Frequently asked questions

Mastercard Strive is a global philanthropic initiative - developed by the Mastercard Center for Inclusive Growth and Caribou Digital - that aims to support the resilience and growth of five million small businesses around the world. The initiative will enable these small businesses - many of which have been disproportionately impacted by the pandemic - to reach their full potential as catalysts of inclusive growth by supporting them to digitalize their operations, unlock their access to financial services and more effectively participate in digital markets. By partnering with the private sector, civic, and government organizations from all over the world, Strive will employ a digital and data first approach, helping small businesses increase their use of digital technology and boost their economic potential.

Strive is funded by the Mastercard Impact Fund. The Fund is administered by the Center for Inclusive Growth which advances equitable and sustainable economic growth and financial inclusion around the world.

Strive aims to increase the productivity of small businesses, resulting from the adoption of better practices, products, services, and tools. Ultimately, we anticipate that this will lead to increased resilience, financial security, growth, and work creation as small businesses are able to grow their revenue and support the creation of new or better quality work opportunities in their communities. By partnering with and fostering a community of Entrepreneurial Support Organizations - including non-profits, social enterprises, private sector, and others - who support large networks of small businesses, Strive aims to drive collaboration and innovation while catalyzing sustainable, ecosystem-wide change.

Strive will fund the development of carefully designed digital and data-first tools, products, and services that help small businesses digitalize their operations, meaningfully use financial services, and more effectively participate in digital markets. Grantees will design and craft projects in collaboration with the Strive team and then lead on their execution.

Grantees can be non-profits, social enterprises, private sector entities, and other types of entities which can execute best-in-class innovative projects for the charitable purpose of promoting small business growth. Grantees will be responsible for executing Strive projects. Grants will be disbursed by Caribou Digital in its capacity as the program manager, using philanthropic funding from the Mastercard Impact Fund. Sign up to our newsletter to hear about funding opportunities.

Strive works with strategic partners to ensure relevance and drive scale. Our partners have vast networks of small businesses, understand their challenges well, and can distribute Strive solutions to them in seamless ways. We seek to look beyond traditional development approaches and directly engage the diversity of partners who play an increasingly pivotal role in small business success. We see fintechs, super apps, digital platforms, and social media networks as important partners in delivering Strive programs to small business owners across the world, alongside non-profits, civil society, research entities, and governments. If you would like to partner with the Strive, please get in touch with us.

Strive works with organizations who support businesses that have fewer than 10 employees, are on the path to digitalization and formalization, and have a high propensity for growth. Businesses of this size are vital engines of economic development. They create 23% of jobs globally, contribute significantly to GDP, and spark innovative technologies and business models. These small firms create employment opportunities across broad sectors and geographic areas, and for marginalized segments of the labor force such as the poor, young, older, low-skilled, and women workers. They also provide access to basic goods and services to underserved populations, bridging critical gaps in vocational and formal education, healthcare, water and sanitation, food production, energy, and financial services. Despite all of this, small businesses are often overlooked and struggle to access the critical tools and services they need. The world needs small businesses to thrive so that they can realize their full potential to drive growth that is truly inclusive, sustainable, and self-reinforcing.

Strive is built on the recognition that digital transformation has enabled new ways of supporting small businesses. Our digital and data first approach reflects the broader shift in what is possible and an immediate shift in what is necessary to promote the resilience and growth of small firms, particularly in light of the COVID-19 pandemic. We seek out truly innovative solutions that help small businesses to save time and make more money, and look for grantees who responsibly leverage data and insights to better meet the needs of small businesses.

Strive will support projects across the globe. Read more about the countries we are currently working in on our Programs page.

Strive is managed by Caribou Digital, a research and advisory firm that helps clients change the world through building inclusive and ethical digital economies.

No, Strive will not fund small businesses directly. Please see our Programs page to see the solutions we have developed for small businesses.