27-03-2012

Launch of the fourth BBVA Open Talent & Red Innova program

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Yesterday saw the official presentation of the 4th BBVA Open Talent & Red Innova  program, the prestigious international event aimed at entrepreneurs and start-ups that supports the development of innovative technologically-based projects.  This year a new category has been added for banking projects called 'Financial Services'.

The event was presented at BBVA's Innovation Center (CIBBVA) by Gustavo Vinacua Acosta, Director of the Center, together with Ricardo Forcano García, Director of Corporate Expansion at BBVA, and Inés Temes, Managing Director of Red Innova. All of them urged all the entrepreneurs and SMEs with projects up and running for not more than 24 months to present them to BBVA Open Talent & Red Innova.

The entrepreneurs can present projects in two categories:

a) Innovation and Technology

  • Society (health, education, work, travel, tourism, smart cities, etc.)
  • Technological platform (mobile applications security, cloud computing, hardware and software, etc.)
  • E-business, e-commerce
  • Gaming and multimedia
  • Social networks and web 2.0

b) The banking category 'Financial Services'. This includes innovative projects in the area of financial services geared toward the development of new business models or new customer service models in areas such as payment methods, mobile financial services, increased banking penetration in emerging markets, exploitation of transactional information, and virtual money in social networks.

This year, this initiative supporting entrepreneurs has two prizes of ¤100,000 each. It is granted through a 10% holding by BBVA in the share capital of the winning companies, support for promotion, or consulting advice from BBVA.

This year’s program is divided into 3 stages:

1. Presentation of projects: The period for presenting projects runs from today March 26 to April 29, 2012.

2. Public voting and selection of the winners by jury.

  • Projects can be voted for from April 30 to May 15
  • The jury will analyze the projects voted for from May 16 to June 7. From these, it will choose 20 finalists.

3. Exhibition of finalists in the Red Innova event on June 14th and 15th in Madrid.

During the conference, the 20 finalists will explain their projects to the public.  The winner will be announced at the closing celebration of Red Innova on June 15.
The jury is composed up of prestigious figures and representatives of risk capital companies.

Gustavo Vinacua Acosta explains: “At BBVA we have an open innovation model, meaning that we support the talent there is out there, as we know that many innovative ideas and projects emerge outside the organization, and we want to support these entrepreneurs. We have doubled the volume of financial support this year."

Ricardo Forcano García comments: “It's not only a financial contribution. The aim of BBVA is to support the internationalization, development and global visibility of the projects and enterprises that participate in BBVA OpenTalent & Red Innova.”

“Since it was set up in 2009, Red Innova has supported entrepreneurs by creating a meeting point that increased the visibility of the most innovative projects in Latin America and Europe," adds Inés Temes.

About Red Innova

It is an international meeting point for innovation, the Internet, creativity and the spirit of entrepreneurship where Latin America can come into contact with the world. 

With up-to-date presentations and speakers, Red Innova is a key event for discovering the future of the digital environment, developing international networking opportunities and getting to know leaders in the world of technology, innovation and the Internet.

More than 2,000 visitors from Europe, Latin America and the U.S. have the opportunity to access presentations and workshops to discover the latest working tools, new enterprise projects, opportunities for international investment, international success stories and a workshop dedicated to the best developers.

About BBVA Innovation Center

The Innovation Center focuses the BBVA Group's innovation efforts and is the source of a variety of different solutions to ongoing problems. It is a meeting point for a variety of communities: scientists, academics, entrepreneurs and experts from different environments: education, art, science and technology. The center is developing a virtual strategy based on the website, the OpenMind community, profiles in social networks such as Twitter (@cibbva) and Facebook (centrodeinnovacionbbva). This gives it contact with a large number of people and extends and enriches the experience of those visiting it, as well as giving an opportunity for those who cannot make the trip in person. It is a way of extending the capacity to share, listen and learn.

About BBVA

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BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. 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.