PayPal has selected the five UK tech startups that will move into its London offices for six months as part of a new mentoring programme.
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 have won a place on the London programme are:
- BarPass, an app that lets users view menus, order and pay from their mobiles
- Henchman and Co, a restaurant and shop delivery app
- Localz, a micro-location platform for integrating iBeacon tech into apps
- Megatransfert Finance, a system for converting telephone plans in euros
- And Trendii, a platform that "gives you the tools to create something new and imaginative every day"
The firms 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.