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Visa Everywhere Initiative (VEI) - North America

Competition for USA and Canada Startup
Companies for Commerce and Payment Solutions

Agency Type:

Foundation / Corporation

Funding Source:

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VISA

Deadline Date:

05/14/21

Description:

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Opportunity for USA and Canada startup companies to participate in an international competition. Winners will receive a cash prize as well as recognition and exposure for their company. The purpose of this program is to provide new companies with a global platform to share their innovative commerce and payment solutions. The North America region has one of its five spots reserved for a minority-founded startup.

Visa Everywhere Initiative is a global, open innovation program that tasks startups to solve payments and commerce challenges for clients and customers everywhere. It provides a premier global platform to demonstrate your ground-breaking solutions to Visa and Visa’s vast network of clients.

Visa Everywhere is looking for products that deliver innovative payment and commerce solutions to consumers and businesses. These include but are not limited to:

  • Enablers of digital services and digital issuers
    • Blockchain and cryptocurrency
    • Crowdfunding
    • Banking as a service
    • BIN sponsors
    • Issuer / processors
    • Program managers 
  • Digital issuance
    • Blockchain and cryptocurrency
    • Alternative lending
    • Personal financial management
    • Money transfer and remittance
    • Digital banking (aka neobanks)
    • Digital wallets, P2P, and transfers
    • Employee benefits
    • Payables
    • Corporate cards (aka expense management)
  • Value-add for merchants and/or consumers in regard to finance
    • Data and analytics
    • ID, authentication, and security
    • Insurtech
    • Loyalty
    • Merchant services and tools
    • Process and pay infrastructure
    • Retail technology 
  • Small/medium-sized business recovery
    • Money movement (disbursements, intra-account, P2P, payments)
    • Acceptance (e-commerce, mobile acceptance)
    • Risk management (chargebacks, etc.)
    • Brand management (community building, etc.)

Visa Everywhere Initiative is committed to supporting diversity in the startup community. Their aim is to give a platform to brilliant innovators of all races/ethnicities, ages, genders, and sexual orientations. Over the past few years, Visa Everywhere Initiative has helped bring attention to several underrepresented businesses. This year, Visa Everywhere Initiative is also partnering with StartOut to help shine a spotlight on remarkable LGBTQ+ entrepreneurs. StartOut’s goal is to help LGBTQ+ entrepreneurs grow their business.

GrantWatch ID#:

GrantWatch ID#: 159127

Number of Grants:

Visa will select the top 5 finalists for North America region. Next, each region will select a winner that will move forward to the global finals event.

Estimated Size of Grant:

Four monetary prizes will be awarded during the global finals event:
- Overall Winner: $50,000 USD
- Audience Favorite: $25,000 USD
- 2nd Place: $15,000 USD
- 3rd Place: $10,000 USD
The overall winner, 2nd place-winner, and 3rd place-winner are also eligible to win the Audience Favorite prize.

Additional Eligibility Criteria:

Each Participant must be an employee of the Company acting in the exercise of his commercial or independent professional activity and must be a legal resident of an Eligible Country in his/her Region. Participant must also be at least 18 years old (or at least the age of majority in your jurisdiction of residence, whichever is older) at the time of registration. In addition, employees of Visa or its designee(s) may register but are not eligible to participate in any of the virtual competitions and any awards for the 2021 Initiative.

Additional Participation Guidelines - Visa may request valid proof of eligibility, including with respect to identity, corporate organization, age and other relevant documentation, and may disqualify a participant at any time without notice for any reason, including, without limitation, if Visa determines (in its sole discretion) that the provided proof is not sufficient or the participant does not otherwise meet the Initiative’s eligibility criteria, or the participant fails to comply with these Terms or attempts in any way to disrupt or undermine the Initiative or to circumvent any of these Terms.

Pre-Application Information:

North America Finals:
- Applications close: May 14th
- Finals event: June 22nd (live-streamed on TechCrunch)
Global Finals:
- Event: September 14th

The Visa Everywhere Initiative - 2021 Global Edition (“Initiative”) is a virtual engagement beginning 12:00 a.m. United
States Pacific Time (“PT”) on February 9, 2021 and ending 11:59 p.m. PT on December 31, 2021 (“Overall Submission
Period”)

The first step towards getting your startup worldwide attention is to join the Visa Everywhere Initiative network—the same network of startups that our product teams from all over the world access when searching for solutions.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Application: https://visaeverywhere.typeform.com/to/VxWIYB

If you have any questions, please email us at visa@kitesrm.com

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

Canada: Alberta;   British Columbia;   Manitoba;   New Brunswick;   Newfoundland and Labrador;   Northwest Territories;   Nova Scotia;   Nunavut;   Ontario;   Prince Edward Island;   Quebec;   Saskatchewan;   Yukon;

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