Global innovation platform Plug and Play has launched a fintech startup accelerator program that will operate in both Frisco and McKinney, following up on its late-2023 office openings in the two North Texas cities, where other accelerators are already in the works.
Plug and Play said that in partnership with the Frisco Economic Development Corp. and the McKinney Economic Development Corp., it aims to create a collaborative ecosystem for fintech innovation in the North Texas region via this new program.
“We believe that fintech innovation is crucial in today’s rapidly changing digital landscape,” Saeed Amidi, founder and CEO of Plug and Play, said in a statement. “By launching our fintech program in both Frisco and McKinney, we are committed to fueling growth and adding value to the local economy of the North Texas region.”
Plug and Play said that it’s dedicated to connecting startups, investors, governments, corporations, and universities to drive innovation and foster collaboration.
This new program will offer startups the opportunity to work closely with mentors, access corporate partners, and participate in industry-specific events and workshops, Plug and Play said. Also, Plug and Play’s global network of over 50 locations will provide startups with international exposure and valuable connections.
Plug and Play said that the Collin County cities of Frisco and McKinney have emerged as “vibrant hubs for technological advancements and entrepreneurial activities.”
In late 2023, Plug and Play announced its presence in both cities, launching a Sportstech program in Frisco and an Enterprise & AI program in McKinney. You can read more about those accelerators—and the organization’s plans for North Texas—in our December story.
Drawing fintech startups to Frisco and McKinney
By introducing the fintech program spanning across both locations, Plug and Play said it intends to provide a platform for local entrepreneurs to connect with industry experts, receive guidance, and secure investment opportunities.
Plug and Play said it has more than 10 additional locations that are focused on fintech, including Paris, Abu Dhabi, Singapore, Tokyo, and others.
“Our partnership with McKinney and Plug and Play will compliment Frisco’s position as a major asset to the region’s strong financial services industry and catalyze our vibrant ecosystem of 165 plus fintech companies and more than 133 fintech investors in Frisco,” Jason Ford, president, Frisco Economic Development Corp., said in a statement. “The North Texas Fintech accelerator will support local job growth and fuel recognition of Frisco as a global fintech hub for continued investment from Fortune 500 financial services firms, like Comerica Bank’s Business and Innovation Hub and FIS Global’s $777 million acquisition of Payrix, a Frisco-based Fintech platform.”
Michael Kowski, president and CEO of the McKinney Economic Development Corp., said the partnership bolsters the region.
“It’s an honor to lock arms with our neighbors in Frisco in bringing the Fintech vertical of Plug and Play to Collin County and into our communities,” Kowski said. “Our partnership will serve to strengthen our region’s startup ecosystem, resulting in wins that will accelerate our growing position as an international hub for tech talent and innovation.”
Plug and Play noted that with the fintech industry growing rapidly across the globe, attracting and supporting fintech startups in Frisco and McKinney will position the cities to become key players in this disruptive industry.
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