MasterCard has announced the launch of Start Path Global as a means to help startups break even and achieve global presence in today’s crowded and competitive business environment, Footprint to Africa reports.
Footprint to Africa gathered that Start Path Global is 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. And now with our global expansion we will be able to target a broader range of startups and help them achieve success,” Global Lead of MasterCard Start Path, Stephane Wyper said.
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.
“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,” Managing Partner at Santander InnoVentures Mariano Belinky said.
MasterCard Start Path is a global effort to support innovative early stage startups developing the next generation of commerce solutions today.
Footprint to Africa learnt that 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.