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.
To this end, MasterCard revealed in a statement that its Start Path Global 2016 program had been designed with that objective and has launched a call for applications across the globe.
According to the payment solution company, since 2014, the 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 the MEA region and is intensifying its search as a continuing reminder of the innovation potential of local startups. In MEA, the program is currently working closely with startups including Saida, a startup that has developed an app that uses the data on the customers’ smartphones to underwrite loans to them in minutes. The app has just launched in Kenya and has been instrumental in providing over 16,000 loans.
“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,” it added.