PayPal brings two new startups at its ‘Start Tank’ Incubation Center

CHENNAI, INDIA: PayPal India has announced that it has selected two new tech startups for its ‘Start Tank’ Incubation Center in Chennai.

The winners — Clockwork Interviews Private Limited and Demach Software India Private Limited — were chosen from among 11 other startups that presented their business pitch at the Start Tank Incubation Challenge.

The Incubation Challenge was launched in September 2014 across four cities in Tamil Nadu to identify and nurture some of the country’s next generation technology-centric startups.

“TiE Chennai welcomes the two new tech startups for the Incubation Center at PayPal facility. I am excited to see their promising business ideas, and I am sure that the mentorship that will be provided by TiE Charter members and PayPal technologists will help them become recognizable brands,” Lakshmi Narayanan, president, TiE Chennai, said.

Jayadev Mahalingam, co-founder of PiQube, a product of Clockwork Interviews, a Hiring Analytics company, said, “We are eagerly looking forward to the technology and business mentorship support from PayPal and TiE, and we hope to make the most of this opportunity to fuel our business.”

PayPal’s Start Tank provides an obligation-free environment for select startups to evolve. The exclusive facility in PayPal’s Chennai development center has an office area of more than 11,000 square feet with a world-class incubation space, state-of-the-art conference rooms and other amenities.

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 November 2013 and currently hosts four startups: DoPartTime, Fantain, Hey Feedback, and Kobster.com.