US-based payment services company Mastercard is expanding its Start Path accelerator, originally launched in May 2014 with a focus on Europe, to Asia Pacific, the Middle East, Africa, Latin America and Canada.
Dubbed Start Path Global, the programme will last six months, as opposed to the European incarnation which accompanied startups for a full year.
Start Path Global will not take any equity in participating startups or ask them to relocate. The programme will instead focus on offering companies access to more than 60 mentors and provide opportunities for pilot programmes with Mastercard’s clients.
Startups will also gain access to the programme’s 20 partners, including e-commerce company Rakuten, Samsung Card, which acts as electronics conglomerate Samsung’s credit card unit, retail chain Target, and Santander InnoVentures, the investment vehicle of financial services provider Santander.
Startups can apply to the programme until September 18, 2015. They need to be based outside the US, focus on the retail or financial sectors, and have already launched a product and secured either seed or series A funding.
A total of 18 companies will be invited to pitch to the Mastercard Start Path team in London in October, and six to eight businesses will then be chosen to enter the accelerator in November.