Paypal To Open Its Incubation Centre 'Start Tank' In Bangalore Next Year

Paypal is all set to open its incubation centre 'Start Tank' in Bengaluru next year. PayPal India, in partnership with The Indus Entrepreneurs (TiE) Chennai Chapter, already have Start Tank, the startup incubator, in Chennai at PayPal's Chennai development center.

Start Tank, which is a part of the Corporate Social Responsibility (CSR) program of PayPal, provides a cost and obligation-free environment for the selected startups to evolve. Start Tank incubates earlystage tech-centric start-ups for an average 12 months. It provides them with access to mentors, investors and venture capitalists.

"Our future destination for Start Tank is Bengaluru as we have a development centre there," said Anupam Pahuja, general manager at PayPal Development Centres India. "We also plan to help the startup ecosystem in Shanghai and Singapore."

The upcoming Start Tank inucbation center in Bangalore will incubate various startups from Karnataka and host them at its development centre, although the number of startups to be incubated has not been announced yet. The incubation centre will incubate early-stage startups for an average of 12 months, and provide them with access to investors, mentors and venture capitalists.

Start Tank was launched in Chennai in October last year under a partnership with The Indus Entrepreneurs (TiE). It currently houses six technology start-ups. Apart from Chennai (India), Start Tank have its presence in Boston and London as well. PayPal said it would eventually expand the centre to cover Shanghai and Singapore as well.

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