According to Strategy Eye, PayPal is creating a ‘startup accelerating program’ that will provide direct competition to Microsoft’s BizSpark mentoring and support program.
The program was announced by PayPal product development VP Osama Bedier, who says the program will focus on allowing companies to make the right connections.
PayPal will introduce startups to venture capitalists and provide companies with a business relationship manager who can hook them up with potential partners.
PayPal hopes to benefit from the partnership because the program may allow it to forge commercial partnerships with the hottest startups. Funding and resources will also be provided by PayPal.
Photo by PayPal.