Alliance Ventures, a strategic venture capital company that invests for some of the largest corporations in the world has teamed up with Plug and Play China to nurture innovation in an economy second only to the US. Alliance Ventures, that invests for global enterprises, such as Groupe Renault, Nissan Motor Company and Mitsubishi Motors will be in a three year agreement with Plug and Play China. Both the companies are certain that the collaboration will, other than benefitting one another, also assist in harnessing emerging start-ups that develop disruptive technologies. This is Alliance’s third collaboration with Plug and Play (China) preceded by Plug and Play Japan &Plug and Play U.S.
“China is leading innovation in the automotive industry,” said Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation; Chairman of Alliance Ventures. “By harnessing the expertise of Plug and Play China, we can gain access to start-ups and technologies that will transform the mobility experience.”
By leveraging Plug and Play’s peerless network, Alliance ventures will be able to identify, work with start-ups, assess their value and subsequently either invest or acquire companies in China. Automobile makers, like the ones mentioned atop, will benefit as Alliance propels innovation in the largest car market in the world. The alliance will access Plug and Play’s worldwide start-up ecosystem via the latter’s accelerator program that happens twice in a year.
“We are delighted to partner with the world’s number one automotive alliance and bring the scale of their platform to our members. Alliance Ventures recognized the efficiency of our mobility innovation platform and together we will look for opportunities to transform the mobility experience for people in China and around the world”, concluded Peter Xu, Managing Partner and Chief Executive Officer of Plug and Play China.
Previously Alliance had invested in PowerShare, a company that builds charging solutions for Electric vehicles, based in China. PowerShare was a part of Plug and Play’s mobility accelerator program.
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