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The programme is accepting startups from SA as well as across the world who are operating within the banking and payments sector. Eligible startups need to have raised significant seed funding or series A investments.
Other criteria for eligible startups are:
- Startups must demonstrate advantage over competitors.
- Participants must target a sizeable market opportunity.
- Eligible startups must have established an experienced team.
Mastercard’s Start Path aims to provide innovative startups with much-needed support and investment
“Fintech startups around the world are designing a digital future,” said the VP of Mastercard Start Path Amy Neale in a press release to Ventureburn. ” They’re bringing a different approach to enhance customer choice and experience across the industry.
“Our work with these startups helps connect new technology with reliable, secure financial networks and processes to create an even more rewarding and seamless commerce experience.”
Through a six month virtual programme Mastercard will provide startups with operational support, mentorship as well as investment. Selected participants will also benefit by having access to Mastercard’s global network of experts as well as its customers and partners.
Participants will also have access to Mastercard’s global corporate brands which span across banking, retail, tech and telecoms.
Mastercard says the initiative has since 2014 received interests from more than 5000 startups. the programme has also worked with 100 companies across 24 countries. Through the first four rounds of the programme, 20% of selected participants have gone onto work with Mastercard in commercial engagements and pilots.