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Blockchain technology is revolutionising the world just as the internet did in its day, and an increasing number of sectors see the enormous potential in this type of technology in terms of redefining and enhancing their business models.
With the aim of supporting innovation to improve productivity and employment, as well as to solve problems relevant to society, Banco Santander and Oxentia Foundation are launching the Santander X Global Challenge | Blockchain and Beyond to seek out startups and scaleups with innovative and scalable solutions using blockchain technology.
At the event in Decentraland, and with a space designed by Polygonal Mind, the 6 winners of this global challenge, apart from the cash prize and access to Santander X 100, received an exclusive NFT designed by Oxentia Foundation. In addition, users who access to watch the final via streaming on Decentraland got the wearables of the event: a cap and a bracelet that will allow them to customize their Metaverse avatars.
Winners
Winning Startups
Prosperas
Financial inclusion for excluded people from the financial system. Prosperas harnesses anonymized behavioural metadata from mobile phones to create an accurate alternative credit score on a blockchain-based, machine learning enabled platform.
Finteum LTD
Global interbank treasury platform for intraday FX swaps and repo. Finteum is creating a global financial market for intraday FX swaps and repo. Rather than replicating existing transactions on-ledger, our platform uses DLT and atomic settlement methods to create a way to optimize intraday liquidity usage that was previously not available to bank treasury teams.
Agrotoken
A blockchain company that was first to create stablecoins backed by Agro-Commodities. By creating stable coins enabled by blockchain and smart contracts we create new, unique and improved financial products that will satisfy all financial needs in superior ways.
Winning Scaleups
Validated ID
A qualified trust service provider. Validated ID want to solve the problem of the digital identity on internet with the paradigm of self sovereign identities, aka decentralized identities, on top of blockchain. The user will be able to control all his personal information from an ID wallet as he do in his physical life but in a more secure way.
Xcapit
Self-custodial, multichain and open-source wallet to enable access to DeFi. They've developed, along with UNICEF, an open-source and self-custodial crypto wallet that allows people to save and invest their capital in decentralized investment products, without the need to be banked or have financial knowledge.
Almond Fintech
International remittance company enabling payments using blockchain. It´s building an API for financial and non-financial institutions worldwide, so individuals can send money cross-border affordably, quickly, and securely. Almond manages the transfer process using stablecoins through local exchange partners, adhering to local regulations.
Honorable Mentions
Origino
Build traceability through tokenization. For primary supply chain companies who need to build trust and transparency. The solution facilitates traceability of any supply chain product. NFT traceability also gives proof of existence of the goods, so they can be used as warrant or collateral to obtain credits and insurances, unlocking a trillion dollar market.
Valora
Mobile crypto wallet that enables global payments and easy access to decentralized finance apps. The user can send funds to any phone number in the world and easily access decentralized finance apps. No long wallet addresses, all the user need is a phone number.
What are we looking for?
Solutions should focus on how to improve user privacy and security in blockchain networks, fostering the adoption of Decentralised Finance (DeFi) and tokenisation, and enhancing and expanding digital interactions with users through concepts such as Web3 and the metaverse.
Who is this aimed at?
Technology-based startups and scaleups from 11 countries, with scalable and innovative solutions in the use of blockchain technology.
Startup category: legally incorporated in one of the participating countries, with a maximum annual income of $300,000, with $100,000 to $1 million capital raised and 25 employees maximum.
Scaleup category: legally incorporated for at least two years in one of the participating countries, with an annual income over $300,000, more than $1 million capital raised and over 25 employees.
Awards
€120.000
- €30,000 for the three winning startups
(€10,000 each) - €90,000 for the three winning scaleups
(€30,000 each)
Access to Santander X 100
The winners will become part of Santander X 100, the global community of Santander X's most outstanding entrepreneurial projects, which gives them access to the resources they need to grow: advice and training, capital, customers, talent, networking opportunities and other valuable resources.
Other benefits
The six winning solutions will be promoted on Banco Santander's social media and official channels.
Finalists will get the chance to present their solutions to Fintech Station, Banco Santander's open innovation team.
How are the winners selected?
Deadline for applications: 9 June 2022.
The jury is made up of international experts/professionals in the evaluation of entrepreneurship solutions.
The 20 finalists will present their solutions to a jury made up of international experts in entrepreneurship, innovation, and bank executives.
6 winners
- Three startups
- Three scaleups
20 finalists
Our commitment
Banco Santander
Banco Santander, leaders in responsible banking, are firmly committed to progress as well as inclusive and sustainable growth. Their pioneering and long-standing commitment to education, entrepreneurship, and employment through Santander Universities, which has been operating in this area for over 25 years, sets Banco Santander apart from the world's other financial institutions. Since its inception, the bank has allocated over €2.1 billion and supported more than 790,000 students, business professionals, and entrepreneurial projects through agreements with over 1,000 universities and institutions in 15 countries.
Oxentia Foundation
Oxentia grew out of Oxford University's technology transfer company, Oxford University Innovation, with the aim of providing specialised innovation management services to public and private sector customers throughout the world. Oxentia's approach builds on Oxford's strong tradition of globally supporting early-stage innovators and entrepreneurs to promote innovative projects that impact the UN’s Sustainable Development Goals. The Oxentia Foundation was created to support Oxentia's goal of addressing global inequalities through innovation and entrepreneurship activities.