PayPal launches Startup Blueprint in eight APAC markets
By Digital News Asia September 18, 2014
- Four SEA markets covered: Indonesia, Malaysia, Philippines and Singapore
- Helps startups monetise and connect with 152mil active account holders
US payments giant PayPal and payment gateway Braintree have announced the launch of Startup Blueprint in eight markets in Asia Pacific: Australia, Hong Kong, Indonesia, Japan, Malaysia, the Philippines, Singapore and Taiwan.
In a statement, PayPal said Startup Blueprint is the first global startup programme in the payments industry for high-tech startups.
Braintree is a Chicago, Illinois-based company that was acquired by eBay for US$800 million last September. PayPal itself became a wholly-owned eBay subsidiary in 2002.
The Startup Blueprint programme partners with startups from the best incubators and accelerators, helping the next generation of mobile and web companies monetise their businesses and connect with 152 million active account holders.
“Startup Blueprint is a great programme for startups. What's better than a dedicated team from PayPal working with founders to make sure monetisation is taken care of?” said Jeffrey Paine (pic), founding partner of Golden Gate Ventures and director at Founder Institute Singapore.
The programme comes at a critical juncture in Asia Pacific’s startup scene as more people in the region’s large population come online via smartphones and tablets, PayPal said.
“We know every cent matters and we do not expect anything in return. PayPal and Braintree are driving Startup Blueprint because we have been there,” said John Lunn, senior global director, PayPal and Braintree Developer & Startup Relations.
“We want to help startups get up and running. This programme empowers payment capabilities and supports each startup’s growth,” he added.
Through Startup Blueprint, startups can enjoy free payment processing for up to a transaction value of US$1.5 million with PayPal and US$100,000 with Braintree.
The Braintree service is only available in Australia for the moment and will be available elsewhere soon, PayPal said.
In addition, startups will have access to a dedicated team of advisors, all of whom have started their own companies or been involved with early stage startups. Each advisor will provide one-on-one mentorship, workshops and continuous white glove support.
The Startup Blueprint programme has more than 45 partners in EMEA (Europe/ Middle East/ Africa), Asia Pacific and North America including locally headquartered East Ventures (Japan, Indonesia and Singapore), Golden Gate Ventures (Singapore), Joyful Frog Digital Incubator (Singapore), 1337 Accelerator (Malaysia) and Startmate (Australia).
Globally, Startup Blueprint partners with incubators, accelerators and venture capitalists worldwide including Seedcamp, 500 Startups and TechStars.
“We think the Startup Blueprint programme would be a valuable resource to startups in this region,” said 1337 Accelerator chief executive officer Bikesh Lakhmichand (pic).
“Every little saving gained from such a programme is like a little investment back into their business in aid to take them further,” he added.
To be eligible for the programme, startups must be:
- Focused on mobile or web software or services;
- Privately held and make less than US$3 million annually or are less than five years old; and
- Nominated by a Startup Blueprint partner: incubator, accelerator or venture capitalist.
Since its inception, Startup Blueprint has engaged hundreds of startups around the world and has nurtured several successful businesses like Memebox, Blitsy, Telnyx and Swivl.
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