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Source Name: PayPal

PayPal Extends ‘Start Tank’ Incubation Challenge to Student Entrepreneurs

Jan 27, 2015   16:56 IST 
Chennai, Tamil Nadu, India

In an effort to promote a culture of entrepreneurship among the student community, 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.


For the first time since its inception in 2013, PayPal’s Start Tank rolled out its Incubation Challenge at the recently held Entrepreneurship Conclave and Startup Hive at IIT-Madras 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. Several promising concepts such as crowdfunding to support the underprivileged, 3D printing & distribution, ‘green garbage’ waste management, among many others, were also presented by students from several leading universities in the country.


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.”


PayPal launched ‘Start Tank Incubation Challenge’ last year to identify and incubate the country’s next generation tech-centric startups. 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 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 association with TiE Chennai in November 2013 and currently hosts six startups: Do PartTime, Fantain, Hey Feedback,, Konotor, and PiQube.

About PayPal:

At PayPal, we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution, processing almost 11.5 million payments for our customers per day. PayPal gives people better ways to connect to their money and to each other, helping them send money without sharing financial information and with the flexibility to pay using their PayPal account balances, bank accounts, PayPal Credit and credit cards. With our 162 million active digital wallets, we have created an open and secure payments ecosystem people and businesses choose to securely transact with each other online, in stores and on mobile devices. PayPal is a truly global payments platform that is available to people in 203 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies. PayPal is an eBay Inc. (Nasdaq: EBAY) company. In September 2014, eBay Inc. announced the planned separation of eBay and PayPal into independent publicly traded companies in 2015. More information about PayPal can be found at and More information about the planned separation of eBay and PayPal can be found at


About PayPal India Development Centers:

PayPal’s base in India comprises software development centers in Chennai and Bangalore with over 2,000 engineers and knowledge professionals supporting both the eBay Marketplaces and PayPal businesses globally. The India centers are one of PayPal’s key software development centers in the world and are involved in the company’s technology and product development initiatives to improve its global payment platform. The India centers consist of development and quality engineers, solution managers, user-experience professionals, web developers, and project managers as well as site operations, data management, and risk analytics staff. 

Media Contact Details
Swetha Balakrishnan
Edelman, Chennai
+91 8939958127
Subhamoy Das
PayPal India
+91 7799000792
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