In a nutshell
McKinney Economic Development Corp. officials announced a strategic partnership with the platform Dec. 7. Headquartered in Silicon Valley, Plug and Play aims to connect startups with corporations and investors in order to boost innovation, according to its website.
"As Plug and Play expands its presence in the United States, we are excited to join forces with the McKinney Economic Development Corporation to launch a new office in McKinney, Texas,” Plug and Play CEO and founder Saeed Amidi said in a statement. “This strategic partnership reinforces our commitment to driving innovation and nurturing startups in local communities. Together, we look forward to fostering a culture of continuous exploration and growth in North Texas."
Plug and Play officials hope to open the new office in January, said Sherif Saadawi, vice president of partnerships. The location’s inaugural accelerator program focusing on enterprise and AI is expected to start in March.
Officials are in the process of securing dedicated office space, so a location has not been finalized yet, Saadawi said.
McKinney’s partnership with Plug and Play will aim to “invigorate the local innovation landscape by connecting startups, partners, clients and investors,” according to the news release.
Plug and Play manages more than 50 locations across the world. Its network includes more than 550 corporate, government, venture capital and university partners seeking collaboration or investment opportunities in early-stage startups.
The platform has invested in more than 1,600 companies over the past 17 years.
Quote of note
“We are incredibly passionate about and intentional with innovation here in McKinney,” said Michael Kowski, president and CEO of the McKinney Economic Development Corp., in a statement. “This partnership represents a deepened commitment to partner with like-minded organizations that will further strengthen that culture of innovation and technology in our own hometown. We are thrilled to welcome Plug and Play to McKinney as we look to the future of technology in McKinney and this region as a whole.”