Global innovation platform Plug and Play announced on Monday it recently celebrated the third anniversary of its Plug and Play China program. The organization reported that the program has invested in over 200 startups and accelerated more than 500 startups across a total of eight major cities in China, which includes Beijing, Shanghai, and Shenzhen.
Highlights from the program’s run so far include the following:
- Accelerator Programs: Program to include 9 industry verticals within the China market, including Internet of Things, Mobility, Fintech, Supply Chain, Real Estate, Insurtech (launched in March 2018), Health (launched in June 2018), Brand & Retail, and Travel & Hospitality, with plans to launch Energy program in Shanghai.
- Partnership with Corporates: Established partnerships with 117 domestic leading companies in various industries and aided innovation within our global ecosystem. These corporate partners include JD.com, Wanda Group, SAIC Group, China Continent Insurance, Wanhua Group, Longfor Real Estate, and Future Land Holdings.
- City Innovation: Achieved city innovation by building high-tech parks, linking local resources, and promoting industrial upgrades with 22 local governments across a number of central cities in China.
- Cross-Border Business: Has successfully hosted 32 cross-border roadshows in China and served over 150 global startups.
- International Innovation in Universities: Has established partnerships with more than 30 universities, launching various university innovation labs and entrepreneurial competitions.
Speaking about the program, Peter Xu, CEO of Plug and Play China, added:
“Driven by Chinese governments, China presents the highest efficiency and capability of resource centralization. Coupled with multiple positive factors including market capacity and capital, Plug and Play China is self-accelerating in China as well.”