E-commerce firm JD.com has partnered accelerator operator Plug and Play to launch a startup initiative in Silicon Valley in the US targeting sectors such as retail and logistics startups.
As part of the partnership the companies will jointly launch an accelerator initiative that will incubate companies developing technologies such as artificial intelligence, cloud, big data and the smart supply chain.
Plug and Play will be responsible for the day-to-day running of the accelerator, selecting projects and mentoring companies. JD.com will offer expertise, consumer insights, technology, and access to its network and platform where startups can sell products.
JD.com is Plug and Play’s first collaboration with a China-based company. In June this year it joined forces with Mitsubishi UFJ Financial Group to launch a startup initiative in Japan, the 10th country in which it has set up an accelerator.
Jianwen Liao, chief strategy officer at JD.com, said: “We are thrilled that we are partnering Plug and Play, the accelerator responsible for enabling some of today’s leading startups, as we look to deepen our support on innovation in Silicon Valley.
“JD believes that innovation should not only benefit new businesses, but also support traditional industries competing in today’s environment and we look forward to identifying and partnering like-minded startups in the US.”