Advice on running a global startup competition from Spanish bank BBVA

Plenty of large companies are launching competitions to help them connect with startups operating in and around their industries.

ssieberBut Scarlett Sieber, Senior Vice President of Open Innovation at BBVA, the Spanish banking giant, says they often underestimate how much effort it will take to make sure the best startups want to participate — and to get them working with the right business leaders in the company.

Sieber, a former entrepreneur herself, was a speaker at the Chief Innovation Officer Summit in New York last month. (An audio clip from her talk is below, along with several slides.) We spoke with her after the event to get her advice on running successful startup competitions. The bank, headquartered in Madrid, has 50 million clients in more than 30 countries; 2014 revenues were $35 billion. It has run the Open Talent startup competition for seven years.

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