Last Tuesday, Jacqui and I revisited the Plug & Play Tech Center in Sunnyvale. It had been our Silicon Valley home for large chunks of time between 2010-2015. It was good to be back.
Whilst the address had not changed, the campus’s interior had. A new Events Center had been built on the ground floor and the reception area featured many more corporate partner logos than during our last visit in 2018. It reflects a clear change in direction for some of the Center’s thinking and strategy. This is seeing a much greater focus on corporate partner engagement and certain key technology verticals. Food & agritech is one.
The other big change over the past few years is Plug & Play’s offshore presence. It now has offices in over 40 locations. Sadly, Oceania (New Zealand, Australia, the Pacific Islands) are not part of this mix. Given that the region is home to a number of ‘unicorns’ – Atlassian, Xero, Canva, Culture Amp, Go1, LinkTree, Safety Culture, to name a few, it’s a missing piece in the region’s wider tech ecosystem. The flipside however, wearing my WNT Ventures hat, is that the number of local and global venture funds located in, or relocating to the region, is increasing. Investment activity over the past few years into high growth local technology firms has never been greater.
As we head back to the Bay area for June’s 2023 Salinas Biological Summit, it will be interesting to see how Plug & Play’s work in the food & agritech space develops. Their corporate partner engagement strategy will play a key part in this. It’s a playbook that has been rinsed and repeated. With over 30 unicorns on their own investment portfolio playlist, it’s a strategy that pays off.
Despite the rain and wind that met us on North Wolfe Road as we arrived at the Center, many thanks to Willian Li (pictured above) and Jackie Hernandez for welcoming us back. It was a blast!