Mastercard Start Path programme is making the call for additional applications from qualifying late-stage start-ups – marking an opportunity for the fast-growing pool of African fintech talent to benefit from the mentorship and knowledge-sharing that Start Path offers.
The initiative is open to fintech and tech start-ups from Africa and across the world who are shaping commerce by rethinking banking and payments and who already are well established, having raised a significant seed or Series A round of investment.
During the six-month virtual programme, Start Path provides the selected start-ups with the operational support and mentorship they need to develop the next generation of commerce solutions and grow the footprint of their operations. Start-ups accepted to the programme benefit from the knowledge of a global network of Mastercard experts, access to Mastercard customers and partners, and the ability to innovate on top of Mastercard solutions.
“African fintech start-ups are bringing fresh thinking to an increasingly connected commerce industry that relies on enhancing customer choice and experience to survive in the competitive and fast-paced digital age,” says Amy Neale, Vice President, Mastercard Start Path.
To date, one African start-up has been selected to the programme and has since partnered with Mastercard to introduce a game-changing e-commerce solution for developing markets plagued by cash: NetPlus benefited from knowledge-sharing and mentorship sessions in New York, London and Singapore where NetPlus met with other start-ups and Mastercard customers.
Building on the experience, NetPlus then partnered with Mastercard to develop an e-commerce solution that overcomes the challenge of payments still being made in cash at the point of delivery by allowing customers to pre-authorise the payment when placing their order online – with payment only being released once the customer has confirmed their satisfaction on delivery. This has advantages for both merchants and customers.
“The NetPlus and Mastercard collaboration to launch a groundbreaking e-commerce solution proves that there is world-class talent on the continent and that start-ups are contributing significantly to the development of Africa – with programmes like Start Path serving as a springboard to greater growth by enabling these companies to receive exposure they wouldn’t otherwise get,” concludes Neale.
Apply Now
Applications for the next six-month virtual programme will be accepted until Tuesday August 1, 2017. Interested start-ups can visit https://www.startpath.com/ for additional information and to submit an application.
Important to note is that the programme is open to start-ups who meet the following criteria:
- Solution live in market;
- Established and experienced team;
- Targeting sizeable market opportunity;
- Demonstrable advantage over competitors;
- Seed or Series A investment recently secured.
Staff Writer
