Plug and Play China celebrates its 3rd anniversary

Plug and Play China celebrates its 3rd anniversary

BEIJING, Aug. 28, 2018 /PRNewswire/ -- Recently, Plug and Play China celebrates the 3rd anniversary of its launch in China. Since its inception, Plug and Play China has invested in more than 200 startups and accelerated over 500 startups across 8 major cities in China, including Beijing, Shanghai and Shenzhen.

Plug and Play Tech Center is a global innovation platform headquartered in Silicon Valley. The center has built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. In an effort to build a global ecosystem of technology innovation, they successfully launched China locations in 2015.

In the past three years, Plug and Play China has successfully assimilated traditional Chinese industries with emerging technological innovation.

Highlights in the past three years -

  • Accelerator Programs: broadened programs to 9 industry verticals within the China market, including Internet of Things, Mobility, Fintech, Supply Chain, Real Estate, Insurtech (launched in March 2018), Health (launched in June 2018), Brand & Retail, and Travel & Hospitality. This September, we plan to launch our Energy program in Shanghai.
  • Partnership with Corporates: established partnerships with 117 domestic leading companies in various industries and aided innovation within our global ecosystem. These corporate partners include, Wanda Group, SAIC Group, China Continent Insurance, Wanhua Group, Longfor Real Estate, and Future Land Holdings.
  • City Innovation: achieved city innovation through building high-tech parks, linking local resources, and promoting industrial upgrades with 22 local governments across a number of central cities in China.
  • Investment: invested in over 200 startups; among them many have successfully benefited from Plug and Play China's accelerator programs, therefore completing their following rounds of financing and grew rapidly.
  • Cross-Border Business: Since the inception of our cross-border program, Plug and Play China has successfully hosted 32 cross-border roadshows in China and served over 150+ cutting-edged global startups.
  • International Innovation in Universities: Plug and Play China has established partnerships with more than 30 universities, launching various university innovation labs and entrepreneurial competitions.
  • Accelerator Programs: Plug and Play China has hosted nearly 100 acceleration events, including Batches, Focus Week, and Innovation Day, promoting the achievement of business development matchmaking of over 1,800 startups and bridging the gap to our global ecosystem.

Peter Xu, CEO of Plug and Play China, explained what the ecosystem Plug and Play is trying to build, "Plug and Play truly builds an ecological platform for technological innovation globally. The method of Plug and Play is a proven innovation path through its application in the United States and China. Driven by Chinese governments, China presents the highest efficiency and capability of resource centralization. Coupled with multiple positive factors including market capacity and capital,  Plug and Play China is self-accelerating in China as well." 

"As one of the fastest growing satellite offices of Plug and Play, Plug and Play China has hosted over 30 global corporate partners and more than 100 startups in China's 8 locations in the past 3 years.  We are proud to be able to incorporate all our global resources into China's robust ecosystem," said Jeff Chien, VP of China Partnerships at Plug and Play.

"The China market has a very unique business environment compared to Silicon Valley. VC firms, especially institutional early-stage investors, truly need to integrate into the local ecosystem through the entrepreneur community, university research labs, and VC partners. After immersing in the technology startup world for 3 years, our team is confident in helping our portfolio companies to accelerate globally," said Chen Zhao, EVP and Managing Partner of Plug and Play China.

In next three years, Plug and Play China plans to launch more verticals, collaborate in industrial innovation, invest in more remarkable startups, bring in more high-tech oversea companies to China, serve its global corporate partners with demands of innovation, and involve more major Chinese companies into our global ecosystem.

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