Global 1000 companies are facing massive existential and competitive threats, driving them to seek outside innovation to solve their most pressing business challenges. As KITE helps to facilitate innovation partnerships, we have found that the best enterprise-startup partnerships begin with a paid pilot.
These lower-barrier, lower-risk tests show impressive results and, when successful, are quickly scaled across the corporation. The startup wins by earning revenue, proving the value of its solution, and gaining case studies to share with other potential customers. The corporation wins by getting truly innovative, valuable solutions that are nearly impossible to spin up internally.
Global payments technology leader Visa proved this model in 2015 with its inaugural The Everywhere Initiative, which awarded over $150k in pilots for challenges around engaging millennials and driving adoption of Visa Checkout. Today, Visa is launching its second set of challenges (apply here).
As 2015 winner Pete Borum, founder and CEO of influencer platform Reelio, put it, “Winning the Everywhere Initiative has been a huge asset for us, providing tangible proof of the value that Reelio is bringing to the market, and immediately qualifying us to prospective customers, investors, and partners. We are entering into our third campaign with Visa in a year, and look forward to working with them for years to come.”
KITE is honored to again partner with Visa for this year’s The Everywhere Initiative, which has three new business challenges, awarding $50k paid pilots to the winner of each (apply here):
The Everywhere API Challenge: How can startups leverage Visa APIs to augment their products and ultimately drive more powerful commerce experiences for their customers? To learn more about Visa’s APIs, visit the Visa Developer Center.
The Everywhere Global Events Challenge: How can startups creatively leverage today’s dominant social media channels to spark Visa brand engagement among fans at Visa-sponsored events?
The Everywhere Cardless Challenge: How can startups leverage the movement to a cardless world to creatively encourage Visa cardholders to load their Visa cards onto every digital payment platform they use?
Among the criteria Visa is using to judge entries for each challenge:
- How unique, innovative, and/or novel is the solution?
- How scalable is the solution?
- How well will the solution integrate with Visa platforms?
- How easily can the solution be implemented?
- Is the company at a stage of technological development that aligns with Visa’s interests?
To be eligible, you must have a US company and be at least 18 years old.
Apply NOW. Submissions will be reviewed on a rolling basis, so don’t wait. The deadline for application is 11:59pm PDT on May 26, 2016.
Subscribe to our startup newsletter for insider tips on applying for this year’s TEI, follow @getKITE for updates on The Everywhere Initiative and other opportunities with top brands — and share this post with every startup founder you know!