MasterCard Start Path on a Mission to Engage Best Startups from Across Europe
Applications currently being accepted for Start Path Global 2016 program
Technology and data are transforming the way consumers and businesses interact with each other, driving a need to bring new ideas to market with greater speed. The right corporate-startup partnership gives startups an accelerated path to scale innovative solutions.
The MasterCard Start Path Global program has been designed with that objective and has launched a call for applications across the globe. Since 2014, Start Path has provided more than 60 startups a variety of operational support, mentorship, and investment to develop the next generation of commerce solutions.
Start Path has seen success in Europe and is intensifying its search here as a continuing reminder of the innovation potential of the area. In Europe, the program is currently working closely with startups including Rainbird, dopay, Invoice Sharing and Universal Basket.
A 2015 Start Path participant, Rainbird is using its artificial intelligence (AI) technology to develop a sales advisory tool for MasterCard. Rainbird’s software will capture knowledge and experience in the current sales function and encode it into software that learns with time and experience to bring efficiency to the function of its UK sales teams working with banks to provide loyalty schemes and other card benefits.
Based in Norwich, Rainbird was selected to be a part of MasterCard’s most recent Start Path Global class in November last year. Since 2014, Start Path has worked with over 60 startups, and helped them scale by providing funding and business opportunities. Through participation in Start Path Global, Rainbird obtained a new business opportunity within MasterCard’s sales function, as well as access to its commercial partners and tailored mentoring from a host of MasterCard experts.
“Startups are actively experimenting with new solutions aimed at transforming the status-quo across a wide variety of industries including financial services, retail, and healthcare” said Stephane Wyper, global lead of MasterCard Start Path. “We can provide critical support through operational expertise and access to a steady pipeline of customers, channels and partners. In just two years, Start Path Global has a strong record of helping startups transform innovations into sustainable business propositions.”
Rainbird is one example of how Start Path is partnering with startups to develop and test the next-generation of technology solutions. Start Path is helping several other startups from that batch to explore new markets and businesses.
The Start Path team has also just begun working with dopay, a startup based in the United Kingdom that enables employers to pay wages electronically to employees with no bank accounts; Universal Basket, also based in the UK, a universal shopping basket that allows consumers to buy items from multiple retailers but pay via a single checkout; Invoice Sharing, based in Holland, is a free electronic invoice distribution platform. As part of the program, dopay, Universal Basket and Invoice Sharing gain access to a global network of MasterCard experts, connections with MasterCard’s commercial partners, and the opportunity to integrate with MasterCard products and tools.
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. The application window to join the next class is open until March 21, 2016.
How to Apply to Start Path Global:
- Submit your application at f6s.com/mastercardstartpathglobal2016 by 5 pm GMT on Monday, March 21, 2016
- Receive email confirmation of your application from the Start Path team
- For some companies, the Start Path team will contact you for a call to further discuss your application.
- The Start Path team will invite 20 companies to a Pitch Day in Toronto on May 11 and 12, 2016
- The Pitch Day is an opportunity not only to pitch for selection into the program, but also to meet with big-brand partners of the program.
- Eight companies will be provided with an offer to join the program.
- The program will kick off with an immersion week in June 2016 (location to be confirmed)
Two information sessions will be held to walk interested groups through the application process:
- Wednesday, March 16, 9am GMT
- Wednesday March 16, 5pm GMT
To register, please click here: startpathglobal.youcanbook.me