Spain-based BBVA Momentum closed their first session in the U.S. on December 15th, helping American social entrepreneurs scale up their businesses and ideas to impact the world. The session ended with six class finalists pitching to a panel of judges and the three top winners announced: Chad Houser of Café Momentum received the $50,000 grand prize, Margo Baines of Chicks With Class in second received $25,000, and Andy Lovely of Education Opens Doors took third with $5,000.
Chad Houser’s Café Momentum works as a restaurant training platform offering juvenile offenders post-release paid internships to help them reenter their community with life and job skills. Chick With Class offers men and women empowerment workshops and etiquette programs, and Education Opens Doors provides students with their Roadmap to Success Program, allowing them to navigate through high school into college.
“Chad’s belief in and passion for Café Momentum is contagious, but what put it on top is that it already has a viable business model that has a big impact on young, vulnerable lives,” said Reymundo Ocañas, BBVA Compass Director of Corporate Responsibility & Reputation. “And there’s real potential for him to expand into other cities. We’re fully confident this $50,000 award is going to help Café Momentum create more opportunities for these young people to build the kind of lives they deserve to have.”
Before coming to the US, BBVA Momentum drove the expansion of 114 companies in Peru, Mexico, and Spain through visibility, potential funding, strategic support, online and in-person training, and networking opportunities. Those companies now employ 3,200 people and their activities have benefited more than a million people.
For its first entry into the U.S. BBVA reached out to social entrepreneurs in Texas. Those selected received in-person training at the AT&T Executive Education & Conference Center from professors at the McCombs School of Business and online training via the Corporate Learning Alliance. Focus was placed on the most sustainable business models with the highest social impact.
