Spain-based financial services firm BBVA today launched an accelerator program designed to support early-stage financial technology startups.
The BBVA Open Innovation Acceleration Program will work with startups developing fintech and related products or services that have an international outlook.
Each startup will take part in regular mentoring sessions at BBVA’s Open Space in Madrid, with BBVA executives providing advice. Participants will also be encouraged to connect with other entrepreneurs to create a shared learning environment.
Ainhoa Campo, BBVA’s head of open innovation, said: “ 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 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.”