Now in its second year, Visa’s The Everywhere Initiative is awarding up to $150k to three deserving startups solving important business challenges. Each winning company will get up to $50k and work alongside Visa to implement its idea on the corporation’s global platform.
Recognizing the importance of getting feedback quickly with a pilot, Visa is directly investing in promising ideas without taking equity in a low-risk, low-barrier, frictionless way. Visa wants to work with the most promising ideas and entrepreneurs and is ready to leverage its presence as an innovation leader in order to do so.
“With payment and marketing innovation happening at break-neck speed, Visa is once again asking the startup community for their best ideas to help move the industry forward,” said Shiv Singh, senior vice president, digital and marketing transformation at Visa. “With Visa’s rich set of APIs and SDKs, we are especially excited to see how our open platform can help fuel additional payment innovation with this year’s challenges.”
Applications are due by May 26th. You can apply now.
Without further ado, this year’s challenges:
- The Everywhere API Challenge:
This challenge seeks a solution that furthers Visa’s APIs offered through the Visa Developer Platform. The platform offers APIs that “accelerate access to Visa’s products and services including payment methods such as Visa Checkout and Visa Direct; general services such as Visa Foreign Exchange Rates and Visa Global ATM Locator; and risk and fraud services such as Mobile Location Confirmation and Visa Transaction Alerts.” There is a lot of opportunity if your startup focuses on IoT, P2P value transfer, financial inclusion, wearables, and charitable giving. Get instant traction for your startup with up to $50k and a blue chip partnership by submitting your application here.
- The Everywhere Global Events Challenge:
If you are in the social, digital, and/or mobile digital marketing sphere, this challenge is for you. Nowadays you need not be at an event to have a glimpse into what is going on— social media has connected attendees and those on their couch or stuck at work in an authentic way. Visa is seeking startups that will help them authentically engage fans at Visa-sponsored events. Have an idea for building something in the event space? Apply here.
- The Everywhere Cardless Challenge:
Let’s face it: the world is going digital, and Visa wants you to help them be at the forefront of the movement. Leveraging all the mobile platforms used by Visa holders, Visa wants you to find a solution that encourages all Visa users to make moves towards being cardless. Apply here.
Check out this video to learn more.
Applications are now are open until May 26th— so you better act fast. This is not an opportunity you will want to miss. Applications are evaluated on a rolling basis, so there’s absolutely no sense in delaying! Winners will be revealed July 29. Apply here.
What do you have to lose? Learn more about the challenges here.
Applicants will be judged on innovation, scalability, integration ability with Visa platforms, implementability, and if the startup’s technology aligns with Visa’s strategic focus.
Last year’s winners included awesome startups like Reelio, Virgil, Flag, and LISNR, who received cash and mentorship as well as a genuine partnership with Visa to help them get off the ground. Given the competitiveness and impressiveness of the pool, several startups who did not win also received support from Visa.
This year’s initiative kicked off in Austin at SXSW with the Everywhere Lounge, featuring coffee at a Biometrics Bar (how often do you pay for your java with an eye scan?). With several events in the space, including a talk with Park and Recreation’s Ben Schwartz, Visa, in partnership with KITE, held a competition for $25k towards building a prototype for the Everywhere API Challenge. Applications for the main competition are being accepted now until 5/26. Apply now.
In addition to pilot funds, winners will receive year-long mentorship from Visa’s product and technology teams.
2016 SXSW winner Adam Neff, CEO and Cofounder of Ledge, found the experience to be transformative beyond the cash, giving the company credibility as well. “Visa is the perfect partner to take Ledge everywhere we want to be. Visa is the most trusted brand in payments and this partnership gives us immediate access to millions of consumers who already know and trust the Visa brand.”
All that, plus the opportunity to test your ideas on a global platform at unparalleled scale.
“We’ve already seen five outstanding ideas from a diverse group of start-ups in Austin,” said Singh. “With Visa China running its own Everywhere Initiative competition this year, and adding our student initiative, we look forward to growing The Everywhere Initiative to startups, students and developers all across the world who want to help us build the future of payments and engage consumers in new and dynamic ways.”
Visa founder Dee Hock said, “Ordinary people can consistently do extraordinary things—if they have the freedom and motivation to do so.”
Isn’t it time your startup did something extraordinary?