January 26, 2015 -
MasterCard is set to hold its fourth Innovation Award event in Israel February 16-17, where the best fintech start-ups will have a chance to present their technology to MasterCard Labs before the winner heads in Dublin to compete for the grand prize of enrollment in MasterCard’s new Start Path accelerator.
Launched last September, the Start Path accelerator is a four-month program designed to help fintech companies streamline their technology, followed by another eight-month period integrating their technology in MasterCard’s ecosystem.
The companies currently enrolled in the program combine digital banking with social media, provide mobile identity and authentication management services to banks and credit card companies, and offer loyalty platforms based on customer profiles.
Stephane Wyper, global leader of MasterCard Start Path, along with other top MasterCard executives will judge the start-ups at the Israel event on February 17.
“Start Path Europe is unique, because we tailor the support to match the individual needs of a startup, rather than applying a ‘one size fits all’ approach,” says Wyper. “Our goal is the success of each startup and helping them grow faster than they could on their own.”
Criteria for candidate start-ups include having secured seed funding and currently being in pre-series A stage, as well as offering a live or beta product with commerce-focused technology in the areas of biometrics and payment security, customer authentication intelligence and insight, e-commerce and m-commerce (mobile commerce) technology, online marketplaces, loyalty and rewards, or location-based services.
Mastercard will accept all applications until February 6 for the Tel Aviv event, and will then select 15 start-ups to present before Wyper and the MasterCard executives. The winners will be sent to Dublin to participate in the finals in March.
MasterCard is inviting innovative startups from across Europe to apply for the second edition of its Start Path Europe accelerator. The deadline for applications is 19 February.
The next Start Path program starts in April. Last year, 54 companies applied for the Innovation Award competition.