Visa announces open-calls for a global innovation competition for fintech startups
Applications are now open for the 2023 edition of the Visa Everywhere Initiative 2023 (VEI), a global open innovation competition that sees startups pitch their solutions to solve payment and commerce challenges. VEI winners will get monetary prizes, as well as gain access and exposure to Visa’s vast networks of partners in the banking, merchant, VC, and government sectors.
The application deadline for VEI in Europe is May 14. Apply here.
About Visa Everywhere Initiative 2023
Visa Everywhere Initiative is an open innovation program that was first launched in the US in 2015, and quickly expanded into a global program. Last year, VEI awarded more than $530,000 in prize money over the course of the competition, which saw over 4,000 startups participate from five regions. To date, nearly 12,000 startups have applied to the program across the globe.
This year’s competition will be hosted at the TechCrunch Disrupt event on September 19 in San Francisco.
Who can participate
Visa is looking for products that deliver innovative payment and commerce solutions to consumers and businesses wordwide. These include, but are not limited to:
- Enablers of digital services and digital issuers,
- Digital issuance,
- Value-add for merchants and/or consumers in regard to finance,
- Small/medium-sized business with brand and risk management products.
This year’s prizes
Three monetary prizes will be awarded during the global finals event celebrated on September 19 at the TechCrunch Disrupt event in San Francisco.
- Overall Winner: $50,000
- Audience Favorite: $10,000
- Visa Direct: $10,000
Prior to the global finals, the following local and regional prizes will also be awarded:
- CEMEA Regionals 1 place: $20,000
- CEMEA Regionals Audience Favorites: $10,000
- CEMEA Regionals Risk Winner: $25,000