Kickstart Ventures Inc., a wholly owned subsidiary of Globe Telecom, has tapped California-based global accelerator Plug and Play Tech Center (PnP) as an international corporate partner, thereby giving select Philippine tech startups a bridge to Silicon Valley.
“Plug and Play will work with Kickstart to first identify technology areas of interest, and we will then seek out high-tech startups that are developing innovative products or solutions in these areas and help them grow their business,” said Saeed Amidi, chief executive officer and founder of Plug and Play Tech Center.
PnP said that it has started to build partnerships in different countries such as Canada, Egypt, Malaysia, Singapore, Spain, Russia and Germany and now in the Philippines.
“The world looks to Silicon Valley for innovation, entrepreneurship and venture capital success stories, and even as we build a unique Philippine startup ecosystem, there is much to learn from those who are genuinely driving innovation in the valley” said Minette Navarrete, president of Kickstart.
PnP currently has a network of 300 tech startups, 180 venture capital investors, and a community of university and corporate partners.
Through PnP, new tech businesses which want to make it big in Silicon Valley can rent office space; join industry networking events, education and immersion programs; and get introductions to potential customers, investors or acquirers.
In January 2006, PnP helped startups raise over $1 billion in venture funding. Its startup companies have created a cumulative value of $2 billion.
It has partnerships with top-tier venture capital firms such as Sequioa Capital, Menlo Ventures, Norwest Venture Partners, Draper Fisher Jurvetson and Accel Partners.
Corporate partners include Google, Lenovo, Microsoft, Zanox, Best Buy, HP, PayPal and Sun Microsystems.
Globe said that as a corporate partner of PnP, Kickstart will establish a presence in its partner’s Silicon Valley office, and send select startup teams to the area for a three-month incubation program.
Rosalie C. Periabras