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Plug and Play Forays into Southern California with TENTEN Wilshire

July 28, 2009

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LOS ANGELES (RPRN) 07/28/09 — Hollywood studios gain local high-tech partner; LA-based startups access to business accelerator that rivals its Silicon Valley predecessor

Plug and Play Tech Center, the leading Silicon Valley startup incubator, to launch its Los Angeles counterpart —TENTEN Wilshire on Wednesday, July 29 at 5:30 PM. The Launch Party, co-hosted by Sun, Microsoft, Twiistup, Mintz Levin, OTOY, VIVU, and Latham & Watkins will kick off at the TENTEN Wilshire Center (1010 Wilshire Blvd., Los Angeles) will be attended by leading digital-entertainment innovators and entrepreneurs, investors,

lawyers, bankers, and other leading players behind Plug and Play Tech Center.

Inspired by the rise of online entertainment, the new Center will bridge the gap between Hollywood’s top players and the technology firms that could optimize their digital transition, according to Plug and Play CEO Saeed Amidi.

“Entertainment is transforming to an all-digital, Internet-based experience with personalized channels such as MySpace, YouTube, and Facebook. Connecting innovative startups to venture capital funding and corporate partners is essential to close the divide between content and technology,” Amidi said.

Amidi is widely considered an Internet startup expert with a talent for honing in on the next big thing. In previous years, he rented space to a then little-known startup: Google.
“Techies provide personalized media to consumers, but haven’t always been able to connect with content owners. We are providing that connection to the studio heads with our new accelerator facilities,” according to Plug and Play’s Project Manager, Ben Flor. “And investors will have a one-stop shopping place.”

Plug and Play Tech Center, in Northern California, currently houses 250 companies with over $2 billion in exits and acquisitions. Since its official founding in 2006, Plug and Play has helped hundreds of companies raise more than $700 million within its walls. In 2008, for example, Microsoft bought startup Danger, an innovative mobile communication platform, for over $500 million.

With the opening of TENTEN Wilshire, LA-based startups will have intimate access to the high-tech network and corporate and venture capital cash that their Silicon Valley counterparts have long enjoyed.

Like Plug and Play’s Northern California locations, TENTEN Wilshire will be a hub for startups to collaborate, network, meet such potential corporate partners as Best Buy and Microsoft, and, ultimately, build relationships with top investors. Studios, networks and labels looking to profit from increased online presence can take advantage of and benefit from our team web experts, entrepreneurs, and investors, all housed by the Center.

In addition to TENTEN Wilshire, Southern California now has two additional Plug and Play Tech Centers located within Hollywood Production Centers I &II in Hollywood and Glendale.

About Plug and Play Tech Center
Founded in 2006, Plug and Play Tech Center is the leading startup accelerator in the Silicon Valley. More than 250 startups have raised capital in excess of $700 million after partnering with Plug and Play incubators, which connect entrepreneurs, leading venture capitalists (NVP, Sequoia, KPCB, MD, etc.), and corporate partners (Sun, Cisco, Ebay, Nokia, Best Buy, Google, Yahoo!, etc.). The unique collaborative community also includes universities such as Cornell, MIT, Harvard and Stanford. More than $2 billion in value has been created through exits and acquisitions. More than 800 technology jobs have been fostered, a number projected to reach 6,000 in the next three years with Plug and Play’s latest expansions. Northern California locations include Sunnyvale, Redwood City, and Palo Alto with a total of 177,000 square feet. The newest locations are in Los Angeles, Hollywood, and Glendale with a total of 465,000 square feet.
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Source: Plug and Play Tech Center

Press passes available upon request, please contact:
Ben Flor, Plug and Play Tech Center, 608.213.4599, ben@plugandplaytechcenter.com
Where: TENTEN Wilshire, 1010 Wilshire Blvd., Los Angeles
When: July 29, at 5:30 PM
URL: www.plugandplaytechcenter.com

Contact: Ben Flor
Plug and Play Tech Center
608.213.4599
ben@plugandplaytechcenter.com

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