Plug and Play has opened an office in Switzerland, which, according to a newsletter distributed by the canton of Schwyz, is located in Schindellegi. Plug and Play is a global innovation platform, which was founded in the USA back in 2006. The platform brings together start-ups, global enterprises and investors, while it also invests in start-ups itself. Plug and Play now operates more than 25 locations around the world.
Saeed Amidi, Founder of Plug and Play, had previously announced plans for Switzerland in November. “My plan is to invest in a minimum of 20 Swiss start-ups each year”, he claimed in an interview with “Neue Zürcher Zeitung”. His focus will be on fintech and smart cities. According to the newspaper article, the two insurance groups Zurich and Swiss Re initiated the Swiss expansion plans. Plug and Play has actually been working with several major Swiss firms for a long time already – these include Roche, Novartis, Manor, SIG, Credit Suisse and Swiss Post. Moreover, various Swiss start-ups have previously taken part in funding programs organized by Plug and Play, for example the two Zurich-based fintech firms Squirro and Qumram.