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PHOENIX, Ariz. – March 26, 2018 - ON Semiconductor (Nasdaq: ON), driving energy efficient innovations, announced their participation in the startup ecosystem of Silicon Valley-based Plug and Play, the world's largest global innovation platform. They join Plug and Play’s Mobility and Internet of Things (IoT) platforms, further showcasing their commitment towards advancing the widespread deployment of solutions in the automotive and industrial spheres.
“Customers are increasingly relying on us for key enabling technologies which are disrupting existing business models,” said Mamoon Rashid, senior vice president of strategic business ventures at ON Semiconductor. “We must innovate faster by incorporating a strategy of internal and external technology development. Partnering with innovation accelerators such as Plug and Play provides us a way to efficiently evaluate and consult new technologies and integrate them earlier into the ON Semiconductor portfolio.”
As a top 10 global semiconductor supplier to the automotive industry, ON Semiconductor brings over two decades of experience delivering innovative, automotive grade semiconductor solutions addressing key vehicle electronics systems to the Plug and Play ecosystem. The company’s node-to-cloud environment for the IoT solves customer challenges in prototyping, trials and systems deployment and focus on value-added application and services. These advances have poised the company as a key partner in enabling ADAS, electric vehicles, factory automation, machine vision, and industrial power management.
The strategic focus of ON Semiconductor automotive and IoT solutions matched with the innovative solutions from startups in Plug and Play’s portfolio sets the company up to take advantage of fast moving industry megatrends.
“Being able to connect startups with corporations that can validate their technology in the market is a game changer,” said Sobhan Khani, vice president of Plug and Play’s IoT and Mobility programs. “ON Semiconductor’s participation in both our Mobility and IoT platform is hugely beneficial to the startups in our ecosystem. We are excited to have them join our ecosystem to move towards a more technologically advanced future.”
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in 28 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com.