Applications for Class 3 accepted through March 8
Purchase, N.Y. – February 18 – MasterCard and Silicon Valley Bank are inviting startups doing business in the United States to apply for Commerce.Innovated., a program designed to help commerce-focused startups grow their businesses. Commerce.Innovated. is a four-month virtual program that provides startups with the resources to help refine and enhance their solutions through access to industry expertise from MasterCard, Silicon Valley Bank and their respective networks.
“The future of payments will be shaped by collaboration between established companies and innovative startups looking to create new solutions for consumers,” said Stephane Wyper, Global Lead of MasterCard Start Path. “Commerce.Innovated. is a great opportunity for us to promote that cooperation and support new companies as they look to grow their businesses.”
“We’re meeting incredible entrepreneurs in the fintech space through this program, helping them navigate potential roadblocks and getting to their next milestone with advice and connections in the payments space,” said Reetika Grewal, head of Silicon Valley Bank’s payments strategy. “We’re looking forward to meeting the new applicants, and working with our partners at MasterCard to help selected companies move their businesses forward.”
Commerce.Innovated. launched in 2014 and has worked with 10 commerce-focused startups to date, including CardFlight, Dash, Gone, Kaayasoft, PayByGroup, Penny Owl, Realtor Maven, Standard Treasury, Splitwise, and Slide.
“The program has been nothing short of a game-changer for our company,” said Michael Morris, Co-Founder and CEO of Slide. “The access to relevant industry experts and cutting-edge payment capabilities has been hugely beneficial.”
Applications for the next Commerce.Innovated. class can be submitted online at www.commerceinnovated.com through March 8. Companies do not need to be current clients of Silicon Valley Bank to apply.
The program will begin in April and is open to early-stage startups that meet the following criteria:
- A solution that is helping to make commerce easier, safer or better for consumers or businesses
- Secured or raising seed funding
- Have a strong, small core team dedicated to your mission
- Have a working product
Full program eligibility details and online application are available atwww.commerceinnovated.com. Virtual information sessions will be held on Feb 19 and 20. Interested companies can sign up for a time to speak here.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Forbes named SVB one of America’s best banks (2015) and one of America’s best-managed companies (2014). Learn more at svb.com.
Silicon Valley Bank is the California bank subsidiary and commercial banking operation of SVB Financial Group (Nasdaq: SIVB), and a member of the FDIC. Silicon Valley Bank and SVB Financial Group are members of the Federal Reserve System.
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