Knight Foundation Awards $2 Million Grant to Plug and Play to Advance AI Innovation in San Jose

The grant will support the development of a collaborative AI ecosystem, fostering innovation and economic growth in San Jose

SAN JOSE, Calif., Feb. 4, 2025 /PRNewswire/ -- Plug and Play, a leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies, today announced a $2 million grant from Knight Foundation. This private-philanthropic partnership marks a significant step toward fostering innovation in San Jose by supporting entrepreneurs and building a more collaborative artificial intelligence ecosystem.

Knight Foundation's investment will help launch Plug and Play's AI Center of Excellence, an initiative designed to attract top talent, nurture innovation, and position San Jose as a hub for entrepreneurs. With Knight Foundation's support, the AI Center of Excellence aims to create new economic opportunities and foster AI innovation across the city.

"Our collaboration with Knight Foundation aims to create new opportunities and foster innovation in AI in San Jose," said Saeed Amidi, CEO and Founder of Plug and Play. "Together, we will explore the potential of AI, starting in downtown San Jose."

The San Jose AI Center of Excellence will focus on supporting startups developing AI technologies, connecting them with corporate partners, and creating opportunities for collaboration. The initiative will also emphasize the development of practical AI applications, accelerating the adoption of innovative solutions to create a more efficient ecosystem across the region.

Investing in 26 cities across the U.S. where the Knight brothers once owned and operated newspapers, Knight Foundation supports the development of thriving communities for a more effective democracy. In San Jose, Knight Foundation seeks to strengthen economic resilience and empower entrepreneurs to solve real-world challenges through AI, driving long-term benefits for the San Jose community.

"San Jose is home to so many talented tech entrepreneurs," said Allan Madoc, San Jose Director at Knight Foundation. "Knight Foundation's investment in Plug and Play is an exciting opportunity to fund and develop talent in the city while kick-starting more creative AI solutions to improve the rapidly growing field."

The center is set to officially launch in April 2025. The launch event will engage the local community, showcase promising startups, and lead discussions around the potential of AI in San Jose and beyond.

To learn more about the AI Center of Excellence initiative, please visit: https://www.plugandplaytechcenter.com/locations/san-jose.

About Plug and Play
Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 60+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/.

About Knight Foundation
We are social investors who support a more effective democracy by funding free expression and journalism, arts and culture in community, research in areas of media and democracy, and the success of American cities and towns where the Knight brothers once published newspapers. Learn more at KF.org.

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SOURCE Plug and Play