Silicon Valley Bank and MasterCard are introducing a commerce startup accelerator to help companies in the payments industry address their operational and technological challenges.
Commerce.Innovated. is a four-month program where four to six startups will work directly with subject matter experts from Silicon Valley Bank and MasterCard to focus on specific issues like resolving compliance challenges to refining technology platforms.
"We mobilized our team to create a program that will help them get their commerce platforms to market quickly," says Bruce Wallace, chief operations officer of Silicon Valley Bank, in a Feb. 14 press release.
Companies who participate in this program will all be innovators in the commerce ecosystem, have a live or planned beta product with funding secured to raise Series A, and a customer who is ready to participate.
The program will also provide the startups with future partners or customers who work with Silicon Valley or MasterCard.