Innovation Platform Plug and Play to set its sights on SEA with 6 new partnerships in Asia Pacific announced for 2021

SINGAPORE, Nov. 19, 2021 /PRNewswire/ -- Plug and Play, a global innovation platform that operates across more than 30 locations, has announced 6 new partnerships as part of its plan to accelerate open innovation in the Asia Pacific region. Joining Plug and Play's ecosystem of more than 500 industry leading corporations will be AboitizPower, a leading energy company from the Philippines; Sime Darby Plantation, the world's largest producer of Certified Sustainable Palm Oil; multinational insurance company Prudential plc, leading taste and nutrition company Kerry Group, Singaporean real estate group CapitaLand and Thailand's largest agricultural distribution centre, Simummuang Market.

"2021 has been a great year for us despite the global pandemic. We have launched new programs and we welcome 6 new corporate partners joining our ecosystem here in Asia-Pacific. We are ardent supporters of digitalization and open innovation, the needs for which have been made even more apparent now," said Jupe Tan, Managing Partner of Plug and Play Asia Pacific.

Headquartered in Silicon Valley, Plug and Play drives innovation by matchmaking industry-leading corporations with top potential startups. Notable recent success stories include Thailand's largest oil refinery Thai Oil, which partnered with Singapore-based waste solutions startup Ecoworth, as well as another Singapore startup Filpass, which partnered with Philippines' Amino Labs for its blockchain based temper proofing technology.

On the investment front, Plug and Play's in-house venture arm is on target to achieve pre-COVID levels of activity of more than 200+ investments globally in 2021, bringing our total investment numbers to around 1,600 portfolio companies. On top of that, the company has also minted more than 10 new unicorns this year, and that includes companies like Shippo, Blockdaemon and Flutterwave. In Asia Pacifc, Plug and Play has made more than 10 investments this year with a further 15 portfolio companies that have closed follow-on fundraising. Some notable names include Ion Mobility, RaRa Delivery and Sayurbox.

Since launching its Asia Pacific headquarters in Singapore in 2010, Plug and Play has actively expanded its operations in Southeast Asia to include Indonesia, Thailand, and the Philippines. The company has more than 12 programs covering more than 15 verticals spanning across the region with a strong focus on Sustainability, Fintech, Insurtech, Health Tech, Smart Cities, and Food and AgTech.

As part of its ongoing efforts to lead innovation in Southeast Asia, Plug and Play will be hosting its bi-annual APAC Summit from the 23rd to 25th of November. The virtual webinar will showcase more than 100+ startup pitches from its regional programs, and over 20+ industry-leading speakers focusing on topics such as market expansion, emerging technologies, and scaling partnerships. Interested participants may find out more or register for the event here.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 35 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 30,000 startups and 500 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $9 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal.

For more information: visit www.plugandplayapac.com

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