BBVA announced on Thursday the launch of its new accelerator program that is designed to “foster” success among the fintech startup ecosystem. The program, called BBVA Open Innovation Accelerator Program, aims to give startups a helping hand for success.
“Over the course of nine-months, those selected for the program will receive expert guidance and support from senior leaders at the bank on a range of topics. These include several sessions on areas like technological implementation, sales techniques, and marketing. The sessions take place at the BBVA Open Space in Madrid, roughly once a month, as well as online involvement designed by Adventurees and regular meet-ups with a mentor from within the business.”
BBVA also reported that the program is aimed towards startups hat have an early stage or seed profile, and are developing fintech or fintech-related products or services, by working with a big bank like BBVA participants will be able to draw on the expertise the bank has to foster their growth. While sharing more details about the accelerator launch, BBVA’s Head of Open Innovation, Ainhoa Campo, stated:
“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.”
Campo went on to add:
“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.”