Name Change

Houston stadium rebrands with aspirational new logo to reflect city spirit

BBVA group executive chairman Carlos Torres Vila outside of BBVA Stadium in Houston. Photo courtesy of BBVA

Rebranding is no easy feat for any company, much less one with 75.5 million customers and a presence in over 30 countries. BBVA, formerly BBVA Compass in the United States, recently began the lofty endeavor of rebranding worldwide.

It launched its public rebranding efforts in Houston at an exclusive stadium event on June 13, during which the home of the Houston Dynamo, Houston Dash, and Texas Southern University football was renamed BBVA Stadium.

BBVA group executive chairman Carlos Torres Vila noted that with more than 160 years of history, this was a huge transition for BBVA, but a worthwhile one, as it would help the company live out its three key tenets: the customer comes first, think big, and we are one team.

"Our purpose at the bank is to bring the age of opportunity to everyone," says Vila.

BBVA USA president and CEO Javier Rodríguez Soler cited unity and technology as the two reasons for BBVA's worldwide rebranding.

"Having employees across the globe working under a single brand identity makes it very clear that we are indeed one team," says Soler. "It also underscores for all of us the importance of our commitment to provide our customers with global products and services, the best user experience, and the solutions that help our customers make the best decisions in their lives and in their businesses."

There are many parallels between BBVA and the stadium which shares its name. BBVA is an international company which desires to provide all its customers worldwide with the same level of service. It also tailors its community involvement to each location.

Similarly, BBVA Stadium itself has an international footprint. Per John Walker, Houston Dynamo president of business operations, the stadium is the most internationally programmed soccer stadium in the United States, yet it also maintains a focus on the city of Houston itself — East Downtown and the Greater East End in particular.

Former Houston Dynamo defender Bobby Boswell was on hand to applaud the stadium's impact on the city. Boswell noted that having a stadium contributes greatly to team and civic pride for both pro athletes and young kids who visit the stadium and may be inspired to one day play there.

"I chose to live back in Houston because of the community," says Boswell.

BBVA and the Dynamo and Dash's commitments to the neighborhood were on full display at the stadium renaming. Soler announced that a portion of the proceeds from the inaugural BBVA Classic, to be held on July 24 at 7:30 pm, will benefit the Tejano Center for Community Concerns. The Tejano Center works to develop education, social, health, and community institutions that empower families to transform their lives.

Among other programs, the center runs the Raul Yzaguirre Schools for Success (RYSS). At the stadium unveiling, students from the RYSS STEM Primary Academy's soccer teams stood onstage and helped count down to the official unveiling. When the countdown reached zero, blue confetti filled the room, while outside blue powder exploded in the air and a curtain was dropped to reveal the stadium's new logo.

Vila pointed out that the "A" in the logo is higher than the other three letters, standing for "aspirational." What better image to symbolize the city of Houston, a place of opportunity?

Photo courtesy of BBVA

Vila (left), former Dynamo player Bobby Boswell (center), and Soler (right) at the BBVA Stadium press conference.

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this one's for the ladies

Texas named a top state for women-led startups

A new report finds that the Lone Star State is ideal for female entrepreneurs. Photo via Getty Images

Who runs the world? According to Merchant Maverick's inaugural Best States for "Women-Led Startups'' study, Texas is a great place for women to be in charge.

The Lone Star state cracked the top 10 on the list, earning a No. 6 spot according to the small business reviews and financial services company, which based the study on eight key statistics about this growing segment of the economy. Colorado (at No. 1), Washington, Virginia, Florida, and Montana were the only states to beat out Texas on the rankings—leading the Merchant Maverick team to conclude that "the part of the country that lies west of the Mississippi is great for startups led by women entrepreneurs."

Women-led startups in Texas received $365 billion in VC funding in the last five years, the report found. This is the seventh largest total among U.S. states. Too, about 20 percent of Texans are employed at woman-led firms, which is the fifth highest percentage among states. Roughly 35 percent of employers in Texas are led by women.

A few other key findings that work in female founders' favor: The startup survival rate in Texas is nearly 80 percent. And a lack of state income tax "doesn't hurt either," the report says.

Still there are shortcomings. On a per capita basis, only 1.27 percent of Texas women run their own business. The average income for self-employed women is also relatively low ranking among states, coming in around $55,907 and landing at 31st among others.

This is not the first time Texas has been lauded as a land of opportunity for women entrepreneurs. A 2019 study named it the best state for business opportunities for women. Houston too has proven to support success for the demographic. The Bayou City was named in separate studies a best city for female entrepreneurs to start a business and to see it grow.

Still, as many findings have concluded, the realities of the pandemic loom for all startups and small business owners. The Merchant Maverick study was careful to add: "The pandemic has changed the economic landscape over the past year, and often for the worse.

"This means that not every metric may be able to accurately gauge how a state might fare amidst the pandemic," the report continues. "To help factor in COVID's impact, we included some metrics that take 2020 into account, but it will be a while until we get a full picture of the pandemic's devastation.""

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