Plug and Play, a California-based innovation platform, recently revealed its plans to launch a new office in Frisco, its first location in the North Texas area.
The move follows the approval of a performance-based incentive agreement by the Frisco Economic Development Corporation’s (EDC) Board of Directors back in October of this year.
With the expansion, the company says that it will look to bring “a series of startup business accelerator programs specific to Frisco's innovation ecosystem."
Initially, Plug and Play Frisco says it will focus on a Sportstech accelerator program that emphasizes human potential and performance. Other future plans include adding cohorts centered on health, fintech, cybersecurity, and smart city technologies, catering to North Texas's innovation landscape.
"We are so proud to launch Plug and Play Frisco in an effort to build the world's most impactful Sportstech program,” said Saeed Amidi, founder and CEO of Plug and Play. “By identifying, investing, and accelerating the most promising startups, we will build a robust ecosystem of local and global stakeholders to engage with us and the rest of the community."
Over the past 10 years, Frisco has been one of the fastest-growing cities in the U.S., housing over 500 tech firms, including 350 startups.
Amidst a growing demand for a startup-focused innovation center, Frisco City Council says that the partnership with Plug and Play aligns with their goals for the Dallas-Fort Worth suburb.
"Frisco has big ambitions when it comes to fostering innovation as our goal is to be the Venture Capital Capitol of the Central U.S. by 2040," said Frisco Mayor Jeff Cheney. "This partnership with Plug and Play directly supports that effort. The services and corporate connections Plug and Play brings to Frisco also helps bridge a gap in support for entrepreneurs in the local startup community by providing access and education to early-stage companies looking for funding and corporate involvement."