experts to receive advice, and to explore business opportunities.
As an incentive to enter early, startups entering before May 2 will be considered for inclusion on the BBVA Open Talent Startup Stage at WIRED Money, taking place in London at the British Museum on June 23, 2016. The chosen startup also will take part in the Madrid and Mexico City immersion weeks.
Leanne Kemp, CEO and founder of Everledger, said: "Winning BBVA Open Talent helped us accelerate the pace of development at our business by connecting us with great people, exposing us to new ideas and getting us to thoroughly review our plans."
There will continue to be a BBVA Open Talent special prize for Financial Inclusion for projects targeting individuals with very low incomes or small businesses. The jury will select one winner in this category who will be invited to attend an international event organized by a leading institution in the area of financial inclusion. The winner will have an opportunity to interact with key players in both the private and public sectors, receive feedback from the experts, and rapidly expand their network of contacts.
NO PURCHASE NECESSARY TO ENTER OR WIN. Open to all entrepreneurs who are natural persons above the age of majority in their respective jurisdictions and entrepreneurial companies that meet the requirements described in the contest terms and conditions. Participants may enter the contest between 2:00 p.m. (Spanish mainland time) on March 14, 2016, and 8:59 a.m. (Spanish mainland time) on June 27, 2016. The Validity Period of the contest runs from 2:00 p.m. (Spanish mainland time) on March 14, 2016, to 2:00 p.m. (Spanish mainland time) on December 31, 2016. For additional information regarding eligibility and prizes and the complete Official Rules please visit: http://www.centrodeinnovacionbbva.com/en/opentalent/terms-conditions.
Sponsor: BBVA Plaza de Santa Barbara 2, 28004, Madrid.
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. The Group is present in the main sustainability indexes.
WIRED MONEY, Together with BBVA is an annual one-day summit which will bring together insight from sector newcomers and entrepreneurs, as well as the established financial powerhouses. It will offer a fresh focus on this fast-changing industry and introduce, explain and predict the changes affecting the world of banking, finance and money. WIRED is recognised as the multimedia authority on the future, in print and digital. Since launch in 2009, WIRED has won a host of awards including both Technology Magazine of the Year and overall Magazine of the Year at the Digital Magazine Awards 2015, as well as Cover of the Year, Magazine of the Year and Technology & Gadget Magazine of the Year at the DMAs 2014, PPA Media Brand of the Year for Consumer Magazines in 2013, the BSME Art Director of the Year for Consumer Magazines in 2013 and the BSME Editor of the Year Award for Special Interest Magazines in 2012.