Visa accepting applications from startups
Visa announced yesterday that it has started to accept applications for its “Visa Accelerator Programme 2023” from startups in the Asia Pacific region, including Bangladesh. The programme will help startups unlock business growth potential and access Visa’s network of partners from the region.
The programme will focus on solutions in Web 3.0, global money movement, embedded finance, merchant and small business enablers and open banking.
The programme will hand-pick a number of startups to work on some of the payments industry’s most pressing challenges. The six-month programme will allow startups to receive mentorship and guidance from Visa’s payment experts, product architects and business development teams, in order to develop, test and iterate payment solutions.
Startups that are part of Visa’s Asia Pacific Innovation Program will have access to Visa’s network of financial institutions, merchants, and digital partners. This will give them the opportunity to pursue intangible go-to-market opportunities, according to a statement.
“The program is perfect for startups at Series A and above with a long-term commitment to Asia Pacific growth, existing operations in the region and a market-validated proven solution,” said the statement.
The last date for submitting applications is January 10, 2023.
The Visa Accelerator Program is pleased to be back for its 3rd year in Bangladesh! Startups from the previous cohorts have presented exceptional ideas and secured nine commercial deals with Visa’s clients and partners in Asia Pacific,” said Soumya Basu, country manager for Bangladesh, Nepal and Bhutan at Visa.
“Our goal is to help startups from Bangladesh build their potential and grow in new markets; we are excited to invite applicants and help us continue the program’s momentum,” he said.
Last year, Bangladeshi fintech startup TallyKhata was one of the five participants selected for the Visa Accelerator Programme 2022 – the first startup from Bangladesh to be a part of this program.
TallyKhata and Visa enable small business financing by combining the former’s merchant platform and data with Visa credentials for supplier payments and business expenses. This way, small businesses have access to the resources they need to grow and succeed.
After the six-month programme, the startups will have the opportunity to participate in a post-program engagement model. The model will take into account different factors to determine whether or not a startup can continue, such as if the proof-of-concept test was successful.
