Having started out initially as a family business and ironically, not related to technology at all, Plug and Play has grown to be a platform that connects technology-centric start-ups to some of the largest corporations around the world.
Shawn tells us how the business model has evolved over time, beginning from simply renting out office and building space to small start-ups. He shares with us that some of these start-ups ended up becoming some of the biggest technology companies we can’t live without in our daily lives now; and decades ago, Plug and Play saw the opportunity in helping these budding companies by providing them with connections and space in return for equity instead of rent.
Shawn also shares with us how, since then, Plug and Play has grown from its humble roots in Silicon Valley, out to booming economies such as Singapore, Japan, and China. And with its most recent expansion to Thailand, Shawn believes that there can be no replacement for the genuine connections, be it just a simple handshake or face-to-face meeting, by remote communications. And through this expansion, Plug and Play looks to partner with even more corporates and reach deeper into the Thai start-up ecosystem.
One of the key issues Shawn sees with Thai start-ups is their limited exposure to the world outside their own country. He sees the passion and ability of the start-ups in developing solutions for the Thai market and believes some of these solutions would be highly sought after in overseas markets. However, Shawn realises that there is not a strong platform to showcase these developments and solutions built in Thailand to the rest of the world.
This episode’s audio was expertly edited and this episode’s summary was written by Yong Yun Jing.