Plug And Play Tech Centre, an innovation platform that runs startup accelerator programs has announced that its first centre in India will come up in Hyderabad. The announcement was made after Telangana Industries and Information Technology Minister K.T Rama Rao met the company's leadership team in Paris. Plug And Play announced that they will be officially launching the centre in Hyderabad in the first week of December in the presence of KTR, and the Founder and CEO of Plug And Play, Saeed Amidi.
At the proposed centre in Hyderabad, Plug And Play will be focusing on building the ecosystem for mobility, Internet of Things (IoT), energy, and infrastructure. The next step would be to expand to fintech and life sciences/healthcare. Seattle based-Triangulum Labs, a Venture Foundry will be partnering with Plug and Play Tech Centre in Hyderabad to run the incubation for the IoT and Smart Cities.
The main goals for the Plug And Play in India would be to build India's best and biggest hub for start-ups, corporates and investors, partner with leading corporations from India and internationally to accelerate their start-up collaboration and become the gateway for Indian start-ups to work efficiently with leading corporations and be able to expand internationally.
Plug and Play Tech Center has its global headquarters in Sunnyvale, California in the Silicon Valley. The leadership team from Plug and Play met the Telangana government's delegation led by KTR in Paris. According to a statement released by the minister's office in Hyderabad on Saturday, October 30, the meeting was held on the sidelines of the Ambition India event hosted by the French government and Business France at the French Senate in Paris.
According to the statement, Plug And Play has accelerated 2,056 start-ups and made 162 strategic investments in 2020. It is the early investor in Google, PayPal, Dropbox, LendingClub, N26, Soundhound, Honey, Kustomer, and Guardant Health. "In Hyderabad, we like to focus on the topics Mobility, IoT, Energy and Infrastructure and in the next step, possibly expand to Fintech and Health," said Omeed Mehrinfahr, Plug and Play MD and Co-head EMEA (Europe, the Middle East and Africa).