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PayPal opens Start Tank incubator for entrepreneurs

PayPal has opened the doors of its Start Tank incubator for students aspiring to start enterprise. It hosts and grooms tech startup companies

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Sanghamitra Kar
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CHENNAI, INDIA: PayPal has opened the doors of its Start Tank incubator for students aspiring to start their own enterprise. The incubation center in Chennai, which hosts and grooms tech startup companies, now encourages student entrepreneurs from across top universities to pitch their tech ideas and turn them into reality.

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PayPal’s Start Tank rolled out its Incubation Challenge  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.

The winning idea of ‘delivering logistics via drones’ was pitched by a team of MTech students from IIT-M and the runner-up idea ‘pushing dynamic ads into mobile games in place of the obtrusive banner ads’ came from a team of dual degree students, also from IIT-M.

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.”

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After IIT-Madras, PayPal has now partnered with SASTRA University, to organize the incubation challenge as part of their techno-management fest to be held in Thanjavur in February 2015.

Interested applicants, student/non-student entrepreneurs, can register for Start Tank Incubation Challenge with their tech-centric ideas at PayPal’s Start Tank.

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 and currently hosts six startups: DoPartTime, Fantain, Hey Feedback, Kobster.com, Konotor, and PiQube.

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