Furukawa Electric Group Announces Partnership with Plug and Play

SUNNYVALE, CA April 30, 2019 — Furukawa Electric Group, one of the world’s largest ferrous metal manufacturers which has a wide variety of products such as optical fiber, electric wires and automotive components, and Plug and Play, a global startup accelerator and corporate innovation platform headquartered in Silicon Valley, today announced a strategic partnership focused on advancing technological innovation in the IoT (Internet of Things).

“Partnering with Plug and Play is a very important step for Furukawa Electric Group to meet with promising startup companies,” said Noriyuki Yokouchi, General Manager, Silicon Valley Innovation Laboratories, American Furukawa, Inc. “We opened our laboratories to focus on open innovation to create new technologies and businesses by using cutting edge information concentrated in this area. We will assist startup companies in commercialization by our knowledge and expertise of wide variety of products in infrastructure fields, such as telecommunications and energy, as well as in other fields such as automotive components and electronics, based on our four core technologies — metals, polymers, photonics and high-frequency electronics. We strongly believe that our collaboration with startup companies will realize the next-generation businesses to solve social problems. We are looking forward to meeting with large numbers of startup companies at Plug and Play.”

For more information about Plug and Play’s IoT program, visit: https://www.plugandplaytechcenter.com/internet-of-things/

About Furukawa Electric Group & American Furukawa, Inc.

Furukawa Electric Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, metals, polymers and photonics. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. Furukawa Electric reported consolidated revenues of USD 8.7B for the fiscal year ended March 31, 2018 with global operations that include 122 group companies in 26 countries and employ more than 50,000 people. American Furukawa, Inc., a part of Furukawa Electric Group, is headquartered in Michigan, and has Silicon Valley Innovation Laboratories focusing on open innovation. For more information, visit https://www.furukawa.co.jp/en/

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 280 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal. For more information, visit http://plugandplaytechcenter.com