TMTpost Partners With Plug and Play, The World’s Largest Incubator
Plug and Play, the world’s leading incubator that has incubated giants such as PayPal, Google, Lending Club and Dropbox etc., has set up its office in China. In addition to that, the tech incubator has signed a strategic agreement with TMTpost, in hopes of finding and incubating a group of international tech startups in China and help them go global.
China’s robust startup scene is drawing the attention of investment organizations from all over the world. On October 18th, the Silicon-Valley-based and world’s largest incubator, Plug and Play(PNP), opened its China headquarter at I M WAY, Beijing, marking the innovation platform’s fast entry into the Chinese market.
On the opening ceremony, PNP officially announced to sign a strategic cooperation agreement with TMTpost, which makes PNP and TMTpost strategic partners. TMTpost is a leading professional information service provider in China with a profound influence in its realm as well as in the TMT industry. So what prospect does this partnership hold?
Established in 1998, PNP has already incubated and invested in over 2000 startups, including star companies like PayPay, Google, Lending Club, Dropbox, Logitech etc. that later were valued at over billions of dollars.
PNP’s founder Rahim Amidi was in Beijing for the opening ceremony. He believes that incubators can help quality startups grow into international companies fast. “It’s like investing in and incubating Dropbox’s team back then, while they were just fresh out of the university,” he said.
PNP also wishes to bring quality startup projects and resources from China to American startup hubs such as the Silicon Valley. “The benefit is mutual. We hope to build a bridge that links the resources in China and the Silicon Valley,” said PNP’s senior vice president Marc Stainer.
TMTpost’s co-founder Wan Ning also attended the event. “We share the same belief that technology can in fact change the world. We believe technology is an important driving force of social changes. Helping tech companies make better innovations, help them grow and go global are part of TMTpost’ mission.”
Earlier this year TMTpost has already collaborated with PNP on the SaaS of China project and held the China SaaS Innovative Product Competition in eight cities around the country. “We are planning to further and deepen our cooperation in the future, based on what we have agreed on now. That includes the Going Overseas project, another SaaS project. We want to bring outstanding startups to overseas with this opportunity,” he added.
PNP and TMTpost’ partnership is set to nurture a group of international startups and bring them to the world, letting more people know about Chinese innovative companies.
According to PNP, the company will provide its global incubator network, one-stop entrepreneurship ecosystem, vertical-specific accelerator programs etc. for startups in China. The platform will also provide a gateway that connects startups to resources from fortune 500 enterprises.
As an investment-centric incubator, PNP has established long term strategic relationship with more than 200 venture capital organizations around the globe, with a focus on angel round financing. PNP mainly deals with free funds investing directly in startups. The globally renowned incubator is now considering to set up a professional VC foundation to further their work in this field.
Headquartered in Sunnyvale California, PNP is an incubator and investment organization that belongs to Amidi Group. PNP focuses on tech startups and it’s one of the earliest incubators in the world.
In China, Plug and Play has set up tech startup incubators and accelerators in eight major cities in China, including Beijing, Shanghai, Shenzhen, and Zhengzhou etc. It has already invested and incubated over 200 startups.
TMTpost is dedicated to bringing the most professional and valuable information services to innovative individuals and groups in the TMT industry. TMTpost has several media products centered around TMTpost’s mobile APP, and a core primary market data service, which is backed by the platform’s Potential Investment, TMTpost Research Center and China’s biggest technology executive community ITValue. With its international media products and core primary market data service, TMTpost sets to become the most influential and professional information platform in China with a global outlook.
[The article is published and edited with authorization from the author @TMTpost, please note source and hyperlink when reproduce.]
Translated by Garrett Lee (Senior Translator at PAGE TO PAGE), working for TMTpost.
Originally published at www.tmtpost.com on October 19, 2016.