Deadline: 10-Jan-23
The Visa Accelerator Program is now open for applications to help startups unlock their growth potential and scale across the Asia Pacific region, by collaborating on joint solutions that address the biggest opportunities in digital payments.
The Visa Accelerator Program is designed for growth stage companies looking to expand their market reach, with a focus on product solutioning, technical integration and fast-tracked commercialisation.
Together with Visa’s payment experts, product architects and business development teams, startups in the Visa Accelerator Program get to rapidly co-develop, test, and iterate new solutions, while pursuing tangible go-to-market opportunities with their extensive network of financial institutions, merchants and digital partners over a course of six months.
Now in its third year, the Visa Accelerator Program has enabled the growth of some of Asia Pacific’s most prominent startups.
The Program is designed to accelerate innovation by identifying high caliber startups able to collaborate with Visa and key Visa partners to create cutting-edge solutions through a process of opportunity exploration and validation via a Proof of Concept (“POC”). Selected participants that successfully complete the Program may also have the opportunity to collaborate with Visa, its affiliates and its partners in various ways including commercialization, partnerships, and new product development, and to receive mentoring support and potential investment from Visa, its affiliates or its partners. Selected participants may also be nominated by Visa for inclusion (as representatives of the AP region) in the global Visa Everywhere Initiative (“VEI”) for 2023.
Who are they looking for?
- Mission Alignment
- Startups with solutions addressing one of the following opportunity areas:
- Web 3.0
- Global Money Movement
- Embedded Finance
- Merchant and Small Business Enablers
- Open Banking
- Startups with solutions addressing one of the following opportunity areas:
- Proven Solution
- Startups with a market-tested solution that has gained traction
- A clearly articulated scope and business rationale for a POC with Visa
- Growth Stage
- At least 9-12 months runway (Series A and above)
- Resources available for POC testing with Visa (startup can dedicate time and focus without impacting core operations)
- Asia Pacific Focus
- Startups that demonstrate commitment to expanding in Asia Pacific
- Existing operations in the region is a plus
Benefits
- Rapid Testing
- Test and validate your solution efficiently through a focused Proof of Concept (POC) to generate maximum impact within a short timeline
- Get equity-free funding of up to US$50,000, at Visa’s discretion, to support your POC
- Get business and technical support to build and deploy your solution
- Access & Partnerships
- Get exclusive introductions to Visa’s global network of clients and partners
- Explore tailored partnerships and commercialisation opportunities post-program
- Follow-on integration with Visa ecosystem initiatives and programs
- Exclusive Mentorship
- Access Visa leadership and subject matter experts to build your roadmap
- Dedicated Visa Sponsor and POC working team, to open doors and champion your startup
- Access Plug & Play’s renowned mentor network to fast track your growth
- Scale Your Business
- Expand into new regions with their market-specific expertise
- A fast track for follow-on pilots, commercial agreements, co-creation, and even potential funding for successful POCs across Asia-Pacific
- Get recognised on the global stage as one of the elite startups accepted into the program
Eligibility Criteria
- They encourage startups with operations in Asia Pacific to apply for the program. However, startups based overseas, that can demonstrate a commitment to long-term growth in the region may also apply for the program.
- You may only apply to participate in the Program if you are a company incorporated or registered to do business in one of the markets in which Visa currently operates in, and all intended participants from your Company within the Program are at least 18 years old at the time of registration (or at least the age of majority in your/their jurisdiction of residence). In addition, employees of Visa or its affiliates are not eligible to apply for entry to the Program.
- Visa may request valid proof of eligibility, including with respect to identity, corporate organisation, age and other relevant documentation, and may disqualify an application or Participant at any time without notice for any reason, including, without limitation, if Visa determines (in its sole discretion) that the provided proof is not sufficient or the applicant or Participant does not otherwise meet the Program’s eligibility criteria, or the applicant or Participant fails to comply with these Terms or attempts in any way to disrupt or undermine the Program or to circumvent any of these Terms.
- You are not required to make any purchase or pay any fee to apply for entry to or participate in the Program. However, you and your Company (if applicable) are responsible for all expenses you may choose to incur in the course of applying to be selected as a Participant in the Program or participating in the Program itself.
Selection Process
- After the Application Period has ended, Visa or its program partner will notify you by email and/or phone if you are selected as a finalist to attend a further interview with Visa and its program partner. If you are selected as a finalist, you may be required to prepare and submit further information or materials which set out details about your company, its products and capabilities, and your proposed Solution, and any other items that Visa may require including financial details or other information in order to assess your application against Visa’s selection criteria. Visa will also need to be able to assess your overall fit with Visa and potential for a strong future relationship. All interviews will be held in English. Given the short time period between the end of the Application Period and the selection of Participants, you are encouraged to submit any requested information or materials as soon as possible.
- Selected Participants will be notified by email and/or phone. If the selected Participant does not comply with these Terms, or fails to enter into a Program Agreement with Visa prior to the start of the Program, Visa may disqualify the Participant, and may select an alternate Participant.
- Visa and its program partner will select the finalists chosen to attend interviews and the final Participants chosen to participate in the Program in their sole discretion. Decisions of Visa with respect to all aspects of the Program will be final and binding.
- Throughout the selection process or during the Program, Visa may contact you regarding your Company, your Solution, its implementation, or other relevant topics, and may share with its program partner and the Visa Parties any information received from such inquiries, correspondence, and discussions.
For more information, visit https://www.visa.com.sg/visa-everywhere/innovation/apaccelerator.html#7
