AUBURN HILLS, Mich.,
Sept. 3, 2020 /PRNewswire/
-- BorgWarner announced its next venture with Plug and Play, a
global innovation platform and accelerator ecosystem for
startup companies, by becoming a partner of its newly planned
incubator location in Detroit.
Developed through a collaboration between Plug and Play and the
Michigan Minority Supplier Development Council (MMSDC), Plug and
Play Detroit will supply many startup companies with resources,
guidance and financing through its global innovation platform in an
effort to achieve technical advancements faster than ever before.
Joining forces with Plug and Play in Detroit – in addition to its existing
cooperation with Plug and Play in Silicon Valley – directly
connects BorgWarner to a host of smart, innovative future
collaborators.
![Plug and Play Detroit will supply many startup companies with resources, guidance and financing through its global innovation platform in an effort to achieve technical advancements faster than ever before Plug and Play Detroit will supply many startup companies with resources, guidance and financing through its global innovation platform in an effort to achieve technical advancements faster than ever before](https://mma.prnewswire.com/media/1248306/Plug_and_Play.jpg)
"The Plug and Play model provides extraordinary access to bright
innovators and a wide range of new, inventive ideas in the
automotive and tech sector," said Frédéric Lissalde, BorgWarner
President and CEO. "We keep a constant pulse on the industry to
strategically pursue what's next, and establishing and investing in
partnerships is one way we fuel the technology pipeline of
tomorrow."
Plug and Play matches exceptional startup companies with
relevant companies and investors for three-month programs.
Thousands of companies compete to earn a spot in Plug and Play's
accelerator programs each year and approximately 20 startups are
accepted per location. The Michigan Minority Supplier Development
Council (MMSDC) initiative, AmplifyD, will run similarly, but with
an emphasis on women and minority entrepreneurs. This focus aligns
with BorgWarner's drive to cultivate a culture of diversity,
excellence, collaboration and integrity.
"Strong industry partners like BorgWarner have been instrumental
in helping Plug and Play to achieve its position as the world's
largest innovation platform. Their continued support and commitment
to open innovation serves as an example for many, and we are proud
to have them as a founding partner in Detroit," said Saeed
Amidi, Founder and CEO of Plug and Play. "We look forward to
investing in the best nascent mobility technologies together."
BorgWarner first joined Plug and Play in Silicon Valley in fall
2018.
About Plug and Play
Plug and Play is a global
innovation platform. Headquartered in Silicon Valley, they have
built accelerator programs, corporate innovation services and an
in-house VC to make technological advancement progress faster than
ever before. Since inception in 2006, their programs have expanded
worldwide to include a presence in over 25 locations globally
giving startups the necessary resources to succeed in Silicon
Valley and beyond. With over 10,000 startups and 300 official
corporate partners, they have created the ultimate startup
ecosystem in many industries. Companies in our community have
raised over $7 billion in funding,
with successful portfolio exits including Danger, Rappi, Dropbox,
Lending Club and PayPal. For more information, visit
https://plugandplaytechcenter.com.
About MMSDC
The Michigan Minority Supplier Development
Council (MMSDC) is a non-profit, 501(c)3 organization committed to
driving economic growth within minority communities. Founded in
1977, the MMSDC certifies minority businesses, develops their
capacity and facilitates inclusive procurement opportunities. For
more information, visit www.minoritysupplier.org.
About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a
global product leader in clean and efficient technology solutions
for combustion, hybrid and electric vehicles. With manufacturing
and technical facilities in 67 locations in 19 countries, the
company employs approximately 29,000 worldwide. For more
information, please visit borgwarner.com.
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SOURCE BorgWarner