Challenge

Banco Santander and Oxentia have been running a series of short, lean, high-impact open innovation programmes to source innovation for their own departments as well as for major clients of the bank, since 2021. A further aim was to support and highlight top entrepreneurs working in specific challenge areas and publicise their activity in entrepreneurship support in major challenge areas.

Approach

Oxentia worked collaboratively with the client to launch the first international programme within 14 days and then took over the operational running of the programme. Since the first Challenge, Oxentia supported with external marketing and running of the competition through:

• Evaluation of more than 3,500 applications
• Supported entrepreneurs with 360 hours of mentoring
• Running nine pitch days with a total of 180 finalists
• Broadcasting three virtual awards ceremonies, which were livestreamed on the client’s website, one of which was held in the Metaverse as well as three in-person awards ceremonies at major events.
• Handed out more than 1,000,000 Euros in prize money

Through the years there have been various different Challenges topics, including, Artificial Intelligence (partnered with Microsoft), Sustainable Mobibility (partnered with F1), Education, Employability and Entrepreneurship, Cybersecurity and Blockchain.

Impact

Our client reached over 5,000 entrepreneurs, who are now aware of their entrepreneurship support programmes. Nine challenge programmes produced 180 finalists and 36 winners. These winners have joined the bank’s flagship entrepreneurship programme and have been directly connected with the bank’s open innovation team to connect them to relevant departments within the bank.