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

Visa Everywhere Initiative (VEI) - North America


Agency
Foundation

GrantWatch ID#
159127

Funding Source
VISA
Array ( )

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

Important Dates
Deadline: 03/31/22 - Deadline for North America competition Save

Grant Description
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 American region also has special-edition finalist categories for minority-founded startups.

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

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.)

In addition, Visa will determine a designated number of Special Edition-Finalists (collectively, the “Special EditionFinalists”) from the North America Region:

  • Black History Special Edition-Finalists
  • Women’s Special Edition-Finalists

For additional information on Special Edition Finalists, see: https://usa.visa.com/dam/VCOM/global/visa-everywhere/documents/visa-everywhere-initiative-2022-terms-and-conditions.pdf#page=2

The Special Edition-Finalists will be invited to present their Submissions either virtually or in-person, as determined by Visa in their sole discretion, at the Special Edition Finals. 

Aside from the monetary award identified above, Visa will hold one (1) or more mentorship meetings for the Global First Award Recipient. At the mentorship meeting(s), representatives from Visa or its designee(s) (selected at Visa’s sole discretion) will discuss the Global First Award Recipient’s Company and may provide informal business insights and advice. The mentorship meeting(s) will take place at a location of Visa’s choosing and the Global First Award Recipient may participate in-person, via telephone, or via videoconference. For additional information, see: https://usa.visa.com/dam/VCOM/global/visa-everywhere/documents/visa-everywhere-initiative-2022-terms-and-conditions.pdf#page=9



Recipient

Eligibility
  • Others (see text field entitled "Additional Eligibility Criteria" for clarification)

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.

For additional eligibility information, see: https://usa.visa.com/dam/VCOM/global/visa-everywhere/documents/visa-everywhere-initiative-2022-terms-and-conditions.pdf#page=5

You are not eligible to participate in the Initiative if you or your Company meet one (1) or more of the following criteria:
- You or your Company has won a previous Visa Everywhere Initiative (unless there is a new viable product, service, solutions or innovation);
- You or your Company has signed a commercial agreement with Visa; or
- You or your Company is a Visa principal member.

Pre-Application Information
North America:
- Applications close: March 31, 2022
- Regional finals event: June 1, 2022 (live-streamed on TechCrunch)
Global Finals:
Event: November 2022 (specific date TBD)

Black Community edition:
Supporting Black History Month
Applications close: February 6, 2022
Finals: February 28, 2022

Women's Edition:
Supporting International Women’s Month
Applications close: March 8, 2022
Finals: March 30, 2022

The Visa Everywhere Initiative - 2022 Global Edition (“Initiative”) is an engagement beginning 12:00 a.m. United States Pacific Time (“PT”) on January 17, 2022 and ending 11:59 p.m. PT on December 31, 2022 (“Overall Submission Period”).

For 2022, the plan is to have an ‘always on’ style recruitment form that is live through December 2022. This form will not be specific to a program or region, but rather the intent to notify Participants about upcoming opportunities with Visa and/or Visa clients but also automatically get registered for the Initiative, which provides a great stage to demonstrate their ground-breaking solutions and get the attention their Company needs.

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

Special Edition Information: https://usa.visa.com/visa-everywhere/everywhere-initiative/special-edition-competitions.html

Estimated Size of Grant
Five monetary prizes will be awarded during the global finals event:
- Overall Winner: $100,000 USD
- Audience Favorite: $20,000 USD
- Visa Direct: $20,000 USD
- 2nd Place: $20,000 USD
- 3rd Place: $10,000 USD

The overall winner, 2nd place-winner, and 3rd place-winner are all eligible to win the Audience Favorite prize.

Prior to the global finals, the following local and regional prizes will also be awarded:
North America -
- Overall winner: $10,000 USD
- Audience Favorite winner: $10,000 USD
- Visa Direct winner: $10,000 USD

Black Community Edition: Supporting Black History Month:
- Overall winner: $10,000
- Audience Favorite winner: $10,000

Women's Edition: Supporting International Women's Month:
- Overall winner: $10,000
- Audience Favorite winner: $10,000

Contact Information
Application: https://visaeverywhere.typeform.com/to/l31UBPUi

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

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