BBVA Bancomer sponsors 10th generation of 500 Startups Latam

Contxto – Calling all founders – time to update your pitch decks and pick up some new business cards. The 10th annual 500 Startups Latin America acceleration program backed by BBVA Bancomer is just around the corner.

The 16-week training for nascent companies begins on April 1 in Mexico City with “Demo Day” scheduled in July.

Even banks are interested in startups

As a private investor, BBVA Bancomer endorsed this year’s program to support companies in the Spanish-speaking world. Corporations often follow startups to stay updated with new market technologies.

Organizers at 500 Startups Latam couldn’t be more stoked about this collaboration, especially since organizors consider BBVA to be one of the most tech-savvy in the industry.

“We are looking forward to our alliance with BBVA Bancomer since it’s an institution that has come a long way in terms of innovation,” said Santiago Zavala from 500 Startups Latam.

We have collaborated with them for a while now through different initiatives. We’re excited to be able to formally work with such a big player in the industry.

What are the perks of participating?

Granted applications closed February 3, 500 Startups Latam should be announcing the winners by March 11. Any Latin American venture could apply yet only 12 will earn US$60,000 worth of investments. Winners will also receive office space in Mexico City and invaluable mentorship.

Another benefit of BBVA Bancomer endorsement is access to the institution’s Open Marketplace platform. Particularly useful for fintech startups, chosen entrepreneurs can better organize their financial assets on the foru.

What does the 500 Startups group want to accomplish?

500 Startups mission is plain and simple: to nourish new talent while invigorating businesses to compete in today’s competitive global ecosystem. According to BBVA, the firm is the world’s largest venture capital fund with stakes in 74 countries.

Over 150 companies with over 3,000 employees have teamed up with 500 Startups Latin America since its 2011 founding. Included are Konfío, Clip, Conekta, Platzi, Grin, Guru de Viaje, and many others.

Sounds like an admirable cause to me. Good luck to all of this year’s participants!

-JA