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40% of the startups that apply for the Bankia Fintech by Innsomnia call are foreign

The enrolment periods will be open until 14 September and 30 September for national and international startups, respectively.

Communication Bankia

By  Communication Bankia

Publish on 
04 September 2018 - 10:30

  • The support provided by 17 incubators from other countries through The Talent Route network is a key element in the search for international talent
  • It is expected that this call will increase the number of selected startups from 13 to 20

Bankia Fintech by Innsomnia, the first fintech incubator and accelerator in Spain, is gaining international interest with each edition. In the last edition, of the 114 startups that submitted their application, 35% were from abroad, and for the present call “40% of those already registered are from abroad, namely from Israel, Argentina, Uruguay, Peru, Holland, Portugal, the USA and Switzerland”, as indicated by the Innsomnia programmes director, Francesc Pons.

The Talent Route international network of accelerators created by Innsomnia “is becoming a key element in attracting the best talent”, explains Pons. The Talent Route is the first international alliance of independent accelerators that includes 17 incubators and accelerators, one for each country, which share the dissemination of their calls and the monitoring of the work carried out by the startups.

This new international dimension is enabling Bankia to gain access to best international talent for the transformation of banking towards the digital era. “The interests of international startups for working on the new project are very diverse, from those that want to acquire experience in the internationally renowned and competitive Spanish banking market to those that aspire to position themselves in Spain to subsequently internationalise their works to other Latin American markets, or the startups of the Southern Cone that intend to use their experience with Bankia to become services suppliers in Europe”, says Francesc Pons.

The novelty for this call is the expected increase in the number of selected startups increasing from 13 to 20. The Bankia Fintech programme continues to work with one of its most attractive features: not requesting any kind of equity from the startups, that is, they are not required to provide any capital.

Another attractive feature within the programme is the high percentage of final procurement by Bankia, since to date 70% of those selected have ended up working for this entity.

The deadline for enrolment of national companies ends on 14 September, while for international ones this has been set at 30 September. A meeting will be held in Madrid on 6 September with part of the ecosystem to present to them a study of the current fintech novelties and trends.

In addition, every fortnight, the startups pertaining to the Bankia programmes receive a report on the international novelties, which allows them to not only update their knowledge and get to know the main changes, but which often helps them to pivot and grasp ideas that can transform their projects.


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