PayPal steps up efforts to incubate S-E Asian startups

"TO SHED its image as "just a payments company", and affirm its commitment to be in the business of making other businesses better, PayPal is doubling down on efforts to nurture startups from Singapore and South-east Asia.

In 2019, PayPal plans to incubate 10 early-stage fintech startups from the region through PayPal Incubator, the incubator platform it set up in 2016 within PayPal's Singapore office.

PayPal's target of 10 startups for the next year is twice the yearly average number of startups it has supported in the last two years. Since its inception, PayPal Incubator has run two incubation programmes and nurtured nine startups, which works out to about five startups each year."

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