PayPal will hold its PayPal Incubator in Chennai; the five startups selected for the PayPal Incubator include Finbox, Neoeyed, Paymatrix, Scalend and Tybo; the incubation program is in its fifth year and PayPal will be taking an undisclosed stake in each company; the program also offers technology counsel and mentorship, infrastructure support, and networking opportunities with investors and customers. Source
