Plug and Play presenter Kevin says innovation pipeline is growing and announces new $50 million manufacturing fund to be managed from Cedar Park

Kevin, presenting on behalf of the Plug and Play innovation program, outlined the group’s startup batches, international outreach and corporate connections and said the program has helped introduce multiple startups to Cedar Park.

"Plug and Play is the number 2 most active venture capital firm globally... and we are the world's largest innovation platform," Kevin said, describing the program’s batches and expos. He said the program’s recent outreach produced several prospective relocations and corporate introductions and highlighted success stories and corporate partnerships.

Kevin told the board his organization is launching a new manufacturing investment vehicle to be managed from Cedar Park. "We're announcing in January the launch of our new investment manufacturing fund, fund 2 — that's gonna be a $50,000,000 fund — and that's gonna be operated and managed right here from Cedar Park," he said. He also described signing a two-year lease for a roughly 2,280-square-foot office and the semiconductor focus of the program’s next batch.

Board members asked about real-estate constraints and office/flex-space supply; presenters said demand commonly falls in the 11–30 acre range for sites and 1,000–25,000 square feet for many building needs, with growing requests for larger industrial footprints. Kevin said the program’s global corporate partners and investor engagement are intended to accelerate startup growth and relocation prospects to the area.