For the third edition of
#PayPalChats, we scored a chat with Anupam Pahuja, General Manager of Technology, APAC. Having just recently judged at the Pitch Fest event to select startups for PayPal’s first incubation startup programme , we thought it would be cool to hear about his own experience as a startup founder and find out his advice for budding entrepreneurs in the FinTech space.
1. Tell us a bit about yourself and what you do at PayPal.
My name is Anupam and I’m the APAC General Manager for Technology, and also the Country Manager for our India business. I spend most of my time in airport lounges while shuttling between cities in India as well as Singapore.
2. Which part of PayPal’s incubation program are you most excited about?
PayPal began as a startup and the startup culture is still deeply embedded in our DNA. Through this nine month incubation program, we journey with these startups through the various challenges that they will face, providing mentorship from our key leaders, giving them access to our VC community. We want to help startups get a leg up in the business world and see them grow to become the unicorns of the next generation.
3. We hear that the new incubation space at PayPal is a pretty cool space. What’s your favorite part about it?
The bar! Seriously though, we have set up a very collaborative environment where technologists can feel comfortable to do their best work and the environment becomes the muse. I strongly believe that breakthrough thinking happens when creativity meets logic; where the right brain and the left brain come together to create something new. I believe the open and flexible space we have created allows that mix to happen, and it helps that it can happen over a few drinks!
4. You were one of the judges at t
he Pitch Fest to select the winning startups, what were your thoughts on the entries?
All the entries were awesome and we had such a difficult time picking those we wanted to incubate! People were prepared, they had a point to make and they were not shy about making those points. I was blown away by the quality of the ideas and founders who had the courage to come pitch before the judging panel.
5. Startups are being bombarded with advice these days. What do you think is one popular advice that they should ignore?
Don’t be afraid to make mistakes, if they are not making mistakes they are not pushing the envelope far enough. Having done three startups myself, at the time when I was ‘in it”, I wish I would have stood up to the VC’s more and not taken the safe path as much. Monetization comes at its own pace, as long as the vision is disruptive, the market need is clearly articulated, and the founders are not afraid to take risks.
6. Why is #FinTech an interesting industry for startups to go into?
Money as we know it is changing. We are moving from paper currency (like cheques) to a world where digital currency is king. There will be more innovation and disruption within the financial sector in the next 10 years than what we’ve seen in the last 50 years. Today, It’s seriously a cool space to be in.
7. What is the one key lesson you have learnt from your previous startup experience?
Things can go from good to bad or vice-versa very quickly- but don’t be afraid!.
8. If you could share some advice with aspiring entrepreneurs, what would it be?
Do it more for vision and the idea, not for the money. Don’t be afraid to ask questions and take risks. Think big not incrementally.
9. Name one startup which has kept you excited and inspired so far.
PayPal! We’re newly independent again but it’s still a really big startup.
10. What is one motto or mantra you live by which has kept you going?
I love this quote by Albert Einstein -
“Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand.”
Thank you for taking the time to share your tips with us, Anupam. You have definitely inspired us to dream bigger and take risks.