In recent years, the country has been improving its global position in the ICT development index. Portugal is also becoming an increasingly startup-friendly nation, and currently ranks 29th of 190 countries in the Ease of Doing Business list published by the World Bank in 2018. Startups now benefit from simplified licensing and special legislation designed to make life easier for tech and innovation businesses. “The current innovation ecosystem has created a huge potential in the country’s technology industry,” said BBVA’s head of Open Innovation.
New challenges and opportunities
Speaking before an audience that included many entrepreneurs and experts from the country’s fintech ecosystem, Ainhoa Campo emphasized that innovation is part of “BBVA’s DNA,” and that this collaboration with startups is tremendously valuable for the bank. “We facilitate collaboration with the fintech ecosystem because it is a sustainable way to integrate innovation into everything we do, one that forces us to step outside our comfort zone to face business challenges from new points of view,” she said.
The event also included a presentation by IBM representatives Jorge Soares and Paulo Rodrigues Silva, who explained the potential impact of artificial intelligence, quantum computing and blockchain technologies on the future of digital financial services. Also, a discussion panel consisting of representatives from the startup and fintech ecosystem focused on the future challenges and opportunities for Portugal’s entrepreneur community in terms of innovation. Andreia Madeira, head of Communication and Open Innovation at BBVA Portugal moderated the panel and also acted as host of the event.
To conclude the event, Pedro Muñoz, head of Open Innovation in Spain, took to the stand to explain how the BBVA Open Marketplace platform works. This platform allows connecting directly ecosystem solutions with the bank’s business units Muñoz invited all attendees to connect to BBVA through this platform, and to follow the upcoming BBVA Open Summit event, that will take in Madrid next month.