Shanghai startup hopefuls just need to Plug n Play
Print Edition
A SILICON Valley incubator firm that helps startups, including connecting them with investors, has partnered with several industry giants including Bosch China and SAIC since it launched operations in Zhangjiang Town one year ago.
The Plug and Play Tech Center has had more than 50 corporate partners and successfully handled 65 projects in Shanghai.
Eric Pang, general manager of the foreign-funded incubator, arrived in Shanghai alone last September. Now he has nine people working for him.
The average age of Pang’s team is 27 but they are quite experienced — every month they have to study more than 100 projects.
The company, headquartered in Sunnyvale, California, has helped more than 4,000 startups since 2006. About 350 startups make a home in its headquarters and many others do the same in its tech centers around the world.
“We offer startups working space, but not merely this,” said Pang.
Indeed, startups partnered with PnP have raised more than US$3.5 billion since 2006. PnP also works closely with hundreds of venture capital firms, universities and large companies worldwide.
Big names such as Google, Paypal and Logitech started their business with PnP.
Saeed Amidi is the owner of Plug and Play and its chief designer. He calls Plug and Play, “Silicon Valley in a Box.”
“Around 90 percent of our value is through our connections. We will help startups with funding, help them acquire more customers, and help fine-tune their business until it meets customer demand,” Amidi said.
If Amidi is the chief designer, then Alireza Masrour is PnP’s chief engineer. He believes that driving a business fast isn’t about the straight roads, it's about the bends. His philosophy is the more you prepare, practice, test and learn, the better your odds at success and ultimately, your exit.
His primary goal is to prepare the startup for accelerated growth and a pole position in the relevant industry.
Amidi and Masrour were not satisfied with simply helping local Silicon Valley companies, so they expanded their business to 22 locations around the world.
PnP started its business in China in 2014.
Last month PnP brought 13 overseas firms to China looking for investors and potential opportunities.
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