Plug and Play Tech Center is building the world’s leading innovation platform. Through their accelerator program, they connect the brightest startups from all over the world to large corporations and venture capitalists to drive change in supply chain and logistics in the Greater Savannah Area and beyond.
History & Overview of Plug and Play Tech Center
Plug and Play was built in the early 1990s by CEO and founder Saeed Amidi. A real estate investment in 1988 proved beneficial over the long-term, not because the property appreciated in value, but because of the startup tenants that inhabited the space. These included young entrepreneurs who would develop companies known as Google, Logitech, Paypal, and others. This experience solidified Amidi’s passion for helping startups grow, leading to what Plug and Play is today.
Plug and Play is based in Silicon Valley with 50+ locations and 20 different verticals all over the world. Plug and Play’s offices serve industries respective to their locale. Given the Georgia Ports and the symbiotic businesses in the area, Savannah has an ideal infrastructure and community to foster a world-class supply chain and logistic innovation program.
Plug and Play first developed an office in Savannah in 2020 in partnership with the Savannah Economic Development Authority, Savannah Logistics Innovation Center, Georgia Southern University, and the Georgia Ports Authority. To date, the Savannah location has run two accelerator programs, which attracted startups from all over the world.
Plug and Play’s Services
Plug and Play focuses on three areas of services:
- Corporate Innovation – Plug and Play connects corporations seeking innovative solutions to their network of 30,000+ carefully-curated international startups. They set up one-on-one dealflows or meetings between Corporate partners and a selection of startups that can provide solutions to the key challenges of those corporations. The end goals of dealflows are pilot or proof-of-concept (POC) opportunities, investments or acquisitions.
- Accelerator Programs – Plug and Play runs two tracks of accelerator programs every year across the world in over 20+ industries. Whether startups are raising their first round of seed funds or Series C, they are eligible to apply. If accepted, startups pitch at a Selection Day event to Plug and Play partners and decision-makers. Startups that are selected will participate in a cohort of roughly 10 startups over several months during which they will be connected to large corporations as potential customers, receive world-class mentorship, and have access to Plug and Play’s Venture Capital network. Additionally, if Plug and Play finds a company a good fit for their portfolio, they invest between $25,000 to $500,000 to become a stakeholder in the startup’s future. Their goal is to invest in at least 30% of the companies that are accepted into each program.
- Venture Capital – Plug and Play invites co-investors to their fund. They actively participate in rounds with other VCs, help to boost their portfolio companies, and connect their corporate partners to the investors. They work with over 300 of the world’s most prominent VCs to ensure that they source the best startups in the world for their innovation platforms.