PayPal is bringing its Start Tank programme to the UK, inviting the country's tech startups to apply for one of five chances to win a six month stint at its London offices.
Already up and running in Boston, Start Tank gives early stage tech firms free space at PayPal's offices and a host of support designed to help them grow their businesses.
The five firms that win through in London will get access to mentors from a network of executives from PayPal, Braintree and external advisors, as well as the chance to mingle with angel investors and VCs.
Participants also get access to all the benefits included in PayPal's Startup Blueprint programme, such as waived fees, and a dedicated customer care team.
At the end of the six-months, the startups will present their vision and business models at a demo day. PayPal says that it won't take any equity in the firms.
Startups have until 18 August to apply.
Interesting and no doubt a decent opportunity for start-ups.
Its not entirely clear what Paypal get from this. Are they looking to recruit these guys? Are they looking for their developers to learn something? Are they juicing the VCs?
c.£70-100K base, commission + equityLondon, UK
© Finextra Research 2015