Startups are clocking to Austin Texas today for the annual pilgrimage known as South by Southwest Interactive. While some local media in Austin are suggesting that the two week long festival is shrinking it’s actually growing. The startup track is one of the fastest.
Visa is looking to harness it’s presence on the ground at sxsw this year, with three specific marketing goals.
Reaching millennials, attracting and retaining affluent customers and promoting Visa checkout are the three focuses for this year’s trip to Southby for the credit card company.
AdAge reports that Shiv Singh, senior VP Global Head of Digital and Marketing Transformation for Visa has devised a plan to recruit startups to help with these initaitives.
The first way they are doing this is with with $50,000 startup contest that will begin March 14th and continue through April 30th. Singh has dubbed the challenge the “Everywhere Initiative” playing off Visa’s “Everywhere You Want to Be” slogan.
“We’re in such a transformative time that businesses and marketing organizations can’t just depend on themselves or their agencies to solve their business problems,” said Mr. Singh. “They have to widen the neck.”
This isnt the first time Singh has turned to startups. When he held a similar position at PepsiCo he was responsible for a Pepsi accelerator as well as an innovation lab.
Visa will also have a Visa Lounge at sxsw and kick off a security road show.