Banco Sabadell launches start-up programme

Banco Sabadell launches start-up programme

Spain's Banco Sabadell has launched a start-up programme, promising cash and support for 10 young, innovative digital and technology firms.

Digital entrepreneurs focusing on areas such as financial services, e-commerce, mobile, social and security are being invited to apply for the BStartup 10 scheme by 20 December, with the selected firms given up to EUR100,000 each.

In addition they will get six months of support from a team of Banco Sabadell staffers and digital entrepreneur Dídac Lee. These experts will help their charges on product development, business training, recruitment, networking, and fundraising.

The scheme is part of a wider BStartup project which will be led by Yolanda Pérez, a recent hire who was formerly the director of start-up and business programmes at Barcelona Activa.

The bank is setting out to create a network of over 50 'start-up friendly' branches, with employees receiving special training to help them deal with young firms.

Banco Sabadell says the programme will be applied across the board - involving several business areas including risk, technology and venture capital - as it bids to sniff out entrepreneurial initiatives that may be high risk but with the potential for big rewards.

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