Whether it is to scale their business or drive profitability, startups are increasingly looking to collaborate with corporates to both tap into their operational expertise and to test new technology. Enter Mastercard’s startup engagement program Start Path Global. This programme is a global effort to support innovative startups developing the next generation of commerce solutions today. Launched in 2014, Start Path’s objective was to help startups to grow their businesses faster than they could by themselves.
Startups that join the program 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. Mastercard customers that join the program as partners get connected to the best and brightest startups and gain access to innovations from across the globe.
Start Path is an integral part of Mastercard’s broader startup engagement effort. This effort is one that is focused on partnering with the best startups. In doing so, Mastercard wants to collaborate and create new experiences for its customers, business partners, and the broader financial industry.
Over the last two years, Start Path has worked with over 90 companies across 24 countries. Notably Mastercard is currently running active pilots with or has directly invested in nearly 20 percent of the companies.
“In 2014 we wanted to look beyond Mastercard and support innovation that was being developed by new and upcoming, early-stage companies” said Stephane Wyper, Global Lead Mastercard Start Path “We believe every startup is unique and that there isn’t a one-size-fits-all approach to working together. We have put in place different mechanisms including pilots with Mastercard business lines, access to our APIs, and connectivity to our customer base and partner networks.”
Start Path has seen success in the Asia Pacific region and is intensifying its search here as a testament to our vibrant startup community. The objective of the program is stay close to innovations that are coming out of the region and to drive success for the early-stage companies that are working on next-generation commerce technologies. The six-month, virtual program will help startups from the region tackle business problems and introduce them to new opportunities around the globe.
The startup community in Asia Pacific has been growing at an unprecedented rate and the region has been churning out some major success stories. Start Path is currently working with 7 startups that have presence in Asia Pacific. The team has selected Singapore as a hub to host its “Immersion Week,” which is designed to provide exposure to its current class to the city’s vibrant entrepreneurial community and engage with local thought leaders and partners.
Razorpay, an online payment gateway in India has received investment from Mastercard through the Start Path program. ViSenze, Moneytree and Kasisto are all working with Start Path to identify growth areas, partnership possibilities and integration plans within and beyond Mastercard.
There are several new companies based out of Asia Pacific that have recently signed up to join Start Path:
Each quarter, Mastercard Start Path recruits a new class of startups to embark on the six-month virtual program. The program is currently accepting applications for its next class and is open to all non-US based startups. The application window to join the next class is open until October 11, 2016. To apply, click here visit:
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