Santander X Local

Award Playbook
1. Table of Contents
1. Table of Contents...................................................................................2
2. Introduction...........................................................................................3
3. Timeline.................................................................................................4
4. Activation - Preparation and planning...................................................5
• 4.1 Award categories��������������������������������������������������������������������������� 5
• 4.1 Naming of the Award��������������������������������������������������������������������� 7
• 4.3 Prizes���������������������������������������������������������������������������������������������� 7
• 4.4 Preparation of Award calendar������������������������������������������������������ 7
• 4.5 Preparation of legal bases (terms and conditions)������������������������� 8
• 4.6 Preparation of Santander X application form�������������������������������� 8
• 4.7 Marketing�������������������������������������������������������������������������������������� 9
5. Open Call.............................................................................................10
6. Evaluation and Selection.....................................................................11
• 6.1 Evaluation criteria �����������������������������������������������������������������������11
• 6.2 Ratification of top 10��������������������������������������������������������������������13
• 7.1 Objectives �����������������������������������������������������������������������������������14
• 7.2 Structure �������������������������������������������������������������������������������������15
• 7.3 Timing �����������������������������������������������������������������������������������������16
• 7.1 Deliverables����������������������������������������������������������������������������������17
• 7.1 Metrics ����������������������������������������������������������������������������������������18
8. Pitch Day.............................................................................................19
• 8.1 Pitch Day organisation�����������������������������������������������������������������19
• 8.2 Pitch Day format��������������������������������������������������������������������������20
• 8.3 Pitch Day scoring��������������������������������������������������������������������������21
• 8.4 Pitch Day jury selection����������������������������������������������������������������22
• 8.5 Winners announcement���������������������������������������������������������������23
9. Frequently asked questions.................................................................24
10. Appendix 1 – template .....................................................................25
2. Introduction
Santander X and Santander Universities’ Local and Global Awards are
entrepreneurship competitions with the aim of identifying, recognising
and supporting the best University Entrepreneurs from priority countries
within Santander’s footprint.

In each country, a local Santander universities team works with their

network of University partners, building upon previous programmes and
initiatives to attract a strong pipeline of innovative entrepreneurs to a
Local entrepreneurship award. The winners of each Local Award receive,
amongst other prizes, an invitation to participate in the Global Award.

The aim of this document is to provide “best practice” guidance on the

design and delivery of all phases of a Santander X Local Award. Figure 1
shows an overview of the stages of a Local Award, details of which can
be found in the corresponding chapter of this document.

Preparation and planning

Open call 100 - 500 applications

received per category

Evaluation and selection 80 shortlisted

per category

Mentoring and support 10 selected

per category

Pitch day 3 winners

Figure 1 - Overview of per category
Local Award Phases
3. Timeline
The timeline above shows the indicative calendar suggested as a starting
point for design of the Local Award. In details, the phases should allow
for a minimum of:
4. Activation - Preparation and planning

4.1 Award categories

The Santander X Local and Global Awards recognise the best
entrepreneurship in two categories:

Launch
“Entrepreneurial projects”
ȷ Must have a functional conceptual
Must fulfill all
the following ȷ Must have a team in formation;
criteria ȷ Must be linked to a University within the local
Santander Universities network*

Example for Launch profile: an entrepreneurial team made up two co-

founders (one of whom is a graduate of an affiliate university), with a
landing page.

*This can include university students of a degree or postgraduate course,

alumni of the last 5 years, researchers, professors, administrative staff,
mentors or entrepreneurs from the university incubator.
 Accelerate
“University Start-ups”

ȷ Must be linked to a University within the local

Santander Universities network*
Must fulfill all
the following ȷ Must be legally incorporated in the country of the
criteria award

ȷ Must be Tech based and must present a disruptive

& innovative solution with the capability to scale
(incremental, breakthrough, or transformational)

ȷ Currently marketing a product and/or service that

Must fulfill AT does not exceed annual sales revenue of US$300k
LEAST one of the
following criteria ȷ Seed funding raised - (range US$100k – US$1m)

ȷ 2-25 employees - full time employee of

organisation

Example for Accelerate profile: a tech-based start-up, incorporated in the

Local Award country, who has a product on the market and have
generated US$150,000 in the previous year.

*This can include university students of a degree or postgraduate course,

alumni of the last 5 years, researchers, professors, administrative staff,
mentors or entrepreneurs from the university incubator.
4.2 Naming of the Award
To present a unified and coherent narrative, the Local Award will be
named as follows:

“Santander X Award | [COUNTRY] [YEAR]”

For example, for the Spanish Local Award, the name will be Santander X
Award Spain 2022.

4.3 Perks and Benefits

Santander X Local Awards reward three winners per category. It is rec-
ommended that prizes are advertised to attract applicants. Minimum
prizes should include:

ȷ An invitation to the Santander X Global Award

ȷ Exposure through the local Santander channels
ȷ Any other prize or perk awarded by the local Santander Universities
team, such as:

ȷ Cash prizes for the winners

ȷ A scholarship for an “English for business” course
ȷ Any other prizes or perks.

4.4 Preparation of Award calendar

The first milestone in setting up a Local Award is the preparation of the
Award calendar. This should follow the timeline presented in section
3, and should follow the format presented in the template found in
Appendix 1.
4.5 Preparation of terms and conditions (legal bases)
The legal bases of the competition must be prepared, approved, and
uploaded to Santander X prior to the opening of the call. A template
legal bases document is provided in Appendix 1. Elements highlighted in
yellow need to be updated for the relevant Local award.

4.6 Preparation of Santander X application form

The application form (“card”) on Santander X should be prepared and
tested prior to launch of the Award. The questions contained in the
spreadsheet found in Appendix 1 represent the recommended minimum
question bank to be included in the card.
4.7 Marketing
Marketing of the call should be carried out through local channels and
networks. During the preparation phase, the team should:

ȷ Produce a long-list of all available marketing channels, and key

contacts for each channel
ȷ Contact the local Santander innovation department to collaborate on
dissemination of the call
ȷ Produce marketing collateral to advertise the call on social media
channels, through press releases, and with partner organisations/
networks.

All marketing materials should be checked for conformity to Award

brand identity with the Santander Universities HQ team before use.

It is recommended that all materials (e.g. pitch day, award ceremony) are
recorded to be used as marketing materials in following iterations of the
Award.

Planning and preparation checklist

• Award naming is aligned with Global Award naming convention
• Legal bases (terms & conditions) have been prepared and approved
• Marketing materials have been prepared and approved
• Marketing channels have been selected and primed
• Santander X application form has been prepared, tested, and
approved
• Point of contact and email address for queries has been established
5. Open Call (6-8 weeks)
The open call phase of a Local Award is the period during which the card
is active within Santander X and applicants can register. It is expected
that the volume of applications received will be high during the first
week, low during the following weeks, and very high in the last days.

It is recommended that the call for application is launched on a week day

(not Friday), and is closed end of business on a Monday.

It is good practice to monitor the number of applications twice per week,

and create a dashboard which keeps an update of application numbers
and key statistics. The dashboard can be used to monitor application
number and quality, and marketing efforts can be increased or changed
in response to low application numbers or high volumes of unsuitable
applications.

The open call period is an opportunity to screen applications for eligibility.

It is advised that a rolling screening process is carried out on a weekly
basis, where all new applications are screened for eligibility criteria for
the category as set out in the competition terms and conditions. In the
case where information is missing or unclear, or where the application
has been submitted in the wrong category, a clarification email should
be sent to the team.

Is the Yes Is the Yes

application in the Assign evaluator(s)
application eligible?
correct category?

No Yes
No

Contact
Contact the Further details
applicant asking No
applicant asking for provided confirming Do not evaluate
to re-submit in the
more details eligibility?
correct category
6. Evaluation and selection (6-8
weeks)
The aim of the evaluation process is to reduce the number of applicants
to 10 in each category, who are then invited to Pitch Day. The evaluation
will be carried out by Oxentia expert evaluators, through the Santander
X platform. Local Santander Universities teams are welcome to suggest
local evaluators, who can be included in the evaluator pool.

It is recommended that each application is scored twice: once by an

Oxentia evaluator, and once by a local evaluator, however if this is not
possible, priority should be given to the Oxentia evaluator.

As a local Santander Universities team, you are invited to suggest profiles

for evaluators you may know within your network. You can do this by
emailing sx.awards@oxentia.com, indicating the following details for the
potential evaluator:

ȷ Name and surname

ȷ Email address
ȷ Sector of expertise
ȷ Entrepreneurial expertise
ȷ Why you think they would be a good evaluator for the Local Award.
6.1 Evaluation criteria
Each application submitted through Santander X should be evaluated
using the following criteria (each criteria is scored out of 10, with 1 being
the lowest score, and 10 being the highest):

Criteria Description Weighting

Potential for The project/startup has the potential to impact a
Impact sector in a responsible and positive way and adds 30%
significant value.

Quality of The project/startup includes a feasible and credible

20%
Innovation new technology, new technology application, new
business model, or a new process. The maturity of
the technology is referenced along with any patents
or IP strategy associated with the project/startup.

Viability The implementation of the project/startup is feasible, 15%

and the team has a plan. A clear business model has
been presented with appropriate objectives.

Scalability There is a clear vision to scale, which is appropriate

for the sector, and the team have made progress on 15%
the project/startup deeming it highly likely for scaling
to be successful.
Competitive The project/startup is justified as unique with
Advantage detailed awareness of how this compares to and 10%
exceeds competitor products/services. Evidence of
sufficient market analysis and traction presented.

Team The applicant presents a well rounded, collaborative 10%

Structure team covering all the pillars of business.
6.2 Ratification of top 10
Following evaluation of all applications, Oxentia will prepare a briefing
pack with profiles for the top 10 applicants per category. This will then
be presented to the local Santander Universities team and the top 10
ratified. These applicants will then be marked as “selected” in Santander
X and will progress to the next stage. The top 10 per category will receive
mentoring support (see section 7).
 
7. Mentoring and Support (4
weeks)
Mentoring and pitch coaching is offered as part of the Local Awards for
all finalists (10 per category). Mentors are bilingual business experts
selected by Oxentia and assigned to each project/startup through a
matching process.

During the mentoring stage, it is essential that the objectives of the

support provided are clearly established from the outset and that the
expectations of the participants be aligned with the mentoring that is
offered.

In this sense, we must clearly establish for both the participants and the
pitch coaches the following aspects of the program.

7.1 Objectives
The mentoring support offered in the Local Awards is specifically
intended to prepare teams for the competition. This objective must be
communicated effectively and clearly to the participants. From the start
of the Award. The expectations of the participants must be aligned with
the objectives of the Award.
7.2 Structure
The mentoring period can be up to six weeks but should not be less than
three weeks. Teams will have the opportunity to meet weekly with their
mentors. The expected number of meetings between mentors and
teams is 3 meetings of 60 minutes throughout the mentoring period,
however there will be cases in which mentors offer extra support to
their teams of entrepreneurs, this is generally left to the individual’s
discretion.

The mentor will receive a simple work guide that will help to structure
and align the support provided to their entrepreneurial teams. This guide
will be provided by Oxentia.

The mentors will be coordinated by Oxentia at all times, however local

organisational teams must provide all operational details which can be
included in the mentoring guide. These include:

ȷ Key dates (end of mentoring, pitch day, awards ceremony date)

ȷ Pitch day format (length of pitches, jury members, pitch day format)
ȷ Prizes and other benefits offered
7.3 Timing
Once the Evaluation and Selection stage is over, the entrepreneurs
should be informed about the next steps and the general guidelines of
the mentoring stage. It is important to prepare a summary of each of
the projects/start-ups for the mentors as early as possible, to allow pitch
coaches to prepare for the first meeting.

Once the matching process has been completed, an introductory email

should be sent to mentors and teams. In it, the entrepreneurs should
be asked to send key information to their mentors, so that the work
meetings are as productive as possible. These include any existing pitch
decks, and any other company/project information which could be useful
for mentors.

From this moment on, entrepreneurs and mentors will be free to

coordinate meetings independently. It is recommended that these
meetings be distributed within the mentoring period in such a way that
allows entrepreneurs to show progress in their presentations.
The possibility of the mentors to attend the final pitching event and
awards ceremony will be left to the organization of each country and its
directors.
7.4 Deliverables
The deliverables for the mentoring period will consist of three completed
meetings between the mentors and their entrepreneurial teams. These
meetings should be directed by the mentors, and organised following
the structured guide prepared by Oxentia.

Once again, it is important to highlight the importance of aligning the

expectations of the entrepreneurial teams from the outset, with respect
to the mentors deliverables.

Oxentia will continuously monitor the development of the mentoring

relationships, and will attend to any unforeseen event or circumstance
that may arise to provide a quick solution without affecting the final
result of the delivery for the entrepreneurial teams.

All teams must upload their final pitch deck to Santander X prior to the
pitch day.
7.5 Metrics
Oxentia monitors the pitch coaching work through anonymous forms
to be filled out by all the participants. Baseline information about the
teams should be collected at the start and end of the pitch coaching
relationship, to assess the impact of the pitch coaching support on the
team’s development.

The following graphic shows the key stages and processes of the pitch
coaching support offered during Local Awards:

Oxentia-only process
8. Pitch day and award
ceremony (4 weeks)
8.1 Pitch Day organisation
The Pitch Day represents the final assessment stage, where an expert
jury evaluates the 10 finalists per category, and selected the three
winners. The Pitch Day date should be scheduled before the Local Award
applications open.

The pitch day can be held virtually or in-person. If held virtually, it is

recommended that a technical rehearsal with all finalists is organised
the day before the Pitch Day, where all finalists can test their connection,
screen sharing, video, and sound. If possible, it is recommended that
the team organising the Pitch Day meet in-person, in a location with
stable and fast internet connection. A minimum of three people are
recommended to run a Pitch Day:

ȷ A host/moderator, in charge of managing the timing and moderating

judges Q&A (and in charge of helping judges)
ȷ A finalists manager, responsible for ensuring all finalists are ready to
pitch and for running all technical checks
ȷ A technical support person.
8.2 Pitch Day format
Finalist pitches should not exceed 4 minutes, followed by up to 4 minutes
of Q&A from the jury and a further 1 minute for presenter change and to
allow judges to score the pitch. The following shows the recommended
timings for a virtual Pitch Day:
Hours from Start
(action duration) Action Lead
00:00 Finalists connect (30 minutes before start) for a
(30min) final technical check. When finalists connect, they Finalist/
are moved into a break-out room with a technical Manager
assistant.
00:30 Judges connect to the main room and are welcomed Host/
(5min) by the host/moderator. Moderator

00:35 Finalist manager brings finalist back to the main

(5min) room. Judges deliver a 1-minute introduction to Host/
themselves. Finalists are sent back to the break-out Moderator
room and then called one by one to deliver their pitch

00:40 Finalists deliver pitches (4min + 4min Q&A + 2 min Host/

(100min) for presenter change and judges to input scores) Moderator

02:20 Judges deliberations managed by host/moderator Host/

(10min) (private). Moderator

03:00 Pitch Day ends N/A

In the case where Launch and Accelerate Pitch Days are held on the
same day, the schedule above is repeated twice.
8.3 Pitch Day scoring
It is recommended that scoring of the pitches is carried out using an
online scoresheet. A template scoresheet is provided in Appendix 1.

The scoring sheet can be hosted online (e.g. on a sharepoint system), and
a live link to the spreadsheet can be shared with each judge. Judges input
scores live after each pitch in their assigned tab, and the host/moderator
uses the “summary” tab to guide the judges deliberation phase. It is
good practice to follow the ranking based on the average score to select
the 3 winners, however the deliberation time can be used to discuss
special cases, or to make a decision between two tied finalists.
8.4 Pitch Day jury selection
The jury selection is key to the success of the Local Award pitch day.
Because of this, we recommend the following profiles for the jury
members:

Role Description
Entrepreneur • Experience setting up successful business or businesses
• Experience in raising funding for start-ups
• Technology focus
• Can provide feedback on the business/management proposition
in the pitch (e.g. team)

Investor • Either an early-stage VC or an angel investor with an interest in

early-stage investments
• Has made investments in a similar kind of sector and of similar
size
• Is familiar with the investment process, and can provide feedback

Innovation • Representative from an accelerator programme, or similar

Export • Understands the start-up scaling process, has supported
businesses during this stage before
• Can provide feedback on the business plan feasibility of the
pitches

Entrepreneurship • Someone with experience in business communication, who can

Expert provide feedback on the pitch itself and on the communication
strategy from the entrepreneur.
• Ideally someone who has been in a mentoring role for start-ups
and/or entrepreneurs.
• Experience in incubation/acceleration programmes or VC.

Santander • Representative of Banco Santander or Santander Universities in

representative the local geography
8.5 Award ceremony
After the Pitch Day ends, the Local Santander Universities team will
be responsible for announcing the winners. It is recommended that
the announcement is made in the week following the Pitch Day, either
through a live event or through an announcement on social media
channels.

An example award video is shown at the following link:

https://youtu.be/XBogtQX49r0

Pitch Day checklist

• Finalists have been sent instructions to join (through a calendar invite)
for the technical rehearsal and the final Pitch Day event
• Jury has been briefed, and have received links to score cards
• Host has prepared a run-sheet with the pitching order
• Host is equipped with a timer
9. Frequently asked questions

What words should be avoided in any official Local Award

materials?
The following terms should be avoided in all marketing materials, on
Santander X and in all live and recorded events:

ȷ “Ideas” – Launch category participants should always be referred to

as projects” and Accelerate category participants should always be
referred to as “startups”.

Can we have a higher number of judges for the final pitch

day?
It is strongly recommended that the number of judges is not more than
five, otherwise judges may not have enough time to ask questions.

When should we contact potential judges for the final pitch

day?
Judges tend to have busy schedules, so contacting them as early as
possible is advised.

What do we do if we do not have enough applications?

In the case where the number of good quality applications is too low,
the open call period may be extended by one week. This must be clearly
communicated and should be stated in the Terms and Conditions of
the Award. Once the extension has been confirmed, marketing efforts
through all channels, but especially directly to potential referring
partners, should be intensified.
10. Appendix 1 – template
documents

Appendix 1: 6, 7, 20

1. Local Award calendar template

2. T&C (Legal bases)

3. Min. required questions for SX

4. Judges Score sheet