PayPal announces Incubator Challenge for fintech startups

PayPal announced the launch of the fifth edition of the PayPal Incubator Challenge.

Early-stage financial technology companies, including startups across the country specialising in loyalty, machine learning, big data and logistics, among others can compete for a spot in the PayPal Incubator.

Launched in 2013 in partnership with The Indus Entrepreneurs (TiE), the incubator provides a conducive environment for early-stage startups to grow and evolve. In an exclusive facility at PayPal’s Technology Center in Chennai, the PayPal Incubator offers startups technology counsel and mentorship, infrastructure support and networking opportunities for both investors and customers.

“The recent demonetization has created a behavioural shift towards digital payments and as we build next-generation solutions, the Incubator will help elevate and drive innovation, propelling India into a less-cash economy,” said, Guru Bhat – GM Technology & Head of Engineering– PayPal.

Successful applicants will be contacted to undergo two rounds of pitching before the final companies are selected by a jury panel. The panel will include senior leaders from PayPal as well as prominent venture capitalists and entrepreneurs in India.

Applications are open from today and will close on January 31, 2017.

The winners of the 2015 PayPal Incubator Challenge were FinTech startups CashFree, Codemojo, Notifie and ftcash.