CaixaBank, Global Payments and Ingenico have all partnered to create an international innovation programme.
The goal is to support start-ups in the fintech and business sectors. The project, Zone2boost, will identify the best initiatives in these spaces and the firms get the chance to incorporate the start-ups’ ideas.
Zone2boost is 40% owned by CaixaBank, 40% is with Global Payments, and Ingenico owns the remaining 20% of the programme.
Selected start-ups will receive funding and access to a physical space to develop their projects. In addition, they will work with other innovative companies and a team of mentors.
Furthermore, DayOne, a division of CaixaBank that focuses on providing services to start-ups, will offer tailored financing.
Support will range between six months and two years, approximately, and the companies should evolve from early stages to be ready for market. It will be launched in the last quarter of 2019 and initially invest €5m ($5.68m) over the next three years. It is expected to accommodate around thirty companies.
Juan Antonio Alcaraz, CaixaBank’s chief business officer, said: “The project’s main objective, beyond a successful investment or the entrepreneurial accomplishment of the projects we will support, is to encourage innovation in key sectors for our institution. CaixaBank currently benefits from the collaboration of start-ups in the development of its innovation, but we believe that the time has come to go one step further and become truly involved in the process of developing new business projects for the sector.”
Jeff Sloan, Global Payments’ CEO, commented: “Global Payments is at the forefront of innovation in the payments industry, delivering distinctive technology solutions to our partners and customers worldwide. Together with CaixaBank and Ingenico, we look forward to investing in new businesses and technologies that will enhance future growth in this sector. As a leader in technology-enabled, software-driven payment solutions, this initiative aligns with our commitment to financial technology innovation on a worldwide scale.”
Nicolas Huss, Ingenico Group’s CEO, added: “The payments industry is transforming more rapidly than ever before and the start-up community is a major part of this transformation. For us at Ingenico, innovation is at the heart of our solutions, so we are excited to be innovating alongside the start-up community through the Zone2boost ambitious programme to assist our start-up partners scale up their businesses, and to continue to provide our customers with the best and most innovative payment experience.”