MasterCard Start Path is a program intended to innovative global startups which aim at reshaping the future of commerce. The program started in the end of 2013 on a local level, but realizing the need for a globally-inclusive program of this kind, it soon extended worldwide offering support to over 40 startups to date.
The program had notable success in Europe in the previous editions. According to Cropc.Net, MasterCard is currently collaborating with dopay, Invoice Sharing, Universal Basket and Rainbird. The last one is already using artificial intelligence technology in developing sales consultancy services for MasterCard. Rainbird, headquartered in Norwich, has been part of the program since last year.
What is the MasterCard Start Path Global?
MasterCard Start Path Global is a program that creates partnerships with startups on a geographically diverse way, helping those new to the market build valuable collaborations with established companies and scale their business. As pointed out on the official website, participants in the program have immediate access to both experts and resources of the organization and they can easily establish working relationships with MasterCard’s global network. They attend a 6-month-long virtual program with 2 physical immersion weeks happening in different cities. This is a unique opportunity to learn more about the internal and external network of the organization as well as to innovate on top of available solutions. MasterCard invests up to $12 000 per team and requires no upfront stake in the company as a condition for participation in the program.
Terms for startups
The company is looking for a team of 5 or more members with high technical expertise offering a solution with strong competitive edge and sizeable market in the commerce industry that has recently received seed or series A investment.
The applications for the upcoming sixth edition of MasterCard Start Path are open until March 21, 2016. The company will select 20 startups to attend the Pitch Day in Toronto on May 11-12, 2016. Only 8 of them will be invited to the program which will start June 20 -25, 2016.
To find out more about the program, take a look at the official video bellow or check the detailed information available at the MasterCard Start Path website.
Video taken from MasterCard Start Path.