MasterCard has expanded its Start Path Global program for startups to China. MasterCard also held its inaugural symposium for the banking industry in Ningbo, bringing together close to 100 reps from over 40 joint-equity commercial banks, city commercial banks, and rural commercial banks across China.
Launched in 2014, Start Path is a global effort to support innovative, early-stage startups that are developing the next generation of commerce solutions and are looking to accelerate growth. The program has a strong track record of helping startups transform innovations into sustainable business propositions across a diverse range of technology areas including artificial intelligence, wearables, logistics and big data amongst others.
MasterCard is now expanding the program to China and Hong Kong to engage with startups that are driving new commerce solutions in a rapidly-evolving, innovation ecosystem. Over the course of 6 months each startup that is selected for the program will be provided with access to operational support, connections to a global set of MasterCard partners, and the potential opportunities to integrate with MasterCard solutions.
Start Path Global has been designed to put the startup first: startups are not required to relocate, nor is any equity taken, but instead the program provides immediate access to over 60 MasterCard experts, opens the door to pilot opportunities with MasterCard or MasterCard customers, and provides the startups with full ownership for any intellectual property developed.
Regarding the recent MasterCard banking symposium, the focus of the meeting centered around the impact of China’s outbound travel market on commercial banks, looking at how banks could build on the growing outbound travel segment to innovate and develop competitive cross-border payment products.
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