Considered as world’s largest internet payment companies, PayPal has set up Start Tanks across the globe to offer relevant assistance to IT start-ups. On the threshold is a plan to set up Start Tank, an incubation centre in Bengaluru which houses its development centre too. Currently, PayPals’ Start Tanks are located in Chennai, Boston and London.
Start Tank adopts tech centric startups which are yet in their nascent stages to nurture and develop them further by providing them investors, mentors and even funds through venture capital agencies.
The Start Tank at Chennai came into being in October 2013 in association with The Indus Entrepreneurs (TiE) and included six technology based startups viz. ups DoPartTimes, Kobster, Fantain, Hey Feedback, Clockwork Interviews and Demach Software.
Considering Bengaluru is the IT capital of the country, it makes sense to have a presence there and reach out to many more start ups that are likely to prop up in the coming times of the ecommerce boom. In the future, PayPal has announced its intentions of helping new startups in Shanghai and Singapore, both located in Asia.
Reference – http://goo.gl/QBHAIS