02 Jul Dallas entrepreneur selected to participate in BBVA Momentum Accelerator
BBVA Compass has selected 16 social entrepreneurs from across the country to participate in its BBVA Momentum accelerator program, designed to help participants enhance their operations to impact the lives of more people. The program includes five months of online and in-person education from July to November 2018. The online component is provided by the Corporate Learning Alliance, while the face-to-face training is conducted by the University of Texas at Austin’s McCombs School of Business.
Each social entrepreneur will be paired with a mentor from BBVA Compass, selected based on their professional background and skill set, to provide one-on-one support for the entirety of the program. At the end of the program, BBVA Compass awards prizes to participant enterprises considered most sustainable and with the highest social impact. In addition, winners may be eligible to receive further investment opportunities, including capital to implement the growth plans developed during the program.
This is the program’s second year operating in the United States, with a class of 20 entrepreneurs from Texas participating in last year’s inaugural class. This year, after the pilot program’s success, the bank expanded the program to consider candidates from across its seven-state footprint.
“Our new wave of entrepreneurs are using their businesses to tackle some of the most challenging issues in our society,” said BBVA Compass Director of Corporate Responsibility & Reputation Reymundo Ocañas. “The larger candidate pool during the selection process this year led to an array of unique solutions to these problems. We are excited for BBVA Momentum’s unique blend of education and mentorship to create opportunities for these visionary and socially conscious entrepreneurs to scale up their businesses and increase their impact.”
This year’s participants were selected by applying for consideration online, ending in early May. From there, applicants were invited to pitch their businesses in front of bank leadership, community partners, and professors during the speed interview stage. Speed interviews were held in locations across BBVA Compass’ footprint.
The top prize for BBVA Momentum in 2017 went to Chad Houser of Dallas-based Café Momentum, a restaurant training platform for juvenile offenders.
This year’s top 16 list included entrepreneurs from across the country. Dallas once again represented by way of Skratch, a mobile platform created by Scott David Bennett, that connects teens with individuals, organizations, and businesses in their neighborhood to accomplish task-based work.