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PayPal and TiE invite startups under the Start Tank Program

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PayPal in association with The Indus Entrepreneurs (TiE) has launched a program named Start Tank Incubation Challenge. As part of this venture they would induct five startup companies into the Start Tank Incubation Center located within PayPal’s premises in Chennai. Under this initiative they aim to recognise and support some of the country’s next generation technology-centric startups.

The process of application has started and the companies can apply for the qualifying rounds in in Chennai (September 20), Madurai (September 27), Salem (October 11), Bangalore (October 18), and Tuticorin (October 18). After this process five of the shortlisted applicants will be finally selected through a joint selection process by PayPal and TiE as part of PitchFest 2014.

Talking about this new program, Anupam Pahuja, General Manager, PayPal Development Centers, India, said, “We are excited to launch the third wave of applications from tech startups for Start Tank Chennai through the Incubation Challenge at TiE’s PitchFest. Our aim is to foster the entrepreneurial spirit and focus on building an ecosystem that nurtures entrepreneurship and innovation.”

On the other hand, Lakshmi Narayanan, President, TiE Chennai, said “TiE Chennai is proud to be associated with PayPal in its mission to create a vibrant startup ecosystem. The incubation center created in PayPal facility – mentored by TiE Charter members and PayPal executives has made a difference to young entrepreneurs. Our dream is to the see the emergence of recognizable brands from Start Tank”.

The Start Tank program runs across the globe with the help of PayPal offices in Boston, London and Chennai, and provides access to global mentors, angel investors and venture capitalists. PayPal formally introduced its Chennai startup incubator in association with TiE Chennai in November, 2013. Presently, it hosts four startups namely DoPartTime, Fantain, Hey Feedback, and Kobster.com.

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Heena Gupta

A reader at heart, this girl loves to express through writing. Her ears perk up as soon as she senses any tech molecule in the air. With the ability to use and navigate typical technologies she becomes a complete tech enthusiast. This post graduate in Mass Communication lives in the world of gadgets. Fiction, history and cartoons keep her busy in the free time. Her urge to grow mixed with excellent writing skills forces us to have her as a part of our workforce.

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