Plug and Play is a startup support organization based in Sunnyvale, Silicon Valley.
It has an accelerator aspect to nurture startups and an investor aspect to invest in startups. It runs more than 50 accelerator programs each year and connects startups with investors and companies by organizing numerous pitch events where startups can showcase their business models in minutes.
Since its founding in 2006, Plug and Play has supported more than 2,000 startups, with successful exit stories such as Dropbox and Paypal.
Today, the organization supports innovation in more than 30 locations in 14 countries around the world, including Japan.
Since August 2017, MS&AD Holdings has been a member of the "Insurtech" program, one of Plug and Play's accelerator programs, and is seeking opportunities for collaboration with startups while keeping up with the latest Insurtech information.
Plug and Play has more than 250 up-and-coming startups and several large Japanese companies in its offices, making it an open environment where one can easily interact with startups. Another feature is that one can see communication within the industry, which is rarely seen in Japan, and lively exchanges of opinions across industry boundaries.
In August 2019, a joint event "Japan Night" was held by Japanese insurance companies based in Silicon Valley to promote the appeal of the Japanese market, the second largest in the world, to startups mainly based in the United States.
MS&AD Holdings also operates the MS&AD Garage Program, which makes full use of Silicon Valley resources such as Plug and Play to gain experience in Silicon Valley's unique business practices and innovations.
Program participants are encouraged to take on challenges with new ideas and find solutions to the pain points of their operations.
< Japanese Insurance Companies’ Joint Event "Japan Night" >