PayPal India in partnership with The Indus Entrepreneurs (TiE) Chennai will launch the Start Tank Incubation Challenge to identify and nurture next generation technology-centric startups. Through this it will induct up to five start up companies into the Start Tank Incubation Center located within PayPal’s premises in Chennai.
Applications are open for start-ups across India with qualifying rounds in Chennai (September 20), Madurai (September 27), Salem (October 11), Bangalore (October 18), and Tuticorin (October 18). Up to five of the shortlisted applicants will be finally selected through a joint selection process by PayPal and TiE as part of PitchFest 2014, according to a company press release.
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.
Pre-venture-funded, seed or early-stage technology startups can benefit from TiE’s business mentorship leveraging its seasoned entrepreneur pool, PayPal’s technical mentors and eBay Inc.’s global technology and product competency, the release said.