PayPal today announced a partnership with The Indus Entrepreneurs (TiE) Chennai to launch a start-up incubation centre located within PayPal's Chennai development centre.
According to the press release, under the partnership, PayPal will provide office space and mentorship to start-ups selected through 'PitchFest' - a platform for entrepreneurs to showcase their ideas - organised as part of TiECON Chennai 2013.
Anupam Pahuja, general manager, PayPal Development Centre, India, commented that "together, we will contribute to making our economy more competitive by helping smart people with bright ideas to build products and services that can compete with the best in the world".
It is our social responsibility not only to encourage the growth of tech start-ups in India but also provide startups with some of the fundamentals they require to get started, he added.
Lakshmi Narayanan, president of TiE Chennai, said that this supports the organisation's goal of fostering entrepreneurship through a variety of activities, including mentoring, education and networking. This initiative with PayPal offers incubation as an offering from TiE Chennai for the first time. Charter members of TiE Chennai will be available to mentor budding entrepreneurs in the PayPal incubation centre.
The Indus Entrepreneurs (TiE) was established in 1992 in Silicon Valley, with the aim of fostering, nurturing and enabling entrepreneurship. Today it has more than 15,000 members and 62 chapters worldwide.
TiE Chennai has over 130 Charter Members and 500 Associate Members. Charter members are successful entrepreneurs, venture capitalists, corporate executives, or senior professionals who commit to contribute towards the mission of fostering entrepreneurship at TiE Chennai.
According to the press release, under the partnership, PayPal will provide office space and mentorship to start-ups selected through 'PitchFest' - a platform for entrepreneurs to showcase their ideas - organised as part of TiECON Chennai 2013.
Anupam Pahuja, general manager, PayPal Development Centre, India, commented that "together, we will contribute to making our economy more competitive by helping smart people with bright ideas to build products and services that can compete with the best in the world".
It is our social responsibility not only to encourage the growth of tech start-ups in India but also provide startups with some of the fundamentals they require to get started, he added.
Lakshmi Narayanan, president of TiE Chennai, said that this supports the organisation's goal of fostering entrepreneurship through a variety of activities, including mentoring, education and networking. This initiative with PayPal offers incubation as an offering from TiE Chennai for the first time. Charter members of TiE Chennai will be available to mentor budding entrepreneurs in the PayPal incubation centre.
The Indus Entrepreneurs (TiE) was established in 1992 in Silicon Valley, with the aim of fostering, nurturing and enabling entrepreneurship. Today it has more than 15,000 members and 62 chapters worldwide.
TiE Chennai has over 130 Charter Members and 500 Associate Members. Charter members are successful entrepreneurs, venture capitalists, corporate executives, or senior professionals who commit to contribute towards the mission of fostering entrepreneurship at TiE Chennai.
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