PayPal India Pvt Ltd, the online payment company owned by eBay Inc., has selected two tech startups for its Start Tank Incubation programme in Chennai, India. The startups were chosen from 11 startups that pitched their businesses at the Start Tank Incubation Challenge final on October 31, 2014.
"As a company that was started by young entrepreneurs, PayPal recognises the importance of encouraging growth of tech startups and the development of an entrepreneurial ecosystem. We truly believe that the new incubatees will benefit from our technology mentorship and the obligation-free environment we provide at Start Tank," said Anupam Pahuja, GM- technology (for APAC) at PayPal.
The Start Tank incubation programme aims to identify and nurture next-generation technology startups. The incubation facility at PayPal's Chennai development centre has an office area of more than 11,000 square feet.
Here are the two startups picked for the programme:
Clockwork Interviews Pvt Ltd: The startup offers an online hiring tool called PiQube that uses Big Data analytics to impact the process of hiring. A recruiting tool for matching candidates across the web, it helps businesses take effective decisions based on talent analytics.
The tool crawls continuously across various social and professional networks to create socio-metric profiles for recruiters. Furthermore, it clubs together all social profiles into one in order to help recruiters with candidates' profiles.
Demach Software India Pvt Ltd: It offers Konotor, a user engagement platform for mobile apps. The app helps users to write within the app. One can also get his/her team mates or support agents to provide live support for the app users. Users can also use voice messaging as an alternate to phone calls.
Konotor was one of the two winners of Qualcomm's QPrize 2014 India edition that concluded in May this year, and received $125,000 in funding from Qualcomm Ventures and Accel Partners as part of the programme.
Start Tank runs globally across PayPal offices in Boston and London, besides Chennai, and provides access to global mentors, angel investors and venture capitalists. PayPal had launched its Chennai startup incubator in association with TiE Chennai in November 2013, and currently hosts four startups that include DoPartTime, Fantain, Hey Feedback and Kobster.com.