Applications for the chance to receive a US$60,000 investment closed last week. In the coming weeks, 500 Startups will select 12 startups to receive investment, office space in Mexico City, and 16 weeks of training to boost their business.
Traditional corporations increasingly show interest in interacting with startups as a means of keeping up with technological trends in the market.
BBVA Bancomer, a strong player within the startup ecosystem, will also give the entrepreneurs access to its financial programs and services.
“We are looking forward to our alliance with BBVA Bancomer, since it is an institution that has come a long way in terms of innovation. We have collaborated with them for a while now through different initiatives, and we’re excited to be able to formally work with such a big player in the industry,” says 500 Startups Partner, Santiago Zavala.
Carlos López-Moctezuma, Head of Innovation, Entrepreneurship and Financial Inclusion at BBVA, said that the bank will allow the selected entrepreneurs to access the Open Marketplace, a platform which allows fintech startups to collaborate with them to find solutions to needs in the financial sector.