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MasterCard launches European incubator programme for commerce startups

07 May 2014  |  8592 views  |  0 light bulbs

MasterCard has launched an accelerator programme for European commerce-focused startups, promising to help them secure a pilot.

MasterCard is inviting firms from the European commerce ecosystem that have already secured seed funding and have a live or planned beta in place to apply for the 12-month Start Path Accelerator programme. Interested parties have until 16 May to apply.

Up to eight startups will be chosen to take part, decamping to Dublin for an intensive four month phase where they will work with MasterCard and mentors from partners, including Asos and Capital One. Participants will get EUR35,000 to cover their time in Ireland.

During this period the startups will work towards securing a pilot with MasterCard or one of its partners before heading home to carry it out.

The programme is nearly identical to Commerce.Innovated, which MasterCard partnered with Silicon Valley Bank to launch in the US earlier this year. The card giant is also working with outside labs and accelerators, including Startupbootcamp FinTech, Techstars and FinTech Collective.

Stephane Wyper, Start Path global lead, MasterCard, says: "The future of commerce will be shaped both by traditional players and by startups that are already experimenting with the next generation of solutions. We are giving these startups direct access to our extensive knowledge and experience, to help them uncover new ideas, and ultimately create better experiences for consumers, merchants and other partners."

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