Plug and Play Tech Center, a global innovation platform headquartered in California, is expanding to the Valley.
Plug and Play, which connects startups, corporations, investors and universities, is opening a location next month in the Arizona Commerce Authority's office in downtown Phoenix.
"There are only a few special places in the world where key stakeholders such as governmental entities, local entrepreneurs and VCs, and business or university leaders welcome you with open arms,” Saeed Amidi, founder and CEO of Plug and Play, said in a statement. "Everyone I've encountered in Arizona has been incredibly supportive and motivated to create the most business-friendly community possible.”
The Silicon Valley-based innovation platform will work with program partners, including the ACA, to identify startups in the Phoenix area relevant to solving programs in specific industries. Plug and Play is selecting 10 to 20 startups for its inaugural batch, which will focus on advanced manufacturing. Startups will go through a three-month program and complete curriculum on business development, strategic growth and networking.
Plug and Play, along with the ACA, will support the startups with connections to their ecosystem and potential capital.
Plug and Play, which operates programs in 50 places worldwide, said it selected Phoenix for a new location because it has a robust startup community and leading companies across targeted industries, as well as close collaboration among startups, industry, government, and education to foster innovation and future growth.
"We are incredibly excited to partner with Plug and Play to take Arizona's startup ecosystem to the next level," Sandra Watson, president and CEO of the Arizona Commerce Authority, said in a statement. "Plug and Play's Arizona office will be a catalyst for innovation in key target industries like advanced manufacturing, supply chain, sustainability, and more.”
Plug and Play organizes startup acceleration programs and has an in-house venture capital firm that has invested in companies such as Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi.
"Arizona is thrilled to facilitate this groundbreaking partnership with global technology leader Plug and Play," Arizona Gov. Katie Hobbs said in a statement. "Plug and Play sets the standard for accelerating innovation and collaboration, finding the next generation of breakthrough technology. Their new office in Arizona will be a powerful force connecting promising startups with leading industry companies to create deep social and societal impact.”
