Plug and Play Seeks Chicago Startups for Its Accelerator Program.
The global startup accelerator and investment fund behind such greats as PayPay, Dropbox, Lending Club, and Zoosk, Plug and Play, have recently announced the launch of Plug and Play Chicago. The application deadline has been dated for May 25th and Selection Day in Chicago will be held during May 29th. The program can be applied to by visiting the site.
Startups will receive an amount between $25,000-$100,000 in funding and will become a part of the 10 week program of workshops, mentoring and streamlined access to plug and play’s daily venture capital and corporate partner deal-flow sessions. Plug and Play allows the bridge from the entirety of the globe to Silicon Valley, where over 50% of all venture capital are currently located. With exceptional mentors, service partners, corporate deal-flow and VC relationships, startup will gain access to one of the most qualified and extensive support networks to ever be possibly available.
Plug and Play has manage to team up with Steve Olechowski, co-founder of Feedburner, which was acquired by Google, and Michael Marasco, Professor and Director of the Farley Center for Entrepreneurship & Innovation at Northwester University, while in Chicago.
Steve has further elaborated on the partnership:
“I’ve built four startups in Chicago and even though the startup ecosystem has never been stronger, I have always felt it was extremely important for my technology companies to have a strong connection to Silicon Valley. Feedburner would not have been successful without that strong relationship to the Valley.”
“With this in mind, and after working with Saeed Amidi, CEO and Founder of Plug and Play in Spain, Berlin and Sunnyvale, I saw the perfect opportunity to bring Plug and Play’s unique take on startup acceleration to the community in Chicago.”
Professor Marasco describes the program’s value as a platform:
“As an active angel investor and educator at a global institution, I recognize the value of a network that is not tied to one geography. My former students have participated in Plug and Play’s accelerator where they have built priceless connections through their experiences and as a result, their businesses would not be as far developed today. Plug and Play really understands this bridging dynamic and has institutionalized it within their facilities, network and capital resources.”
Robin Ardeshir, Plug and Play Chicago’s Program Director, states:
“We believe it is important for startups to visit and learn from Silicon Valley early on into their startup journey. Be around the energy, learn from the best and start building relationships. We encourage startups to grow their teams and business at home, using Plug and Play as a platform or gateway to raise further funding and meet the right people at the larger corporate players.”
Two Chicago startups that have experience the excitement of Plug and Play program also emphasize Plug and Play’s network. Dan Roberts, CEO, Scout says:
“Whether we need connections to the venture world, or are exploring strategic partnerships, the team at Plug and Play makes the connection and helps us grow”. Riley Scott, CEO, Aisle50 says “Having a Silicon Valley connection has been important because many technology decision-makers and investors are there.”
The Plug and Play Chicago team, along with a variety of local venture and corporate partners, will create the selection panel during May 29th. Chicago is the latest Plug and Play city, and furthermore to Plug and Play’s U.S. activities and engagement in 25 regional locations.