MasterCard To Initiate Startups in Africa, Others | Independent Newspapers Limited
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MasterCard To Initiate Startups in Africa, Others

Posted: Mar 13, 2016 at 8:57 am   /   by   /   comments (0)

Corporate organisations are beginning to show support for the growth of start ups in Nigeria as Interswitch, maker of Master card, has led the way by indicating interest to support Nigerian entrepreneurs in the Global 2016 program.

A statement issued by the management of Interswitch indicates that the company is more than ready to support Nigerian start-ups in the forthcoming program tagged “Start Path”.

Part of the statement reads: “Technology and data are transforming the way consumers and businesses interact with each other, driving a need to bring new ideas to market with greater speed.  The right corporate-startup partnership gives startups an accelerated path to scale innovative solutions.”

The statement further reveals that the Global 2016 program has been designed with an objective meant to reach out to a lot of start ups across the globe. It also calls for applications from suitable applicants across the globe. Since 2014, Start Path has provided more than 60 startups a variety of operational support, mentorship, and investment to develop the next generation of commerce solutions.

Start Path has seen success in the MEA region and is intensifying its search as a continuing reminder of the innovation potential of local startups. In MEA, the program is currently working closely with startups including Saida, a startup that has developed an app that uses the data on the customers’ smartphones to underwrite loans to them in minutes. The app has just launched in Kenya and has been instrumental in providing over 16,000 loans.

“Startups are actively experimenting with new solutions aimed at transforming the status-quo across a wide variety of industries including financial services, retail, and healthcare,” said Stephane Wyper, global lead of MasterCard Start Path. “We can provide critical support through operational expertise and access to a steady pipeline of customers, channels and partners. In just two years, Start Path Global has a strong record of helping startups transform innovations into sustainable business propositions.”