To address this need, MasterCard today announced the launch of Start Path Global – a unique six-month partnership programme for startups that extends Start Path’s existing footprint in a greater number of countries globally across Asia Pacific, the Middle East, Africa, Latin America and Canada.
The programme builds on Start Path’s efforts over the past 18 months to provide a variety of operational support, partnership, or investment for over 40 commerce related startups , including Nymi, ZenCard, BillHop and Gone.
Start Path Global puts the startup first: there is no need for a startup to relocate and no equity is taken. Instead, they are provided with immediate access to more than 60 MasterCard experts, opening the door to pilot opportunities with MasterCard or MasterCard customers, while retaining full ownership for any intellectual property (IP) developed.
“Start Path thoughtfully connects the right partners with the right startups to build the future of commerce together,” said Stephane Wyper, Global Lead of MasterCard Start Path. “And now with our global expansion, we will be able to target a broader range of startups and help them achieve success.”
As Start Path expands internationally, startups will also benefit from access to Start Path Partners, a group of more than 20 leading companies in banking, retail, and technology including Rakuten, SAMSUNG CARD, TSYS, Target, Bank of Montreal, and Santander InnoVentures. Start Path Partners was created to provide these customers with a first look at unique technologies and to offer startups a direct line into these corporates to test their solutions.
“Working with MasterCard Start Path introduces us to disruptive, early stage companies that may have the answers to overcoming the critical pain points facing global commerce,” said Mariano Belinky, Managing Partner at Santander InnoVentures. “Businesses graduating from the Start Path program should all be well prepared, proven, and ready to go to market. These are just the types of ambitious startup businesses we’d like to meet.”
How to Apply to Start Path Global:
Each quarter, MasterCard Start Path will recruit a new class of startups to embark on the six-month virtual programme. The application window to join the next class is open until September 18, 2015. To enter, visit: www.startpath.com. The programme is open to all non-US based startups who meet the following criteria:
- Solution live in market
- Established and experienced team
- Targeting a sizeable market opportunity in the retail and financial technology space
- Seed or Series A investment recently secured
Up to 18 promising startups will be invited to pitch their solutions to the MasterCard Start Path team in London on October 27 and 28, 2015. From there, a final list of six to eight companies will be chosen for the class beginning in early November. The next class will also be invited to attend the first Start Path Global Partner Summit where they’ll have the chance to engage with prospective Start Path Partners and industry thought leaders.
To learn more about the application process and to find out more information about MasterCard Start Path, visit www.startpath.com or follow us on Twitter @MAStartPath.
About MasterCard Start Path
MasterCard Start Path is a global effort to support innovative early stage startups developing the next generation of commerce solutions today. Start Path was launched at the end of 2013 with an objective to help early stage startups partnering with each startup to grow their businesses faster than they could by themselves. Startups can benefit from the knowledge of a global network of MasterCard experts, access to MasterCard customers and partners, and the ability to innovate on top of MasterCard solutions. For more information visit www.startpath.com or follow MasterCard Start Path on Twitter at @MAstartpath.
MasterCard (NYSE:MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us onTwitter@MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Brian Gendron, 914-325-1799