HOUSTON, April 11, 2018 /PRNewswire/ -- BBVA Compass
is expanding its BBVA Momentum accelerator program this year and
inviting social entrepreneurs from across its seven-state Sunbelt
footprint to apply. The bank will select up to 35 entrepreneurs to
participate in the intensive five-month training program for
entrepreneurs who want to change the world through their work.
Interested social entrepreneurs across the bank's seven-state
Sunbelt footprint — Alabama,
Arizona, California, Colorado, Florida, New
Mexico and Texas — should
go to www.momentum.bbva.com/en/ to view the official rules
and to register and apply by May
7.*
BBVA Momentum has been operating since 2011 in other countries
throughout the global footprint of BBVA, the Madrid-based bank, but 2017 marked its first
foray into the U.S. Twenty entrepreneurs, all based in Texas, were chosen for the initial pilot.
"We are opening up BBVA Momentum to our entire footprint this
year after such a successful first year here in the U.S.," said
BBVA Compass Corporate Responsibility & Reputation Director
Reymundo Ocañas. "BBVA Momentum is a
force multiplier. With the training the social entrepreneurs get,
the networking and the increased visibility, we're creating
opportunities for them to extend their impact and influence on
their communities."
Since 2011, nearly 200 entrepreneurs have participated in BBVA
Momentum. The program has driven the expansion of companies with
high social impact in Spain,
Mexico, Peru, Turkey
and the United States. Jointly,
they employ thousands of people and their activities have benefited
more than a million people.
A comprehensive approach
BBVA Momentum's goal is to help social entrepreneurs scale up
and make a positive impact on the lives of more people. Last year,
over several months, participants in the BBVA Momentum Class of
2017 were given access to online and in-person training, strategic
support, networking opportunities and visibility. And finally, BBVA
Compass selected those businesses considered most sustainable and
with the highest social impact for further investment
opportunities.
Chad Houser of Dallas-based Café Momentum, a restaurant
training platform for juvenile offenders, won the top prize of
$50,000.
"BBVA Momentum creates an incredible foundation for social
entrepreneurs," Houser said. "It's more than the $50,000. The human capital that's invested gives
you the opportunity to create a higher return investment. For Café
Momentum, it means we're going to be able to significantly increase
our hours of influence and hours of impact with our kids, making
this program that much stronger."
Training from top-notch educators
Educators at the University of Texas at
Austin's McCombs School of
Business, one of the nation's most prestigious, led the in-person
training at the AT&T Executive Education & Conference
Center in Austin. They gave the
social entrepreneurs their undivided attention over three separate
multi-day training sessions, covering down-in-the-trenches topics
on financial planning, marketing, and how to pitch investors, among
other things.
In December, the participants brought all of their learning to bear
and pitched their businesses to a panel of judges — entrepreneurs,
UT-Austin McCombs School of Business educators and BBVA Compass
executives — and those considered the most sustainable and with the
highest social impact received cash awards. In addition to Houser's
$50,000 prize, Margo Baines of Houston-based Chicks With Class was awarded
$25,000 for second place, while
Andy Lovley of Dallas-based Education Opens Doors received
$5,000 for third.
* NO PURCHASE OR OBLIGATION NECESSARY TO APPLY OR BE SELECTED. A
PURCHASE WILL NOT INCREASE YOUR CHANCES OF SELECTION.
To learn more about BBVA Compass, visit: www.bbvacompass.com
For more news visit: www.bbva.com and
newsroom.bbvacompass.com
About BBVA Group
BBVA (NYSE: BBVA) is a
customer-centric global financial services group founded in 1857.
The Group has a strong leadership position in the Spanish market,
is the largest financial institution in Mexico, it has leading franchises in
South America and the Sunbelt
Region of the United States; and
it is also the leading shareholder in Garanti, Turkey's biggest bank for market
capitalization. Its diversified business is focused on high-growth
markets and it relies on technology as a key sustainable
competitive advantage. Corporate responsibility is at the core of
its business model. BBVA fosters financial education and inclusion,
and supports scientific research and culture. It operates with the
highest integrity, a long-term vision and applies the best
practices. More information about BBVA Group can be found at
bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based
financial institution that operates 649 branches, including 336 in
Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 in New Mexico. BBVA Compass ranks among the top
25 largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). BBVA Compass has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 6th nationally in
the total number of SBA loans originated in fiscal year 2017.
Additional information about BBVA Compass can be found at
www.bbvacompass.com. For more BBVA Compass news, follow
@BBVACompassNews on Twitter or visit
newsroom.bbvacompass.com.
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SOURCE BBVA Compass