Startup Accelerator Plug and Play Presented Itself in the Region Under ZRIA’s Patronage

Around fifty representatives of companies, innovation organisations, academia, and the public sector gathered for a presentation by the American startup accelerator Plug and Play, which provides venture capital to early-stage and innovative companies with high growth potential and connects them with investors and corporations worldwide. The event was organised by the regional development agency ZRIA and was made possible in part by the Zlín Region’s connections in Texas. Representatives of the accelerator were thus able to share their experience in providing venture capital, connecting companies, and creating new opportunities.

“The Zlín Region has a very successful entrepreneurial story behind it — the Baťa brand, which is essentially the first Czech ‘unicorn’. The impact of this company is still very noticeable in the region and is truly exceptional even by global standards. I believe the time has now come to create an ecosystem here that will enable the emergence of the next Baťa,” said Povilas Žinys, Plug and Play’s Director for the Baltic States. Company partner Carolin Wais stated in her presentation that the firm wants to be the most influential and recognised accelerator in the Czech Republic and beyond, connecting all ecosystem players with the aim of bringing innovation and entrepreneurship. It also wants to be a global player that leverages the partnership and long-term cooperation between Texas and the Zlín Region.

“Even at this event we can see that regional activities in Texas have a yielding tangible, high-value dimensions, and connecting the business scene there with the local one can bring a range of opportunities and development to both sides. That is what we have long been striving for — to connect our region with the world and make it attractive,” said Deputy Governor David Vychytil, who attended the event.

Representatives of regional companies were thus able to obtain initial information, contacts, and guidance on how to access support and investment capital, and also used the event to share their own experience of building the local innovation scene.

“Events like this are very important for us, as they reveal a new dimension and opportunities that can genuinely help us. I want to thank not only the representatives of Plug and Play but also the Zlín Region for their support in this matter. Experienced players with capital can take our startup and innovative companies to levels we may not even have dared to consider. ZRIA’s goal is to actively connect the region with global innovation ecosystems and support the emergence of new startup projects with international potential,” said Petr Kubíček, Director of Strategic Development at ZRIA.

Plug and Play, originally from Silicon Valley, now has more than 550 corporate partners (including Intel, Red Bull, P&G, and L’Oréal) and a presence in more than 50 locations across Europe, America, and Asia. Venture capital is primarily intended to finance innovative projects and disruptive innovation and early-stage scaling of young, high-potential startups, which is also why it is riskier than other conservative forms of fund investment.