PayPal Sets Up Incubation Center At Chennai, Promotes Startup Culture
Bangalore: PayPal, the international online money transfers company, has set up an incubation center at Chennai to promote a culture of entrepreneurship and help boost the growing technology start-up ecosystem in the country, reports The Hindu.
PayPal, under a partnership with The Indus Entrepreneurs (TiE) Chennai, is all set to provide office space, mentoring, technical training, and networking opportunities to start-ups. The online payment provider who already has incubation centers at Boston and New York, its office at Chennai is the first time that the PayPal has tied up with an external agency according to according to Anupam Pahuja, General Manager, PayPal Development Centers India.
Incubation centers are increasingly getting popular in India, with all the fervent startup activity taking place. The Incubation centers offers the required infrastructure for the startups to avoid initial costs while helping them to roll out their first product before going to first round of funding.