New Startup Blueprint program for Startups by PayPal

PayPal is teaming up with accelerators, incubators and venture capital firms to provide mentorship, customer service and free payment processing. For companies in the new program, called Startup Blueprint, PayPal will waive up to $50,000 in transaction fees for the first 18 months.

Whether you are just breaking ground or building for growth, Startup Blueprint provides access to the foundational tools you need to monetize your business. The program looks to be mutually beneficial, as it will encourage promising startups to use PayPal, the world's largest online payment processor, for their transactions. PayPal is focusing on tech startups that are building software or hardware for the web and mobile devices. Only private companies making less than $3 million a year or less than five years old are eligible for the program. And there is no application process; startups must be either nominated by a Blueprint partner or invited to join by PayPal itself.