PayPal News Update: Startup Blueprint Program Launched
PayPal News Update: In order to offer assistance to start-up companies, PayPal have set up a scheme that waives up to $50000 of start-up administration fees.
Most companies will make it or break it within the first 18 months of being a presence on their chosen market and they often need a little push to get them on their way. PayPal have announced that they will be launching their PayPal Startup Blueprint scheme wherein they waive the start-up fees that are usually charged to companies.
The offer is of course capped, at either 18 months or $50000 depending on which limit the company hits first. The idea is to help them get off the ground and hopefully assist with their success – all start-ups aim to get up and running as quickly as possible, PayPal are just looking to assist with this and get them earning sooner as well.
There is an eligibility bracket of course in order to receive the funding, the digital start-up company must be in its first five years of operation and be bringing in less than $3million revenue per annum. This is so that the companies who are granted the assistance are actually start-ups, the offer is so tempting and will save the respective companies so much money that it could be taken advantage of.
PayPal News Update
Not only will PayPal help financially they will also offer what is referred to as “white glove” assistance. This is help that targets more than just the financial side, they assign a locally based PayPal employee to help companies with their accounts and business models which will also help them get the most out of their business.
Before launching the scheme PayPal conducted research and found that start-up companies do not only want financial assistance, they want the complexity of the payments removed and explained.
In addition to making sure they fit into all of the above categories in order to receive the funding, they must also have been nominated either by PayPal themselves or by one of their incubator companies. PayPal have struck up deals with several companies including 500Startups, Seedcamp and Elevator; all of which have expressed their enthusiasm for being involved in such a scheme.
The Startup Blueprint Program plays right into the hands of all of these companies’ targets and so are more than willing to participate and offer their perspective on who should receive the assistance.
If you would like to contact PayPal and discuss the possibility of receiving such assistance, call the PayPal phone number and speak with a member of their customer services team.
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