Helping startups take their expansion plans off the whiteboard
Visa, the world’s leader in digital payments, has announced an accelerator program for startups in India that are looking to expand their businesses into new markets for their successful solutions by offering to collaborate with its extensive network of bank and merchant partners.
The Visa Accelerator Program will focus on creating defined commercial opportunities for the startups to collaborate with Visa and its extensive network of bank and merchant partners, said Visa on 1 Dec 2020. It will select an elite group of up to six startups to be part of the first program cohort.
The Program is designed for startups that have launched successful solutions in their home markets but are looking towards the next stage of growth. As the engine of global commerce, Visa is uniquely positioned to help startups break into new geographies and reach new customer groups.
“In Visa’s ongoing work with the startup community, we often see companies face challenges when taking their business from a local success story to becoming a player in multiple markets,” said TR Ramachandran, Group Country Manager, India and South Asia, Visa. “Visa has global expertise that can help startups take their expansion plans off the whiteboard and into the real world.”
Startups in the Visa Accelerator Program should be ready to work on some of the most pressing financial and technological opportunities in India.
Visa is looking for startups that want to address areas such as:
• Expanding access to the digital economy to consumers and businesses that may be underserved or cash-dependent;
• Supporting small businesses as they grapple with changing technology demands and the ongoing impacts of the COVID-19 pandemic;
• Leveraging the growing open data environment in the region to develop more personalised banking and shopping experiences;
• Developing new ways of moving money that is not dependent on traditional credit and debit cards.
“There is no shortage of fantastic solutions coming out of India’s startup community. What’s most important to Visa is how we can support those solutions getting elevated to a stage wherein a few months’ time they could be pitched as a commercial deal to a leading bank, retailer or technology company in India,” said Ramachandran.
“A big differentiator for the Visa Accelerator Program is our concentration on a small number of startups that are truly ready to unlock that next level,” he said.
The Visa Accelerator Program is a new part of Visa’s broader set of platforms and activities for the startup community in India. With its dedication to supporting international expansion, the Visa Accelerator Program is the right fit for startups that are Series A and above, have a long-term commitment to India’s growth and existing operations in the region, and have a market-validated, proven solution. #banking #technology #startup #fintech #investment #exports /fiinews.com
