BBVA has joined forces with Startup Valencia to boost the entrepreneurship ecosystem of the Valencian Community. The aim of this alliance is to consolidate the region’s position as a hub for tech and innovation companies.
The financial institution has become a Corporate Partner of Startup Valencia, which will enable it to actively contribute to the revitalisation and development of the Valencian ecosystem, participate in open innovation programmes with startups, and interact with agents to share experiences and best practices.
BBVA will structure this cooperation through BBVA Spark, a new business unit specialising in high-growth innovative companies. Its Head of Banking in Spain, Verónica Ruiz, says, “Valencia has become one of the main tech hubs in Spain in recent years thanks to the promotion of initiatives such as Startup Valencia, an association that is developing an ecosystem with great opportunities for growth”.
“This collaboration is another example of BBVA’s commitment to entrepreneurship and innovation as key elements for tackling the challenges of today and tomorrow with the support of entrepreneurs,” she said. BBVA’s agreement with Startup Valencia will enable it to actively contribute to the development of the region’s tech and innovation ecosystem, participate in programmes to connect with startups, attend meetings with agents of the ecosystem, and exchange experiences and best practices.
“At BBVA Spark we want to be the financial partner for high-growth companies with innovative models, providing not only traditional financial products, but also more typical debt fund products such as venture debt or growth loans. With this comprehensive proposal, we want to contribute to the growth of the Spanish business fabric and to that of startups, accompanying and supporting them in their development,” adds Ruíz.
For Juan Luis Hortelano, president of Startup Valencia, “The partnership between BBVA Spark and Startup Valencia is a great opportunity for Valencian entrepreneurs as they will have the necessary guidance and financial products adapted to their needs integrated into their own ecosystem”.
This BBVA Spark alliance comes shortly after the ones it signed with the BAT Tower in Bilbao and the Health Hub in Barcelona. With these agreements, BBVA Spark aims to promote innovation and help the main companies in Spain that are transforming various sectors with technological and digital proposals to grow.
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