Ainhoa Campo

Spanish bank BBVA is all set to launch its fintech acceleration program, BBVA Open Innovation Acceleration Program that aims to provide selected businesses with the required guidance needed over the course of nine months. The program focuses on startups that have an early stage or seed profile and are in the process of developing a fintech or fintech-related product or services.

The program involves several sessions on areas like technological implementation, sales techniques and marketing. It is expected to ensure that start-up businesses can interact with BBVA experts and entrepreneurs in different countries.

BBVA’s Head of Open Innovation Ainhoa Campo, said, “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. With this program, we are hoping to help positively drive this change – to work with the wider fintech 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.”

The sessions will take place at the BBVA Open Space in Madrid. The program has been based on the Randy Goldsmith model and its focus on the bigger ecosystem.

by Megha Bhattacharya
Market Analyst at IBS Intelligence