Productivity Headquarters and Silicon Valley's 'Plug and Play' Collaborate to Jointly Foster Startups

Chairman Noh Kyuseong Appointed as Advisor to Plug and Play

Noh Gyu-seong, Chairman of the Korea Productivity Center (right), and Said Amidi, CEO of Plug and Play (left), are posing for a commemorative photo after signing a business agreement related to the 'University Program'.

[Asia Economy Reporter Kim Cheolhyun] The Korea Productivity Center announced on the 13th that it has signed a business contract related to a university program with Plug and Play, the largest incubating institution in Silicon Valley. Through this contract, Kyuseong Noh, Chairman of the Korea Productivity Center, will serve as an advisor for the Plug and Play university program.

Last year, Chairman Noh visited Purdue University and Silicon Valley venture capital firms (VCs) to discuss cooperation plans for building a global startup ecosystem with the United States, and signed a letter of intent for cooperation related to global startup development with Plug and Play. As a follow-up to this, a joint operation contract for the Plug and Play university program was signed this time.

Plug and Play is an innovation platform that supports early-stage startups and is one of the three major startup support institutions in Silicon Valley, having produced seven unicorn companies including PayPal. It supports about 6,000 startups annually and operates 15 industry-specialized programs. A key strength of Plug and Play is its ability to help startups enter the U.S. market. There are more than 3,000 partner companies in the U.S. alone for this purpose.

The 'university program' jointly operated by the Korea Productivity Center and Plug and Play serves as a bridge between university campuses, Silicon Valley, and various global corporate networks. It is expected to create tangible startup outcomes by connecting university talents rich in entrepreneurial ideas with large corporations and venture investors, supporting internships, mentoring, pilot program production, and investment linkage. Additionally, Chairman Noh will serve as an advisor for the Plug and Play university program, playing a role in establishing Plug and Play’s Korean branch, setting the direction and roadmap for the university program, and expanding the ecosystem as a bridge between domestic and international companies and universities.

Plug and Play CEO Side Amidi said, "We hope that Korean university students will learn about the latest technology trends and corporate culture in Silicon Valley and that the abundant investment network will increase opportunities for startups to succeed in both the U.S. and Korea" Chairman Noh said, "To enhance our country's future productivity, we must focus on discovering and nurturing promising startups. The Korea Productivity Center is actively promoting the establishment of a global startup ecosystem, achieving results by forming cooperative relationships with universities and institutions in countries including Asia, the Middle East, Europe, and the U.S. Through the successful operation of the Plug and Play university program conducted with five leading domestic universities, we will strive to expand the global startup ecosystem."