Spotlight On: Saeed Amidi, CEO & Founder, Plug and Play
October 2024 — We are joined by Saeed Amidi, CEO and Founder of Plug and Play, to discuss how the organization has supported countless startups and created a bridge to Silicon Valley that encourages entrepreneurial growth in Orlando. “One of our most recent successes has been the startup Platform Science, which has partnered with Walmart to enhance their supply chain and fleet of 13,000 vehicles,” he said.
What are your takeaways from the past year?
I’m super excited because I didn’t initially realize what an economic powerhouse Florida is, especially in Orlando. The University of Central Florida was so welcoming that it prompted me to open a location here. It is one of the most beautiful campuses I’ve ever seen and the quality of the students and education is exceptional. With the university’s 70,000-plus student population, we should be able to initiate over 100 startups.
What is the value that Plug and Play brings to the Orlando economy?
The faculty and unique academic programs, ranging from hospitality to aerospace, represent industries that we can bring excitement to and showcase successful technology startups and a weekly speaker series. I also want venture capitalists to join in these opportunities. For investors with big ambitions, one-third of the population in Florida lives there year-round, while the other two-thirds either have a second home here or are retired. We’re targeting about 100 residents who are retired and have built very large companies that could serve as executives in residence to help our startups with their depth of experience. It would also represent a co-investment opportunity for these retired executives who are often looking for something new to do.
How does Plug and Play create opportunities for burgeoning entrepreneurs?
We have a Startup Camp, which provides entrepreneurs the opportunity to get started while helping them register their companies. We also help them raise additional seed money, which is a catalyst for them to build their dream. Once the startup has grown, we help the later-stage companies with product-market fit and finding additional clients. We are happy to help startups at different stages with different things. One of our most recent successes has been the startup Platform Science, which has partnered with Walmart to enhance their supply chain and fleet of 13,000 vehicles.
What are your key business verticals?
Our first vertical launch is a smart city that includes mobility. It’s something we want to get Orlando International Airport involved with to reduce their carbon footprint. And since Florida has so much highway mileage, we want to prioritize electric vehicles for both cars and tractor trailers. A second vertical is in travel and hospitality. With 70 million people visiting Orlando annually, I think there’s a lot we can improve on.
What are the challenges facing entrepreneurs today?
They can raise angel funding up to $1 million, but the biggest challenge is when startups need tens of millions of dollars. We host a bi-annual event called Summit, featuring 300 startups presenting to 1,000 venture capitalists and corporations. We’ll bring in five Orlando startups to the event this year, so we can build a bridge between Silicon Valley and Orlando. This encourages startups to stay here with their core team and stay connected across the community for funding and business development.
What is your advice to young professionals looking into entrepreneurship?
With all of the tools available right now, you can become an expert in what you’re doing in 90 days. You have to be the most knowledgeable person in the room about the business you want to build. You should be the best engineer involved, or have the best team members who can build the best product. The most successful entrepreneurs I’ve encountered are those who address problems they personally faced and that others also need solutions for. My advice is to solve something big that would change the world for the better.
What are your priorities going forward?
For my model to work, it requires corporate partners who are ready and able to test our products. I’m looking more at the healthcare and insurance industries specifically to embrace these innovation platforms. That will always require engagement. I’ve been visiting different college campuses and based on the opportunities, in my first phase moving forward, I’d like to see Florida initiate 500 startups per year and invest in 50 of them directly from Plug and Play. I also welcome more co-investment and we need to grow the venture capital base in Orlando. I hope to energize VCs like Sequoia, Draper, and Norwest to look at Florida through a different lens.
Click here to learn more about our upcoming Invest: Greater Orlando Launch Conference on Nov. 7.
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