SANTA CLARA, Calif.
Feb. 14, 2014
Silicon Valley Bank
, financial partner to the global innovation economy, and MasterCard introduce
a customized commerce accelerator program that will help a select group of commerce focused startups access operational and technology expertise to effectively advance their go-to-market commerce platforms.
Established by experts in the global payments industry, Commerce.Innovated. is a four-month program for four to six startups. The program is custom designed for each startup to address key operational and technology challenges by working with subject matter experts across the commerce space.
Early stage companies that meet the following criteria may
February 21, 2014
- Innovative commerce focused solutions
- Pre-series A, seed round secured
- Live with beta product
- Path to revenue defined
- Core team established
"This program is consistent with our core mission, to increase the probability of our clients' success," said
, Chief Operations Officer of Silicon Valley Bank. "We want to provide focused operational knowledge and connections to help commerce startups overcome operational and infrastructure challenges, so we mobilized our team to create a program that will help them get their commerce platforms to market quickly."
"Having run a startup that partnered with MasterCard in the past, I know first-hand the very tangible value that can come from an opportunity like this. Startups can leverage the deep domain expertise that a company like MasterCard can share. In return, larger companies benefit from the experience of working and thinking like a startup to help challenge the 'usual' way of doing things within an established organization," said
, Chief Innovation Officer for MasterCard.
Commerce.Innovated.™ will run two classes in 2014 for four to six companies per class. The first class will begin in April and run through July. Applications for the second class will begin in June. There is no fee to apply or participate. More information on the program and the online application are available here:
A virtual question and answer session is scheduled on
Tuesday, February 18
for startups interested in learning more about the program. For information on how to participate in the call send email to
About Silicon Valley Bank
Banking the world's most innovative companies and exclusive wineries, SVB's diverse financial services, knowledge, global network, and world class service increase our clients' probability of success. With
in assets and more than 1,700 employees, we provide commercial, international and private banking through 34 locations worldwide.
Magazine ranks us among America's Best Banks and
considered SVB one of the best places to work. (Nasdaq: SIVB)
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.