diff --git a/lib/ServerlessComponent.js b/lib/ServerlessComponent.js
index 4ef5f78d6..0f410a855 100644
--- a/lib/ServerlessComponent.js
+++ b/lib/ServerlessComponent.js
@@ -268,18 +268,27 @@ class ServerlessComponent {
 
     return BbPromise.try(function() {
 
+        writeDeferred.push(
+          fs.mkdirSync(_this._config.fullPath),
+          fs.mkdirSync(path.join(_this._config.fullPath, 'lib'))
+        );
         // Runtime: nodejs
         if (_this.runtime === 'nodejs') {
-
           let packageJsonTemplate = SUtils.readAndParseJsonSync(path.join(_this._S.config.serverlessPath, 'templates', 'nodejs', 'package.json')),
             libJs = fs.readFileSync(path.join(_this._S.config.serverlessPath, 'templates', 'nodejs', 'index.js'));
 
           writeDeferred.push(
-            fs.mkdirSync(_this._config.fullPath),
-            fs.mkdirSync(path.join(_this._config.fullPath, 'lib')),
             SUtils.writeFile(path.join(_this._config.fullPath, 'lib', 'index.js'), libJs),
             SUtils.writeFile(path.join(_this._config.fullPath, 'package.json'), JSON.stringify(packageJsonTemplate, null, 2))
           );
+        } else if (_this.runtime === 'python2.7') {
+          let requirements = fs.readFileSync(path.join(_this._S.config.serverlessPath, 'templates', 'python2.7', 'requirements.txt')),
+            initPy = fs.readFileSync(path.join(_this._S.config.serverlessPath, 'templates', 'python2.7', '__init__.py'));
+
+          writeDeferred.push(
+            SUtils.writeFile(path.join(_this._config.fullPath, 'lib', '__init__.py'), initPy),
+            SUtils.writeFile(path.join(_this._config.fullPath, 'requirements.txt'), requirements)
+          );
         }
 
         return BbPromise.all(writeDeferred);
diff --git a/lib/actions/ComponentCreate.js b/lib/actions/ComponentCreate.js
index 7dc3597d0..1c08d790b 100644
--- a/lib/actions/ComponentCreate.js
+++ b/lib/actions/ComponentCreate.js
@@ -231,8 +231,13 @@ usage: serverless component create`,
      */
 
     _installComponentDependencies() {
-      SCli.log('Installing "serverless-helpers" for this component via NPM...');
-      SUtils.npmInstall(path.join(this.S.config.projectPath, this.evt.options.component));
+      let _this = this;
+      if (_this.runtime === 'nodejs') {
+        SCli.log('Installing "serverless-helpers" for this component via NPM...');
+        SUtils.npmInstall(path.join(this.S.config.projectPath, this.evt.options.component));
+      } else if (_this.runtime === 'python2.7') {
+        SCli.log("Python functions don't install dependencies by default...");
+      }
       return BbPromise.resolve();
     }
   }
diff --git a/lib/templates/python2.7/requirements.txt b/lib/templates/python2.7/requirements.txt
new file mode 100644
index 000000000..8c157a865
--- /dev/null
+++ b/lib/templates/python2.7/requirements.txt
@@ -0,0 +1,2 @@
+# learn about this file here:
+# https://pip.pypa.io/en/stable/user_guide/#requirements-files