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MasterCard uses Start Path to work with startups from Asia Pacific

Wednesday 14 September 2016 | 12:42 PM CET

MasterCard’s startup engagement programme Start Path Global works with startups to drive new businesses forward and is launching a call for application for its 2016 year-end class.

Start Path is an integral part of MasterCard’s broader startup engagement effort that is focused on partnering with the best startups to collaborate and create new experiences for its customers, business partners, and the broader financial industry.

Start Path was established in early 2014 as a way for MasterCard to work directly with global startups building innovative solutions covering everything from blockchain to artificial intelligence and chatbots. Over the last two years, Start Path has worked with over 90 companies across 24 countries. Notably MasterCard is currently running active pilots with or has directly invested in nearly 20% of the companies.

Start Path has seen success in the Asia Pacific region and is intensifying its search here as a testament to its startup community. The objective of the programme is stay close to innovations that are coming out of the region and to drive success for the early-stage companies that are working on next-generation commerce technologies. The six-month, virtual programme will help startups from the region tackle business problems and introduce them to new opportunities around the globe.

Start Path is currently working with 6 startups that have presence in Asia Pacific. The team has selected Singapore as a hub to host its “Immersion Week,” which is designed to provide exposure to its current class to the city’s entrepreneurial community and engage with local thought leaders and partners.

Razorpay, an online payment gateway in India has received investment from MasterCard through the Start Path programme. ViSenze, Moneytree and Kasisto are all working with Start Path to identify growth areas, partnership possibilities and integration plans within and beyond MasterCard.

There are several new companies based out of Asia Pacific that have recently signed up to join Start Path: Airwallex (Australia), a one-stop-shop solution for cross-border payments, and IMG (China), a computer vision company that is working on embedding gesture recognition in virtual reality and augmented reality. Its products have different use cases spanning from virtual retail changing rooms to 3D modelling for gaming.

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