Plug and Play Unveils Groundbreaking Semiconductor Accelerator Program to Fuel Innovation at NeoCity

KISSIMMEE, Fla., Sept. 19, 2023 /PRNewswire/ -- Plug and Play, a world-leading Silicon Valley-based innovation platform is joining forces with Osceola County to ignite innovation at NeoCity in an agreement approved by the Osceola County Commission on Monday.

Plug and Play's collaboration with Osceola County, BRIDG, and imec marks a significant milestone in the evolution of the 500-acre technology district. The company connects startups, corporations, venture capital firms, universities, and government agencies.

With an international presence encompassing over 60,000 startups, 550 corporations, and hundreds of venture capital firms, universities, and government agencies across diverse industries, Plug and Play is firmly established as a leading innovation platform. Operating in 50+ locations across five continents. The company's suite of corporate programs guides partners from education to execution.

"We made the strategic decision to focus on semiconductor applications and can't imagine a better location for Plug and Play's newest endeavor than at NeoCity," stated Saeed Amidi, Founder and CEO of Plug and Play. "This is a first for Florida, and we are excited to partner with Osceola County, BRIDG, and imec to make this milestone announcement."

This location in Osceola County will focus on semiconductors and innovations that fall within that tech sector, which aligns with efforts already embedded at NeoCity. The agreement is set to drive economic growth and catapult NeoCity into a global innovation hub, attracting both burgeoning tech entrepreneurs and established firms while securing substantial investment for the region.

"We eagerly anticipate welcoming Plug and Play to NeoCity and to our community," said Osceola Commission Chairwoman Viviana Janer. "This strategic partnership represents a quantum leap forward in realizing NeoCity's potential as an epicenter for technological innovation. There is seamless connectivity within Plug and Play's ecosystem that fosters an environment of unparalleled advancement. Together, we are poised to illuminate the path to a brighter, technologically advanced future for NeoCity, Osceola County, and beyond."

Plug and Play's collaborations include over 550 global giants as well as nurturing a portfolio of over 30 unicorn startups that include PayPal, Dropbox, Lending Club, N26, Big ID, Flutterwave, Honey, and many more. Through their in-house VC, Plug and Play has already invested in over 30 semiconductor companies, including one unicorn, Quantenna Communications.

"Open innovation is the cornerstone of our business philosophy, and today, we are thrilled to announce our foray into the world of semiconductors. Our legacy partners, including industry titans like Mercedes-Benz, JLR, Bentley, Porsche, Stellantis, ZF, Bosch, STMicroelectronics, NXP, Intel, and Samsung, have expressed tremendous interest in our semiconductor venture, and we enthusiastically said 'yes' to their interest," said Rouzbeh Borhani, Head of Plug and Play Semiconductors. "Within our dynamic ecosystem, innovative startups stand ready to address the entire semiconductor value chain, and NeoCity is an ideal place to kick things off officially."

Plug and Play will launch a semiconductor program in early January 2024 designed to accelerate up to two batches of startups per year in NeoCity. This program will provide a comprehensive array of resources, including workshops, mentorship sessions, EXPOs, business development, and investment opportunities, all geared towards participating corporate entities and startups within the semiconductor industry. Focus areas of the program include advanced packaging, deep tech technologies, as well as national security-related initiatives.

With current investment in existing infrastructure made by Osceola County focused on microelectronics to diversify its economy, the new accelerator will integrate and advance semiconductor research, development, industry application, and manufacturing capabilities.

"This is the final piece to BRIDG's strategy, which aligns imec's R&D services with Plug and Play's strength in commercialization," stated Jim Vandevere, president of BRIDG. "We join our partners in celebrating this announcement and look forward to continued growth at NeoCity as we accelerate innovation and strengthen our role as the microelectronics advanced packaging hub for the nation."

The announcement reinforces the region's commitment to enabling an innovative ecosystem that can help ensure the U.S. retains its technological advantage for developing and manufacturing secure advanced integrated systems.

"Imec, with an illustrious 40-year history of fostering innovation in the semiconductor industry and cultivating partnerships with leading U.S. innovators, is delighted to extend a warm welcome to Plug and Play, a renowned entity with a rich entrepreneurial legacy, as they become an integral part of the thriving ecosystem at NeoCity. Plug and Play's exceptional track record will play a pivotal role in elevating promising innovations into tomorrow's industry leaders. Our heartfelt congratulations go out to Plug and Play, BRIDG, and Osceola County," said Max Mirgoli, Executive Vice President of Global Strategic Partnerships, imec.

The State of Florida was part of important introductory conversations that led to the agreement that Commissioners approved this week.

“Under Governor DeSantis’ leadership, Florida is making targeted investments in competitive industries that create a ripple effect of opportunity for job creators and job seekers -- one of many reasons Florida is the ideal place to start and grow a business,” said Florida Secretary of Commerce J. Alex Kelly. “Osceola County and Plug and Play's investment in NeoCity will further our efforts to secure economic growth for Florida families for years to come.”

For more information about Plug and Play's operations in NeoCity, please contact:
Rouzbeh Borhani
[email protected]

SOURCE Plug and Play