Plug and Play Announces Expansion Plans in Frisco, Texas
FRISCO, TEXAS, November 28, 2023 – California-based Plug and Play announced today it will open an office in Frisco, Texas, bringing a series of startup business accelerator programs specific to Frisco’s innovation ecosystem.
"We are so proud to launch Plug and Play Frisco in an effort to build the world's most impactful Sportstech program. By identifying, investing, and accelerating the most promising startups, we will build a robust ecosystem of local and global stakeholders to engage with us and the rest of the community," said Saeed Amidi, Founder and CEO of Plug and Play.
This expansion comes as a strategic partnership with the Frisco Economic Development Corporation (EDC). In October, the Frisco EDC’s Board of Directors approved a performance-based incentive agreement with Plug and Play. In the first year, Plug and Play Frisco will run a Sportstech accelerator program focused on human potential and performance. In future years, Plug and Play Frisco plans to add additional cohorts reflective of the North Texas innovation ecosystem focused on areas such as health, fintech, cybersecurity, and smart city technologies.
"As Sports City USA, Frisco is an epicenter for innovation focused on maximizing human potential and performance," said Jason Ford, Frisco EDC President. "This collaboration with Plug and Play will attract more investors to Frisco and strengthen our partnerships across many business technology verticals that help support local employers and corporates that continue to innovate in our own backyard.”
Frisco, one of the fastest-growing cities in the U.S. for the past decade, is now home to more than 500 tech firms, including 350 startups. Since 2020, there has been a growing demand for an innovation center in Frisco to provide services to scale startups.
“Frisco has big ambitions when it comes to fostering innovation as our goal is to be the Venture Capital Capitol of the Central U.S. by 2040," said Frisco Mayor Jeff Cheney. "This partnership with Plug and Play directly supports that effort. The services and corporate connections Plug and Play brings to Frisco also helps bridge a gap in support for entrepreneurs in the local startup community by providing access and education to early-stage companies looking for funding and corporate involvement.”
Frisco’s partnership with Plug and Play directly aligns with the Frisco City Council’s goals. Frisco EDC has been instrumental in developing and implementing a strategy to attract venture capital and support innovation, including partnering with Plug and Play to bring their programming and platform for startups, investors, and corporate innovation to Frisco. This partnership will provide resources and support to help scale businesses in Frisco’s innovation ecosystem, bridging the gap between startups and potential partners, corporates, and investors.
In August this year, Plug and Play announced their expansion to Cedar Park, Texas, making Frisco their second location in the state and first in North Texas.
"We are excited at the opportunity to see our model flourish in Frisco. The foundation for their innovation ecosystem has already been built and has strong support from the public and private sector," said Michael Olmstead, Chief Revenue Officer of Plug and Play. "Our model will serve as a multiplier and a vehicle that builds bridges to global ecosystems and creates vibrancy locally in an effort to support all stakeholder ambitions."
With over 50 locations worldwide, Plug and Play is a global leader in bringing together an ecosystem of startups, corporations, venture capitalists, governments, and universities to drive innovation forward. Plug and Play brings their partners to the forefront of industry trends and assists them in every phase of their innovation journey.
For more information on how to get involved with Plug and Play Frisco, please visit: pnptc.com/join.
About Plug and Play
Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 50+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/.
About the Frisco EDC
The Frisco Economic Development Corporation operates as a Texas non-profit corporation and is governed by a seven-member board of directors appointed by the Frisco, Texas City Council. Our mission is to create new jobs and improve the economic opportunities and quality of life for all Frisco residents. The Frisco EDC is one of the leading public economic development agencies in the State of Texas, closing $333 million in new development, and generating more than 5,600 Frisco-based jobs from multiple fortune and tech headquarter relocations in 2022. For more information, visit FriscoEDC.com.
Plug and Play Media Contact
Allison Romero
allison@pnptc.com
Frisco EDC Media Contact
Emily Pollard
EPollard@FriscoEDC.com