In the US, underrepresented founders from the top-funded startups typically receive 43% of the amount of funding as the average startup founded by a white man.

Mastercard’s programme is designed to help close the wealth and opportunity gap in America, providing enterprise partnership readiness training, a dedicated mentor and introductions to investors and the payment giant’s customers.

Participants also have opportunities for technology collaboration and forums to pitch their technology to prospects.

The five startups joining the programme are:

• ChargerHelp: Provides on-demand repairs and maintenance for electric vehicle charging stations using advanced technology solutions
• GoTackle: Reduces economic development organizations’ administrative workload, increasing their capacity to impactfully coach small businesses
• Home Lending Pal: Supplies financial analytics tools to homebuyers and lenders that aim to transform the traditional homebuying experience by combining technological innovation, financial education and a commitment to fair lending practices
• Hopscotch: Helps small businesses more easily manage their invoicing, bill pay and cash flow in one seamless platform
• Meter Feeder: Allows vehicle fleets to quickly and easily make automatic payments for parking and tolling violations, keeping vehicles compliant while future-proofing the revenues of cities