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MasterCard and Silicon Valley Bank launch commerce-focused startup programme

18 February 2015  |  3722 views  |  0 Source: MasterCard

MasterCard and Silicon Valley Bank are inviting startups doing business in the United States to apply for Commerce.Innovated., a program designed to help commerce-focused startups grow their businesses.

Commerce.Innovated. is a four-month virtual program that provides startups with the resources to help refine and enhance their solutions through access to industry expertise from MasterCard, Silicon Valley Bank and their respective networks. 

“The future of payments will be shaped by collaboration between established companies and innovative startups looking to create new solutions for consumers,” said Stephane Wyper, Global Lead of MasterCard Start Path. “Commerce.Innovated. is a great opportunity for us to promote that cooperation and support new companies as they look to grow their businesses.” 

“We’re meeting incredible entrepreneurs in the fintech space through this program, helping them navigate potential roadblocks and getting to their next milestone with advice and connections in the payments space,” said Reetika Grewal, head of Silicon Valley Bank’s payments strategy. “We’re looking forward to meeting the new applicants, and working with our partners at MasterCard to help selected companies move their businesses forward.” 

Commerce.Innovated. launched in 2014 and has worked with 10 commerce-focused startups to date, including CardFlight, Dash, Gone, Kaayasoft, PayByGroup, Penny Owl, Realtor Maven, Standard Treasury, Splitwise, and Slide. 

“The program has been nothing short of a game-changer for our company,” said Michael Morris, Co-Founder and CEO of Slide. “The access to relevant industry experts and cutting-edge payment capabilities has been hugely beneficial.” 

Applications for the next Commerce.Innovated. class can be submitted online at www.commerceinnovated.com through March 8. Companies do not need to be current clients of Silicon Valley Bank to apply. 

The program will begin in April and is open to early-stage startups that meet the following criteria: 

  • A solution that is helping to make commerce easier, safer or better for consumers or businesses 
  • Secured or raising seed funding 
  • Have a strong, small core team dedicated to your mission 
  • Have a working product 

Full program eligibility details and online application are available at www.commerceinnovated.com. Virtual information sessions will be held on Feb 19 and 20. Interested companies can sign up for a time to speak here.

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