Mastercard has launched a start path initiative that has been designed for Ukrainian FinTechs and entrepreneurs to enable Ukrainian startups to contribute to the rebuilding of the country’s economy.
The initiative was announced at the Money 20/20 Europe in Amsterdam and has the support of the National Bank of Ukraine and the Ministry of Digital transformation in Ukraine. It is due to launch this autumn, with the application process opening later in the summer.
According to Mastercard, the initiative will initially support five Ukrainian start-ups over a six-month period. During that period the startups will receive mentorship and access to resources and networking opportunities.
This is the newest addition to Mastercard’s existing start path programme. To date, Mastercard said the programme has supported more than 300 startups around the world, which are now entering public markets and reaching unicorn status.
Inga Andreieva, general manager of Mastercard Ukraine and Moldova, said, ““Since the start of the invasion, Mastercard has been playing its part in supporting the Ukrainian people and economy. It’s our responsibility to extend these efforts and collectively do more as an industry and as a global organization in support of Ukraine’s recovery. As one of the world’s leading hotbeds of innovation, it is critical that we protect Ukraine’s startups for the health of the tech sector and economic rebuilding.”
Mastercard recently launched its ‘Your True Self is Priceless’ campaign as part of its celebration of Pride month.
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