PayPal Partners with TiE Chennai to Incubate Tech Start-ups in India
On November 11, 2013, PayPal announced a partnership with The Indus Entrepreneurs (TiE)
Chennai to launch a start-up incubation centre located within PayPal‟s Chennai Development Centre.
Under the partnership, PayPal would provide office space and mentorship to promising start-ups
selected through „PitchFest‟ – a platform for entrepreneurs to showcase their ideas – organized as
part of TiECON Chennai 2013.
Anupam Pahuja, General Manager, PayPal Development Centres, India said, “We are very pleased
to announce this partnership with TiE Chennai.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. PayPal comes with a rich history steeped in strong values and
commitment to the community. It is our social responsibility not only to encourage the growth of tech
start-ups in India but also provide start-ups some of the fundamentals they require to get started.”
Lakshmi Narayanan, President TiE Chennai said, “TiE Chennai is excited to partner with PayPal in
this initiative. This supports ourgoal 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.”
TiECON Chennai 2013 Power PitchFest
TiECON Chennai, the flagship event of TiE Chennai has been setting new benchmarks year
on year and 2013 is no exception. “Power PitchFest”, the annual event as part of TiECON
Chennai enabling entrepreneurs to “pitch” their business plans for mentoring and funding,
has raised the bar several notches this year by extending beyond Chennai to Madurai and
Going by the spirit of TiE - “Fostering Entrepreneurship Globally” - charter members have
been involved energetically in the whole process of Power PitchFest by actively mentoring
and screening high potential companies from the three cities. Over 120 teams who came for
the qualifying rounds were counselled and 27 teams were selected for the finals. These
teams had an opportunity to pitch to over 35 Angel Investor and Venture Capital groups
November 11, 2013.
With mentorship at the core of the program, each company that was flagged as "not yet
ready for external funding" was provided direction in terms of strategic inputs and
connections. In fact, some of the entrepreneurs participating were purely seeking feedback
on their ideas and direction from the mentors rather than funding.
The range of entrepreneurs - from IIT students working on a low cost electric scooter to a
new financial inclusion startup by an established Microfinance entrepreneur to a Western
Tamil Nadu based Cold Chain firm seeking Rs.50 crores to a 10-year-old girl pitching her ecommerce ideas in Coimbatore - PitchFest 2013 has established that entrepreneurship in
Tamil Nadu is vibrant across sectors and even age groups!
TiECON Chennai 2013
TiECON Chennai 2013 Organizing Committee with Conference Chairman Mr. Raju
Keynote Speaker – Mr. Vijay Amirtraj
Lifetime Achievement Awardee 2013 – Ms. Mallika Srinivasan with Dr. Badrinath, Founder,
Sankara Netralaya and Lifetime Achievement Awardee 2012, Mr. Lakshmi Narayanan,
President, TiE Chennai at the extreme left and Mr. Raju Venkataraman, Chairman, TiECON
Chennai 2013 at the extreme right during the Souvenir Release
Entertainment by Prince Dance Group
This is a group from Berhampur, Orissa, India, consisting of 20 members who are construction
This is what a few Sponsors and Delegates had to say about TiECON Chennai 2013
A one of a kind experience
A fantastic conference - highly informative and energizing
An awesome and wonderful experience
Congratulations on organizing a truly world class event. The preparatory work clearly came
out. You have set the bar high !
Congratulations on the stellar show. For sponsors, the event served as a great platform to
showcase the brand while also helping in networking with some very knowledgeable and
For a long time I have not seen a grand scale event with very note worthy speakers and
audience like this one
TiECON Chennai 2013 event has created quite a splash
Great show ! Feast to the mind.
A very versatile panel of speakers
TiECON Chennai 2013 Touched, Taught and Transformed the entrepreneurs !