To encourage students in top-notch universities to become entrepreneurs, US-based on-line money transfer service provider, Paypal has launched Start tank incubator challenge for students who aspire to start their business.
The PayPal Start Tank incubator was launched in association with TiE Chennai in November 2013 and currently hosts six startups: DoPartTime, Fantain, Hey Feedback, Kobster.com, Konotor, and PiQube.
The center which has an office area spanning over more than 11,000 square feet with a world-class incubation space, state-of-the-art conference rooms and other amenities will help groom students to start up their own enterprise. This move will encourage student entrepreneurs from across top universities to pitch their techs ideas and turn them into reality. Also, the student entrepreneurs will now get an opportunity to compete with non-student entrepreneurs and get incubated at Start Tank.
A team of MTech students from IIT-M pitched the winning idea of “delivering logistics via drones” and the
the runner-up idea, “pushing dynamic ads into mobile games in place of the obtrusive banner ads” came from a team of dual degree students, also from IIT-M.
Both the teams will now have a direct entry into the finals of the Incubation Challenge that will be conducted later this year, and upon selection, they will get incubated at Start Tank.