Plug and Play to set up first centre of India in Hyderabad

Hyderabad: The world's largest leading innovation platform Plug and Play Tech Centre would be launching their first Centre in Hyderabad.

This was announced by the Plug and Play team after a meeting they had with Industries Minister KT Rama Rao in Paris. The meeting was held on the sidelines of the Ambition India event hosted by the French Government and Business France. Plug And Play's network includes over 35,000 vetted start-ups globally in its Playbook, over 530 world-leading corporations, and 1,500 active portfolio investments as on date.

They have raised $9 billion in venture funding. It has 37 offices worldwide, including Silicon Valley in the USA, Stuttgart in Germany, Paris in France, Osaka in Japan, Shanghai in China, Valencia in Spain, Amsterdam in the Netherlands, and several other countries. Plug and Play has accelerated 2,056 start-ups in the year 2020 (585 in USA, 438 in EMEA, and 1,042 in Asia).

The company made 162 strategic investments in 2020.

In Hyderabad, Plug And Play would be focusing on building the ecosystem for Mobility, IoT, Energy, and Infrastructure. The next step would be to expand to Fintech and Life sciences/ Healthcare. Seattle-based Triangulum Labs, a Venture Foundry, would be partnering with Plug and Play Tech Center in Hyderabad to run the Incubation for the IoT and Smart Cities.

The MD for the Germany and Startup Autobahn- Sascha Karimpour, said Plug and Play will build the most successful collaboration platform in India and emulate the success of the Startup Autobahn in Germany, which in record time, became an international epicentre for new tech collaboration between established corporations and tech start-ups in the mobility sector."