MasterCard Start Path, a global effort to support innovative early stage startups developing the next generation of commerce solutions, is intensifying its search in Puerto Rico to provide a variety of operational support, mentorship, and investment to develop the next generation of commerce solutions, the company announced.
“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,” company officials said.
The MasterCard Start Path Global program has launched a call for applications across the globe. It is focusing on Latin America, where a combination of government initiatives, investment, and homegrown entrepreneurs are encouraging growth in the region’s startup space. Venture capital funding in the region has grown over eight folds since 2010 and since its inception in 2014, Start Path has supported more than 60 startups.
During the six-month program, participants will obtain customized mentoring from MasterCard experts, access to the company’s commercial partners and the opportunity to integrate with MasterCard solutions. The application window to join the next class is open until Mar. 21. To apply, visit: www.startpath.com. The program is open to all non-U.S. mainland-based startups.
“Startups in the Latin America region 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.
“At MasterCard we believe it is critical that we support that ecosystem by providing operational expertise and access to a steady pipeline of customers, channels, and partners. Through Start Path Global we have a track record of helping startups transform innovations into sustainable business propositions,” he said.
Eight companies will be provided with an offer to join the program that will kick off with an immersion week in June. Two information sessions will be held to walk interested groups through the application process this Wednesday at 9 a.m. and 5 p.m. GMT.