PayPal introduces Start Tank incubator for student entrepreneurs

PayPal has announced the beginning of its Start Tank incubator for the students who aspire to start their own enterprise. The incubation centre in Chennai will act as a host and will groom the student entrepreneurs from across top universities to pitch their tech ideas and turn them into reality.

The Start Tank incubation initiative of the company started in 2013. The company also introduced the Incubation Challenge at the recently held Entrepreneurship Conclave and Startup Hive at IIT-Madras and selected two teams from the competition. They will now have a direct entry into the finals of the Incubation Challenge to be conducted later this year, and upon selection, get incubated at Start Tank.

Speaking about giving this opportunity to the students, Anupam Pahuja, General Manager, Technology – Asia-Pacific, PayPal, said, “Extending the Start Tank Incubation Challenge to student entrepreneurs comes with the commitment of supporting their innovative startup ideas and tech concepts. It is encouraging to see many students in India daring to dream to give wings to their ideas and set up business ventures. Through Start Tank, we aim to help them with the right kind of mentorship and guidance to enter the market right after graduation.”

Start Tank runs globally across PayPal offices in Boston, London and Chennai, and provides access to global mentors, angel investors and venture capitalists. PayPal formally launched its Chennai startup incubator in association with TiE Chennai in November 2013 and currently hosts six startups: DoPartTime, Fantain, Hey Feedback, Kobster.com, Konotor, and PiQube.