MasterCard launches partnership programme for startups in Africa

Global Electronic Payment Solutions Provider MasterCard has today launched Start Path Global – a unique six-month mentorship/partnership and capacity building Programme for startups. 
 

The partnership is an extension of the company’s existing footprint to a greater number of countries globally in Asia Pacific, Middle East, Africa and Latin America. 

The Start Path Global programme will allow innovators and young entrepreneurs to gain access to over 60 MasterCard experts and benefit from the opportunity to pilot their innovations or ideas with MasterCard or MasterCard customers around the world.  

“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.  “Our global expansion targets a broader range of startups and help them achieve success, " noted Wyper. 

Start Path Global programme has been designed to put the start-up first by allowing them to grow at their own space and pace. There is no need for a start-up to relocate, neither is there need for equity to be taken and allows full ownership for any intellectual property (IP) developed.

With this international expansion, startups from around the world and especially Africa, will also benefit from access to Start Path Partners, a group of more than 20 leading companies in banking, retail, and technology including Samsung Card, 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,” explained Mr. Wyper. 

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.

To learn more about the application process and to find out more information about MasterCard Start Path, visit www.startpath.com or follow us on Twitter @MAStartPath.