Plug and Play China

What Plug and Play China does

Plug and Play China (璞跃中国) is the Chinese subsidiary of the Silicon Valley-originated Plug and Play global innovation platform, established in China in 2016 and headquartered in Beijing's Zhongguancun district. The company operates an open innovation ecosystem that connects three constituencies: large enterprises seeking startup-driven innovation, early-stage startups seeking acceleration and funding, and city/regional governments seeking innovation ecosystem development. Its service portfolio comprises four interlocking lines: (1) Corporate Innovation Services — multi-year open innovation partnerships through which enterprises access curated startup pipelines and co-run themed accelerator batches; (2) Accelerator Programs — twice-yearly 3-month cohorts across 10+ vertical themes including fintech, insurtech, mobility, health, supply chain, energy, IoT, brand & retail, real estate, and food/agtech; (3) Early-Stage Investment — Plug and Play's venture arm made 187 investments in 2023 and has backed over 2,000 startups globally since 2006, generating 30+ unicorns; (4) City Innovation Platforms and Co-working Space — physical innovation centers totaling over 34,000 sqm across Beijing, Shanghai, Shenzhen, Nanjing, Wuhan, and Wuxi, frequently established in partnership with municipal governments and SOEs.

Name

Plug and Play China

Legal name

Plug and Play China

Website

https://pnpchina.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Plug and Play China (璞跃中国) is a Beijing-headquartered innovation platform and accelerator, subsidiary of Silicon Valley's Plug and Play, that connects 100+ Chinese corporations, early-stage startups, and city governments through themed accelerators, early-stage venture investment, and physical innovation centers across six cities.

Ownership category

akta.pro rank

Product category

Startup Accelerator & Innovation Platform

NAICS

Computer Systems Design and Related Services (54151), Scientific Research and Development Services (5417)

SIC

Electronic Computers (3571), Services-Computer Programming Services (7371), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Industry-Specific Low-Code Platforms (Vertical App Platforms) (HDAEAKAL)

akta.pro secondary industries

Entrepreneurship, Innovation & Venture Creation Centers (EDAHAHAH), Technical Universities with Entrepreneurship & Incubation Focus (EDAHAEAH), Technology & Innovation Expos Organizers (THAHABAE)

Keywords

• Startup accelerator programs
• Corporate innovation services
• Venture capital investment
• Innovation ecosystem platform
• Open innovation consulting

Headquarters

HQ city

Haidian

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Corporate Innovation Partnership Fees: Large corporations pay fees to access the innovation platform, connect with startups, and participate in accelerator programs. Over 500 industry-leading corporations globally, including 100+ in China, partner with Plug and Play for innovation services.
2. Venture Capital Investment Returns: Plug and Play invests in early-stage startups through their ventures arm. In 2023, they made 187 early-stage investments. They have invested in over 2,000 startups since 2006, with 30+ unicorns generated globally.
3. Coworking Space Rental: Plug and Play China operates over 34,000 square meters of coworking space across Beijing, Shanghai, Shenzhen, Nanjing, Wuhan, and Wuxi for startups and innovation ecosystem participants.
4. Government/City Innovation Services: Plug and Play partners with city governments to establish innovation centers and promote in-depth industrial collaboration, providing innovation ecosystem development services.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Plug and Play China operates a global innovation platform that connects large corporations, startups, governments, and investors to drive technology entrepreneurship and open innovation. Its offerings span corporate innovation partnerships, industry-themed accelerator programs across 10+ verticals (fintech, insurtech, mobility, health, supply chain, energy, IoT, retail, real estate, food/agtech), early-stage venture capital investment, city/government innovation center development, and co-working innovation spaces across six Chinese cities.

Product overview

Plug and Play China operates as a global innovation ecosystem platform connecting corporations, startups, governments, and investors. The platform comprises multiple interconnected service offerings: Corporate Innovation Services help enterprises connect with startups for open innovation; Accelerator Programs provide themed 3-month bootcamps across 10+ industry verticals (fintech, insurtech, mobility, health, supply chain, energy, IoT, retail, real estate, food/agtech); Venture Capital conducts early-stage investments (187 deals in 2023); City Innovation builds regional innovation centers across 35+ cities; and Co-working Spaces provide physical offices in Beijing, Shanghai, Shenzhen, Nanjing, Wuhan, and Wuxi totaling 34,000+ sqm. The Global Tech Network (GTN) facilitates ongoing connection through regular events. The ecosystem has supported 2,000+ invested companies, 100,000+ startup projects reviewed, and 30+ unicorns generated globally.

Differentiator

Problem solved

Functional benefit

Brands

• 璞跃中国: Chinese brand name for Plug and Play China
• OPC

Products and services

• Corporate Innovation Services Open innovation platform service for enterprises that facilitates connections with startups, builds corporate innovation strategy, and supports open innovation culture. Designed for large industry-leading corporations seeking to source disruptive technologies and partner with growth-stage startups.
• Accelerator Programs Industry-themed 3-month accelerator bootcamps that select startups from thousands of global applications and match them with corporate partners for pilots, mentorship, and introductions to investors. Aimed at early-stage technology startups seeking acceleration, corporate customers, and funding.
• Venture Capital / Early-Stage Investment Direct early-stage investment into startups participating in Plug and Play's accelerator programs and broader ecosystem, often co-investing with top-tier venture capital firms such as Sequoia China. Investment activity is conducted through the ventures arm.
• City Innovation Platform Partnership service for city and regional governments to establish innovation centers, promote industrial collaboration, attract startups and investment, and develop local innovation ecosystems. Deployed in Beijing, Shanghai, Shenzhen, Nanjing, Wuhan, Wuxi, and other cities.
• Co-working Innovation Space Physical co-working and innovation office space providing flexible offices, meeting rooms, roadshow halls, and event facilities for startups and innovation ecosystem participants across six Chinese cities.
• Fintech Accelerator Industry-specific accelerator program focused on financial technology innovation, connecting fintech startups with major banks and financial institutions for pilots and partnerships.
• Mobility Accelerator Vertical accelerator for automotive and mobility innovation, connecting mobility startups with original equipment manufacturers, tier-one suppliers, and mobility ecosystem participants to shape the future of transportation.

Quantifiable outcome

• 187 early-stage investments made in 2023, with 2,000+ startups invested since 2006
• +2 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

26 partnerships are on record, tiered core.

• 佛吉亚集团 (Faurecia)coreStrategic or Co-development PartnerGlobal top-10 automotive supplier with operations in 35 countries, 266 industrial bases, and 39 R&D centers. Partnership focuses on mobility innovation and future cockpit technologies.
• 东风汽车集团有限公司coreStrategic or Co-development PartnerOne of China's four major automotive groups with operations spanning commercial vehicles, passenger vehicles, new energy vehicles, and military vehicles. Operating scale exceeds 4 million vehicles.
• 现代摩比斯 (Hyundai Mobis)coreStrategic or Co-development PartnerKorean automotive parts company specializing in autonomous driving, connectivity, and electrification. First globally to mass-produce hydrogen fuel cell components.
• 博世 (Bosch)coreStrategic or Co-development PartnerGlobal leading technology and services supplier operating in mobility, industrial technology, consumer goods, and energy sectors.
• 交通银行 (Bank of Communications)coreStrategic or Co-development PartnerOne of China's six major banks with history dating back to 1908. Offers commercial banking services including credit cards, loans, and international settlements.
• 南京银行coreStrategic or Co-development PartnerJoint-stock commercial bank established in 1996 with RMB 1.7 trillion in assets as of September 2021. Operates 17 branches with 215 business outlets across China.
• 浦发银行 (SPD Bank)coreStrategic or Co-development PartnerNational joint-stock commercial bank established in 1993. Ranked 15th globally in banking brands by The Banker magazine in 2021.
• VisacoreStrategic or Co-development PartnerGlobal payments technology company connecting consumers, businesses, merchants, and government entities in more than 200 countries and territories.
• 德意志银行 (Deutsche Bank)coreStrategic or Co-development PartnerGlobal leading bank with operations in 70 countries serving corporate, institutional, and individual clients.
• 中国建设银行 (CCB)coreStrategic or Co-development PartnerOne of China's four large state-owned commercial banks with extensive domestic and international branch network.
• 慕尼黑再保险 (Munich Re)coreStrategic or Co-development PartnerWorld's largest reinsurer providing property and casualty reinsurance and insurance services globally.
• 瑞士再保险集团 (Swiss Re)coreStrategic or Co-development PartnerLeading reinsurance and risk transfer provider operating globally with both direct and broker-mediated business.
• 中国人保 (PICC)coreStrategic or Co-development PartnerChina's largest property and casualty insurance issuer, operating through subsidiaries including PICC Asset Management and PICC Property and Casualty.
• 巴斯夫集团 (BASF)coreStrategic or Co-development PartnerWorld's leading chemical company with approximately 115,000 employees serving customers in almost all industries in nearly all countries. Sales of EUR 64.5 billion in 2017.
• 欧莱雅 (L'Oreal)coreStrategic or Co-development PartnerGlobal number one cosmetics group with 88,000+ employees and 36 brands sold in 150+ countries. Sales exceeded EUR 29.9 billion in 2019.
• 强生 (Johnson & Johnson)coreStrategic or Co-development PartnerGlobal healthcare company operating in pharmaceuticals, medical devices, and consumer healthcare sectors.
• 普洛斯 (GLP)coreStrategic or Co-development PartnerGlobal leading investment manager and industrial operator in supply chain, big data, and new energy infrastructure. Manages assets exceeding USD 120 billion.
• 沃尔玛中国 (Walmart China)coreStrategic or Co-development PartnerOperates hundreds of stores across 100+ Chinese cities including Walmart hypermarkets and Sam's Club. Committed to long-term investment and development in China.
• 玛氏 (Mars)coreStrategic or Co-development PartnerGlobal confectionery, food, and pet care products company operating in approximately 180 countries.
• 百事集团 (PepsiCo)coreStrategic or Co-development PartnerLeading food and beverage company with brands including Pepsi-Cola, Quaker, Gatorade, and Frito-Lay. Produces 3,000+ products sold in 200+ countries.
• 雅诗兰黛集团 (Estee Lauder)coreStrategic or Co-development PartnerWorld-leading manufacturer and marketer of skincare, cosmetics, fragrance, and haircare products sold in approximately 150 countries.
• 宝马集团 (BMW)coreStrategic or Co-development PartnerPremium automotive manufacturer producing BMW, MINI, and Rolls-Royce vehicles with global production network.
• 戴姆勒 (Daimler)coreStrategic or Co-development PartnerGlobal automotive corporation producing Mercedes-Benz vehicles and other automotive brands.
• 开云集团 (Kering)coreStrategic or Co-development PartnerFrench luxury goods conglomerate managing Gucci, Saint Laurent, Bottega Veneta, Balenciaga, and other luxury brands. Revenue of EUR 13.1 billion in 2020.
• 费列罗集团 (Ferrero)coreStrategic or Co-development PartnerFamily-owned chocolate and confectionery company founded in 1946, operating in 55 countries and distributing products in 170+ countries.
• Plug and Play Global EcosystemcoreStrategic or Co-development PartnerGlobal innovation platform with 60+ offices across Americas, EMEA, and Asia-Pacific, enabling cross-border innovation and investment flows between Silicon Valley, Europe, China, and other markets.

Scale indicators10 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Techstars: One of the largest global accelerator networks operating thematic accelerator programs worldwide. Direct competitor for both corporate innovation partnerships and startup acceleration deals across multiple verticals, with a comparable mentorship-driven, equity-based model.
• MassChallenge: Global non-equity accelerator running programs across multiple verticals and geographies including partnerships in China. Competes for both startup deal flow and corporate partnership revenue, with a more non-profit oriented model.
• Y Combinator: Premier global startup accelerator with the largest portfolio by company count and valuation. Direct competitor for top-tier startup deal flow and increasingly competing for corporate partnership revenue through YC Continuity and partnerships.
• Chinaccelerator (MOX): China-focused accelerator backed by SOSV, running programs for cross-border startups between China and global markets. Direct competitor for corporate-startup matching services in the China market specifically.
• SOSV: Global accelerator and venture fund running vertical-specific accelerator programs (HAX for hardware, IndieBio for biotech, etc.). Highly comparable model to Plug and Play with thematic vertical specialization and strong global footprint including significant China operations.
• Innovation Works (创新工场): Leading Chinese venture capital and startup incubation platform founded by Kai-Fu Lee. Provides the most direct domestic Chinese comparison, offering accelerator programs, early-stage VC, and corporate innovation services primarily to Chinese startups and enterprises.
• 500 Global (formerly 500 Startups): Global venture firm and accelerator with programs across multiple regions including APAC. Competes directly for corporate partnership fees and startup deal flow with comparable equity-based accelerator model.

Regional players

• Legend Star (联想之星): Chinese early-stage investment and accelerator arm of Lenovo Group. Direct competitor in China for tech startup acceleration and corporate innovation services, with strong backing from a major Chinese tech conglomerate.

Emerging players

• Founders Factory: Global accelerator and venture builder partnering with major corporates (Coca-Cola, Aviva, etc.) to run vertical-specific innovation programs. Direct competitor in the corporate innovation partnership space with a similar vertical-specialization strategy.

Broad incumbents

• Station F: World's largest startup campus based in Paris, offering accelerator programs, corporate partnerships, and co-working space. Comparable in scale and breadth of services but primarily serves European startups and corporates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/plug-and-play-china

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Plug and Play China