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SMEs are a critical driver to economic growth, employment and social cohesion. Helping businesses prosper is at the heart of Santander Group’s mission. That is why, in these challenging times for SMES, Santander X launches, in collaboration with Oxentia Foundation a new global challenge to identify startups and scaleups with innovative solutions that can help SMEs digitalize their businesses, open up to new opportunities and evolve the way they operate.
One challenge, two main issues
Two juries (one for startups and one for scaleups) will be assessing the participants, based on how their solutions respond better, and in a more innovative and scalable manner, to the below questions.
Digitize your business
How can your solution help SMEs digitize their business and start offering their products and services through online channels and tools?
How can your solution help SMEs open up new opportunities, by accessing new digital customers and markets at a lower cost?
Become more efficient
How can your solution help SMEs take control of their business and better understand their financial and strategic status in order to maximize opportunities and reduce risks?
How can your solution help SMEs automate financial and operational tasks, at the same time they gain better insights that help them out in their long term strategy?
For whom is it meant?
Entrepreneurs from the countries where Banco Santander operates, with solutions that contribute to helping businesses prosper.
Startup category: that is legally incorporated, is currently marketing a product and/or service, and annual revenues do not exceed five hundred thousand euros (<€500,000).
Scaleup category: that is currently marketing a product and/or service with annual sales above five hundred thousand euros (>€500,000).
Innovation component: that presents an innovation in its product, process or service and it is scalable.
Prizes
120.000 euros*
for the development of the top 4 winning solutions
*2 startups winners: 10.000 euros each.
2 scaleups winners: 50.000 euros each.
Mentors
Specialized mentorship for the protection of the intellectual property of the innovation of the solutions, facilitated by Oxentia Foundation.
Promotion
For the 4 winning startups on Social Media and Banco Santander official channels.
Other benefits
The opportunity, if desired, to present their solutions to the Fitech Station, the Santander Group's Open Innovation team.
The winners will also receive a direct invitation to participate in the next edition of Santander X Global Award*
* We reserve the right in case it is not convened
How are the winners selected?
Registration open until Jun 24tht, 2021.
Selected by international professional experts in the evaluation of entrepreneurship solutions.
The 20 finalists present their solutions to a cross sector jury of international leaders in SMEs, entrepreneurship, innovation and investment.
Top 4 winners
- 2 startups
- 2 scaleups
Our Commitment
Banco Santander and its commitment to SMEs: new support for progress
Banco Santander, with four million SME customers, has been chosen as the World’s Best Bank for SMEs 2020 for the third time in five years at Euromoney's "Excellence in Leadership" awards. The bank's objective for 2021 is to continue helping small and medium-sized enterprises prosper by leveraging the group's global scale.
Oxentia Foundation and its commitment to innovation and global entrepreneurship
Oxentia developed out of the University of Oxford’s technology transfer company, Oxford University Innovation, with the aim to deliver specialist innovation management services to clients in the public and private sector all over the world. Oxentia’s approach is grounded in a strong Oxford heritage to globally support early-stage innovators and entrepreneurs to promote innovative projects impacting the UN’s Sustainable Development Goals. The Oxentia Foundation was created to support Oxentia’s goal to address global inequalities through innovation and entrepreneurship activities.
