Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) has launched a new programme, BBVA Open Innovation Acceleration Program, designed to advance the fintech start-up ecosystem it engages with.
The new programme is aimed at providing start-ups a helping hand in achieving their goals. The start-ups selected for the programme will receive expert guidance and support from senior leaders, over a course of nine-months.
The guidance and support include several sessions on areas like technological implementation, sales techniques and marketing, taking place at the BBVA Open Space in Madrid, approximately once a month, along with online involvement designed by Adventurees and regular meet-ups with a mentor from within the business.
BBVA open innovation head Ainhoa Campo said: “We have taken our time bringing this program to market, because we wanted to test it first with those we work with in the fintech ecosystem to make sure it fits their needs.
“For BBVA, it’s really about showing, again, our commitment to forging strong, lasting, meaningful relationships with the fintech community – and to boost their success rates.
“Long term, we know we can’t and shouldn’t always try to build everything our customers and clients need. Data, sustainability and the closed to open shift is driving the evolution of this industry so quickly, that the model around cooperation has to change.”
For the online element with Adventurees, the entrepreneurs would be challenged around areas relevant to their business strategy, said the banking group.
The programme ensures start-up business leaders interact with BBVA experts in different countries, along with other entrepreneurs, aiming a fast-growth in business with an international outlook.
The programme has been based on the Randy Goldsmith model, working as part of a bigger ecosystem, and is free for the participants to take part.
Campo added: “With this program, we are hoping to help positively drive this change – to work with the wider fintech start-ups ecosystem to support their growth, and in doing so, ensure the future products and services this sector needs will end up in the customer’s hands.”