Bangalore: Start-up companies today are giving tough competition to big companies in terms of efficiency, speed, design and almost every aspect of a consumer’s need. People and businesses have started preferring start-ups over the established players. No wonder, start-ups have become the new pet projects of some of these major companies.

Tech giants Microsoft, PayPal and Qualcomm all have recently announced the incubators which they are planning.  These incubators will give workspace, guidance and development support to each business they incubate.

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The online payment service’s COO David Chang recently said that it would convert its new Boston office space into an incubator for five separate companies that participated in the MassChallenge start-up competition earlier this year. The companies, travel site Wanderu, recycle service Greenbean Recycle, investment company BuysideFX, web ad developer Nsyrt, and hiring aid SkillHound will move into the incubator in December and spend up to an year. After this, new startups will take the space.

"We think it’s more than just the space. It's another way to encourage entrepreneurship in Boston,” Chang told the newspaper.