SUNNYVALE — Plug and Play announced that 156 startups were accepted into eight of its programs. These programs will run from April through June and include Energy & Sustainability, Enterprise 2.0, Health & Wellness, Insurtech, Internet of Things, Mobility, Real Estate, and Travel & Hospitality. The acceptance rate for these batches was less than 2%. The list of accepted companies is posted on their website: bit.ly/pnpsummer2018
“Plug and Play is here to fuel innovation and give startups an opportunity to team up with the largest players in their industry,” said Saeed Amidi, Founder and CEO of Plug and Play. “We are excited to welcome the newest startups into the Plug and Play ecosystem.”
Selected startups will go through a three-month program centered on business development. The companies will have the chance to secure pilots, POCs, and investments from Plug and Play’s extensive network of 220 corporate partners. Plug and Play does not take equity as a prerequisite to join the program. Upon graduation, these startups will enter into Plug and Play’s global ecosystem and will continue to be part of the community through deal flow and events.
“I could not be more thrilled about the quality of the startups across all our programs. We have already seen some early engagements from our corporate partners and funding events on their way. Judging by the first few days, this will likely be the best cohort yet,” shared Ivan Zgomba, Partner at Plug and Play Ventures.
These 156 startups will graduate at Plug and Play’s Summer Summit June 12th-14th.
Companies in the Plug and Play community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.