BBVA Compass is putting out the call to social entrepreneurs in Texas who are eager to scale up so that they can have greater impact on people's lives.
The bank will select up to 20 to participate in BBVA Momentum, an intensive seven-month training program for entrepreneurs who want to change the world through their work.
BBVA Momentum has been operating since 2011 in several countries throughout the BBVA footprint, but this marks its first foray into the U.S. The program already has driven the expansion of 92 companies with high social impact in Spain, Mexico and Peru. The companies selected to participate have focused on a variety of social problems, whether it's the treatment of cognitive impairment in the elderly or helping the neediest citizens build their own homes out of sustainable materials. Jointly, they employ 3,200 people and their activities have benefited more than a million people.
"BBVA Momentum is a model program, and we're so proud to offer it here in the U.S. now," said BBVA Compass Director of Corporate Responsibility & Reputation Reymundo Ocañas. "We're combining ambitious, socially minded people and companies with the experts at the bank who can teach them how to scale up and have even more impact. What we're doing, together, is exactly how the world should work. In the end, we're going to help these companies help more people."
The social entrepreneurs selected to participate in the program will be given seven months of online and in-person training. The online training will be provided by the Corporate Learning Alliance, a joint initiative between the Financial Times and Spain's IE Business School, while the in-person training will be conducted at a Texas university. Several networking opportunities are also built into the program, giving entrepreneurs the chance to learn from previous BBVA Momentum participants and investors. And finally, BBVA Compass will select those businesses considered most sustainable and with the highest social impact for further investment opportunities.