Santander X Global Challenge | The AI Revolution aims to have a positive impact on society with innovative artificial intelligence (AI) solutions.
The six winning projects will receive up to €120,000 in prize money; membership in Santander X 100, the bank's global community of top entrepreneurs; and mentoring from Microsoft.
The application period will remain open until 27 April.
Madrid, 3 April 2023.
Banco Santander and Microsoft are teaming up with Oxentia Foundation to launch a new global challenge for entrepreneurs from 11 countries. The challenge aims to find innovative artificial intelligence solutions that will have a positive impact to address social challenges.
Santander X Global Challenge | The AI Revolution targets startups and scaleups from Germany, Argentina, Brazil, Chile, the US, Spain, Mexico, Portugal, Poland, the UK and Uruguay. Applications can be submitted until 27 April.
The six winning projects will receive 120,000 euros in prize money: 30,000 euros for the three best startups (10,000 euros each) and 90,000 euros for the three best scaleups (30,000 euros each). In addition, winners will travel to Silicon Valley to attend the awards ceremony on 29 June.
Winners will gain membership in Santander X 100, an exclusive global entrepreneurship community of outstanding Santander X projects. Santander X 100 gives members access to the resources they need to grow: mentoring and training, capital, customers, talent and networking.
In addition, winners will be mentored by Microsoft experts in artificial intelligence to present projects to M12, Microsoft's venture capital initiative.
According to Diego Calascibetta, global director of Entrepreneurship and Open Innovation at Santander Universities, "artificial intelligence is a technological revolution that is growing in leaps and bounds. As in any cutting-edge sector, innovation is key to ensuring development that supports sustainable progress in society. With this challenge, we want to support companies that share our vision on AI as a technology that is destined to be ever-present in our lives much sooner than we thought".
Jens Hansen, General Manager EMEA – Data & AI at Microsoft, says, "At Microsoft, we have always viewed technology as a catalyst for progress, and we believe that AI will have a positive and transformational impact on our lives if used responsibly. We are committed to democratizing the use of AI, which is why we are delighted to join Banco Santander in the Santander X Global Challenge | The AI Revolution".
Steve Cleverley, CEO of Oxentia Foundation, highlights that "exploring exciting new technologies and helping entrepreneurs tackle global challenges in innovative ways is at the heart of our work. We are delighted to collaborate with Banco Santander and Microsoft to launch this new challenge. Artificial Intelligence is playing an increasingly important role in our lives, and we look forward to learning more about the best cutting-edge technology and transformative solutions from the candidates".
Banco Santander is firmly committed to progress and inclusive, sustainable growth. Through Santander Universities, the bank has stood out among the world’s financial institutions as a pioneering stalwart of education, entrepreneurship and employability for 26 years. Since the launch of Santander Universities, the bank has deployed more than €2.2 billion and has supported more than a million students, professionals and entrepreneurial projects through agreements with more than 1300 universities across 25 countries.
Microsoft (Nasdaq "MSFT" @microsoft) is driving digital transformation for the era of the intelligent cloud and the Intelligent Edge. Its mission is to help every person and every organization on the planet do more in their everyday lives.
Oxentia emerged from the University of Oxford’s technology transfer company, Oxford University Innovation. It provides public and private sector clients worldwide with specialist services to manage innovation. It builds on Oxford’s strong tradition of aiding innovators and entrepreneurs in the early stages to develop projects that contribute to the UN Sustainable Development Goals. The Oxentia Foundation was created to support Oxentia in addressing global inequalities through innovation and entrepreneurship.