IBS Journal June 2015
Case study: Visa Europe Collab
Visa is among those trying to harness third party innovators. To do this, it has had an innovation hub in San Francisco since mid-2014 and has recently set up a European equivalent, with bases in London, Berlin and Tel Aviv. The aim is to provide an environment for start-ups and entrepreneurs to turn their ideas into proof of concepts and then intocommercial offerings.
‘Visa Europe and Visa International have a history of innovation over many years,’ says Steve Perry, founder and co-creator of the Visa Europe Collab project. ‘But this frees us up a little from all of those good corporate controls to be a bit more inno- vative, a bit more hip.’ The idea, pioneered in San Francisco, is to have innovation hubs where Visa can nurture the ideas of start-ups and entrepreneurs. The San Francisco hub was launched in July 2014 as One Market (the 112,000
space is at the city’s One Market Street
address). The European hub is branded as Visa Europe Collab and has a centre in Shoreditch in East London, another in Tel Aviv and with another facility to follow shortly in Berlin. Another hub in South- East Asia is envisaged. Perry emphasises that this is not
about Visa buying or taking stakes in the new ventures but about helping ideas to
‘I would stress the word, partner,’ he says. Given its size, Visa has little or no inter- est in making investments, so will instead provide tools, insights and connections to
Caption ©Copyright
Visa One Market, San Francisco
44 © IBS Intelligence 2015
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case study: visa europe collab
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