In today’s crowded and competitive business environment, startups across the world are seeking global opportunities that will rapidly scale their business.
To address this need, MasterCard announced on Thursday 3rd September, the launch of Start Path Global – a unique six-month partnership programme for startups that extends Start Path’s existing footprint to a greater number of countries globally in Asia Pacific, Middle East, Africa and Latin America.
The programme builds on Start Path’s efforts over the past 18 months having provided a variety of operational support, partnership, or investment for over 40 startups developing the next generation of commerce solutions, including Nymi, ZenCard, BillHop and Gone.
Start Path Global has also been designed to put the startup first: specifically, there is no need for a startup to relocate, no equity taken, immediate access to over 60 MasterCard experts, opens the door to pilot opportunities with MasterCard or MasterCard customers, and with 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 carefully selected MasterCard 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 call for applications 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 sizeable market opportunity in the retail and financial technology space;
• Demonstrable unfair advantage over competitors;
• Seed or Series A investment recently secured.
Up to 18 promising startups will be invited to pitch their commerce solution 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 upcoming global class which will begin in early November. Members of the next class will also be invited to attend the first Start Path Global Partner Summit to be held in Berlin on November 16 and 17, where they’ll have the chance to engage with prospective Start Path Partners and industry thought leaders.