Accelerator and VC Plug and Play Opens Location in Downtown LA

Caitlin Cook
Caitlin Cook is an editorial intern at dot.LA, currently earning her master's degree in mass communication from California State University, Northridge. A devoted multimedia journalist with an interest in both tech and entertainment, Cook also works as a reporter and production assistant for MUSE TV. She got her Bachelor of Fine Arts in Filmmaking from University of North Carolina School of the Arts.
Accelerator and VC Plug and Play Opens Location in Downtown LA

Silicon Valley-based Plug and Play is coming to downtown L.A.

The organization, known for its accelerator programs and status as a VC firm, held an event announcing the news on Tuesday at 1010 Wilshire Blvd, where its newest cohort will be based.


Plug and Play aims to match local startups up with corporations that can help them develop. It has already invested in several L.A.-based startups, including browser extension coupon service Honey and real estate marketing startup Zentap.

The organization plans to devote 100 units in the building to startups involved in the program as well as to invest in more L.A.-based companies. Ten startups that are accepted to the program will receive six months free rent.

"We want to bring startups here, we want to bring corporates here, and we want to make everybody work together and we want to see relationships flourish," Plug and Play Senior Associate Tanya Ma said in an interview before the event. "That's kind of the ultimate goal of this project."

A consortium of civic and business groups that includes the Downtown Center Business Improvement District (DCBID), the Los Angeles Area Chamber of Commerce and the Alliance for SoCal Innovation say they'll aid the project through things like research, technical assistance and connecting local startups with Plug and Play.

The partnership has been a long time coming, said the DCBID's Executive Director Nick Griffin.

"[This project is] almost like formalizing what was already happening," he said. "There's already a great deal of innovation and collaboration and cross pollination going on in the downtown ecosystem."

Downtown L.A. has the resources to be one of the region's largest startup ecosystems, according to a report by the Alliance for SoCal Innovation, but very little recognition. Upon making this realization in 2018, the Alliance began working with other organizations such as the DCBID on a plan to create housing, office spaces and leisure activities in the same areas, often in the same buildings.

Their work, according to Alliance's Director of Ecosystem Development Eric Eide, helped lure Plug and Play downtown, in part because the company's holding company already owns a series of live-work developments throughout Southern California, including the one at 1010 Wilshire.

"And here we are, connecting the dots," said Eide. "This smaller group really has a lot of the firepower to make this a reality."

Plug and Play has launched similar projects in cities like Topeka, Kansas and Munich, Germany.

Subscribe to our newsletter to catch every headline.

Cadence

Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Regard Raises $15M for AI-Powered Software That Help Doctors Diagnose Patients
Courtesy of Regard

Culver City-based health care startup Regard, which uses AI-driven software to help physicians accurately diagnose patients, has raised $15.3 million in Series A funding.

Pasadena-based Calibrate Ventures and Colorado-based Foundry Group led the investment in Regard, formerly known as HealthTensor. Other investors that participated in the round include TenOneTen Ventures, Susa Ventures, Brook Byers of Byers Capital and Dropbox CEO Drew Houston. The new funding will be used to grow Regard’s team and customer base, the company said in a press release.

Read moreShow less

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund
Image by Joshua Letona

This week in “Raises”: A local healthcare startup secured funding to help grow the team and deploy its software to more physicians and hospitals, while Black-led, seed-stage venture capital firm surpassed its goal for its second fund.

Read moreShow less

How Braid Theory Plans to Build the Blue Economy from the Port of LA

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

How Braid Theory Plans to Build the Blue Economy from the Port of LA
Photo courtesy of the Port of Los Angeles.

San Pedro-based Braid Theory is one of the growing number of accelerators in the country looking to grow the so-called blue economy, which spans a range of ocean-related industries and is estimated at $2.5 trillion a year.

The accelerator is accepting online applications until July 18, with its second-ever program kicking off in August.

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending