Startup Investor Plug and Play Comes Out to Play in UK

“As a global hotspot for innovation and home to a strong network of entrepreneurs, the UK has the potential to be one of Plug and Play’s biggest innovation platforms.”

Positive news is on the way for startups as US-based corporate innovation platform and early-stage investor Plug and Play has launched in the UK. 

Through partnerships with UK brands – including founding partners Jaguar Land Rover and BT Group – Plug and Play will build and run its innovation programmes. It aims to make up to 30 investments per year into the nation’s early-stage startups.

Saeed Amidi, CEO and Founder of Plug and Play, states: “As a global hotspot for innovation and home to a strong network of entrepreneurs, the UK has the potential to be one of Plug and Play’s biggest innovation platforms.”

Founded in 2006 and headquartered in Silicon Valley, Plug and Play says it has helped more than 500 organisations from around the world with its programmes across more than 40 locations. It has focused on industries such as fintech, insurtech, IoT, brand and retail, mobility, new materials and packaging, sustainability, food and beverage, travel and hospitality, health and supply chain.

Plug and Play has backed more than 250 startups every year. Notable companies backed at an early stage include PayPal, Dropbox, N26, Lending Club, Hippo, Rappi, Honey, Applyboard, Flutterwave and Turing. It could be argued that any UK-based startup that gets support from Plug and Play in the future will feel they are on the right track.

The Plug and Play UK team will be led by Kieran Borrett, who is also a UK Insurtech Board Member at Tech Nation.

Jaguar Land Rover and Plug and Play will build an innovation platform with a focus on mobility and cover a range of topics from sustainability to digital services. The platform will also support Jaguar Land Rover in achieving its target of net zero by 2039.

François Dossa, Executive Director, Strategy and Sustainability, Jaguar Land Rover, notes: “We will explore everything from second-life batteries and the circular economy to new fintech, insurtech, and digital services.”

BT Group and Plug and Play will support BT’s Startup partnerships team and look for action in such things as enterprise technologies, health, fintech, drones and to boost BT’s 5G network ambitions.

Meg Blight, Start-up Partnerships Director at BT Group, adds: “Plug and Play’s international Innovation Platform gives BT a key route to connect with the best startups worldwide.”

The Plug and Play UK programme will begin with a Kick-Off Day on 21 June, with further corporate partners to be announced soon.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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