Plug and Play, a Silicon Valley accelerator and early-stage startup investor, is opening an office in Chicago to connect with the city's food and beverage industry.
Plug and Play announced Wednesday that it's launching a Chicago office that aims to help startups, corporations and investors who are working at food and beverage companies in the city. The firm will run a food and beverage accelerator program out of the Windy City, similar to the program it has held annually at its headquarters in Silicon Valley since 2017.
Plug and Play has also held food and beverage programs in Bangkok, Milan, São Paulo and Shanghai.
The firm's Chicago program will offer business development, mentorship and networking opportunities for startups, investors and large food companies, Plug and Play said. It plans to run two programs in Chicago per year, accepting between 10 and 15 companies per cohort.
Plug and Play's Chicago programming will also include "Innovation Days," which are designed to take place inside its partner corporations' offices, with the goal of showcasing startups to larger food companies.
Plug and Play's founding Chicago corporate members include PepsiCo, Mondelēz International, DuPont, The Hershey Company and ADM.
"We look forward to starting our journey in Chicago," Michael Olmstead, chief revenue officer at Plug and Play, said in a statement. "Our partners will bring their knowledge, expertise, and experience to help our startups grow. Connecting these key stakeholders and industry experts will bring new ideas to the food industry in a location ripe for disruption."
Founded in 2006, Plug and Play's alumni companies include PayPal, Dropbox and LendingClub.
