Saeed Amidi
The billionaire who built Plug and Play, a global platform that backs startups and connects them with large corporations.
- Industry
- Venture capital (Plug and Play); real estate
- Country
- United States
- Format
- Video interview
- Interviewer
- Richard C. Wilson
- Source
- Billionaires.com interview
Watch the Interview
About Saeed Amidi
Saeed Amidi is a billionaire who built Plug and Play. He has spent more than forty years building businesses in real estate and bottled water. He also built a large packaging business. Technology came later, through Plug and Play. His family bought a building at 165 University Avenue in Palo Alto, a block from Stanford. They rented the extra office space to startups. Google and PayPal had offices there in their early days. Logitech opened its first US office there. The building became known as the "Lucky Building." Saeed and his partners began writing angel checks to the startups down the hall. That hobby became Plug and Play, based in Sunnyvale. Today it has more than 60 offices worldwide and a portfolio of more than 2,500 startups. More than 40 of them have become unicorns. Dropbox and Guardant Health are among them. Over 550 corporations partner with the firm. Plug and Play is family owned. His daughter Sanam is in charge of marketing and technology. She also leads AI implementation.
What They Shared in the Interview
In Their Words
“But for me, the biggest element of success is hard work. I think hard work trumps everything else.”
“I always ask the entrepreneur, if this doesn't work, what are you going to do? What is your plan B?”
“But you have to have domain knowledge, focus and execution. AI just helps you scale.”
“But I always tell them, you have to do 99% of the work. Plug and Play will do that 1%, either help you raise money or help you do a proof of concept with Mercedes or with Walmart.”
“I'm passionate about what I do, and my purpose in life is to make an impact in the life of the entrepreneur, and to solve some of the big problems in the world in healthcare, mobility and robotics.”
FAQs
What did Saeed Amidi build?
He built Plug and Play, which backs startups and partners with more than 550 corporations. His family office is involved in real estate. He also owns a bottled water business and a large packaging business.
How did Plug and Play begin?
It began as a hobby. He made angel investments in startups that rented space in his family's Palo Alto building. When a $100,000 investment in Dropbox returned $36 million, he decided his hobby might be better than his main business.
How does Plug and Play work with corporations?
It helps corporate partners find startups that can solve their problems. With Mercedes alone it has run 154 pilots. It also does ten projects a year with Walmart.
