Paypal Unveils Fourth ‘Start Tank’ Incubation Challenge, Inviting Applications From Fintech Startups

PayPal has announced the launch of its fourth round of Start Tank Incubation Challenge for early-stage startups in payments and financial space.

Start Tank incubator helps startups reaching out to global mentors, angel investors and venture capitalists. This year, Start Tank will focus around startups in the FinTech space, these will include startups working around wallets, gateways and remittances, as well as payments enablers and adjacencies like biometric authentication, security and financial inclusion.

The early-stage financial technology (FinTech) startups can apply for the program here by October 23, 2015.

The incubated startups will be offered technology and business mentorship, infrastructure support and networking opportunities from both investors and customers.

Curated applicants will undergo two rounds of pitching and post that they will pitch to the jury panel at the annual TiECON Conference in Chennai on October 30, 2015.

The panel will include senior leaders from PayPal as well as prominent venture capitalists and entrepreneurs in India.

PayPal’s Start Tank incubator was started in 2013 in partnership with The Indus Entrepreneurs (TiE). The incubator provides an obligation-free environment for early-stage startups to evolve at its exclusive facility in PayPal’s technology center in Chennai.

Till date, Start Tank incubator hosted six startup challenges. This year in May, three companies viz, Kobster, Fantain and DoPartTime graduated from the Start Tank Incubation Center in Chennai.

Out of which, Kobster secured an undisclosed amount of seed investment, while PiQube, another startup currently being incubated at Start Tank, recently raised $500,000 from The HR Fund.

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