“With its origins as a startup, PayPal has grown to become a global leader in the payments industry today, and we are proud to help the new wave of aspiring entrepreneurs take their first steps towards a successful venture,” he said.

Leaders in business and academia will also attend Startup Weekend Chennai to guide the participants with their proposals. The applicants at Startup Weekend Chennai will brainstorm their ideas, form groups based on their interests, meet mentors and discuss varied topics such as code designing as well as market validation before presenting their final plans at the end of the weekend. Each team at Startup Weekend Chennai gets $100 of free AWS Credit, $500 of Google Cloud Platform credits to build mobile and web apps, and a free .co domain.

The Startup Weekend sessions organized in India have so far witnessed the launch of seven startups, including SocialShout, Ridingo and Gaze Metrix, two of which have received angel funding.

In Chennai, PayPal supports the local entrepreneurship ecosystem through Start Tank that provides early stage startups a world-class incubation space and access to global mentors, angel investors, and venture capitalists. The Start Tank runs globally across PayPal offices in Boston, London, and Chennai. PayPal formally launched its Chennai startup incubator in association with The Indus Entrepreneurs (TiE) Chennai in November 2013 and currently hosts four startups.

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