Plug and Play Supply Chain & Logistics

Today in Jerry's Corner - Gen AI Adoption: While there has been a surge in AI-enthusiasm over the past few years, it's worth questioning whether companies are adopting the technology at the same pace as the hype suggests. Gen AI boasts limitless potential and a wide array of use cases, but the reality is that the majority of companies are still exploring how to effectively implement and manage Gen AI across all business areas. According to McKinsey's new report on AI, 65% of organizations have adopted Gen AI in at least one business function, up from 33% last year. While this increase appears significant, a deeper dive reveals that 57% of these use cases are concentrated in Marketing/Sales and Product/Service Development. Conversely, Gen AI adoption in industries like supply chain and manufacturing remains low, with adoption rates of just 6% and 4%, respectively. What is causing the low adoption rate in other industries? Several factors influence the adoption of Gen AI. - Firstly, although Gen AI has been effectively applied in mainstream areas like customer support and marketing, there remains considerable uncertainty about its implementation in other business sectors. This uncertainty is due to a lack of clear examples and proven strategies, causing companies to take longer to explore innovative ways to integrate Gen AI across various business functions. - Secondly, there is a scarcity of expertise. Due to the rapid development of Gen AI, there are very few people with the knowledge to initiate and implement new projects in industries without established methodologies. - Lastly, the reliability of Gen AI poses a significant challenge. Current Gen AI technologies are not always 100% accurate in their outputs, sometimes resulting in "hallucinations" or erroneous responses. In many industries, even a single incorrect answer can lead to significant complications. Until these reliability issues are resolved, it remains challenging to integrate Gen AI into business processes that demand absolute accuracy. What are your thoughts on Gen AI? #genAI #supplychain #advancedmanufacturing

We are less than two weeks away from the Plug and Play Cedar Park Advanced Manufacturing Expo! 🚀 Join us on July 16th to celebrate our startups' success, featuring compelling pitches, dynamic keynote speeches, enlightening conversations on the future of advanced manufacturing and entrepreneurship, and invaluable networking opportunities with industry peers. Best part? It's FREE and open to all! Don't miss out on the chance to connect, learn, and explore the future of innovation. 🏢 : Oni Studios (1220 Toro Grande Blvd, Cedar Park, TX) 🗓 : Tuesday, July 16 ⏰ : 4PM – 7PM CT Register Here:  https://lnkd.in/g5cB5Yfn See you there! #PlugandPlay #CedarPark #AdvancedManufacturing #Innovation #Networking

Welcome back to (a slightly delayed) Jerry's Corner! Up this week: PitchBook US VC Outlook: Midyear Update 📄 PitchBook's midyear report on the US venture capital landscape highlighted several interesting trends. 💰 VC Funding: With less than ideal exits, we've seen fewer funds raising with lower fund size. 1️⃣ In Q1, PitchBook recorded the lowest average fund size since 2017, with 2024 on pace to have the lowest amount of funds closed in a decade. 2️⃣ In Q2, we've seen a few major new funds from Andreessen Horowitz and others, which pull up the average fund size to above last year's figure. There appears to be a bimodal distribution with a high spread, as the median fund size dropped to $22.5 million in Q1 (the lowest since 2015), while the average fund size has increased from last year. The bimodal distribution of fund sizes can be linked to the lack of IPOs and increasing market conservatism, explaining the challenges smaller VCs face in raising funds from limited partners (LPs). Flat or Down Rounds: This year we've seen a lot of down and flat rounds from startups that have previously raised. In PitchBook's midyear update, we saw that down rounds in Q1 2024 are at their highest level since 2014, making up 17% of VC deals. Flat and down rounds comprised 27.4% of VC deals in Q1 2024, a decade-high. In the last few years as the economic climate has cooled off with interest rates hiking, investors have been more conservative with investments. With possibilities of lowering interest rates and better market conditions this year, we could potentially see a massive influx of investors in the space. ↗ Accelerators Increasing Role: As early investors increasingly seek more developed products and traction, the importance of accelerators is rising as a result. PitchBook data shows that 2023 saw more capital invested in accelerator rounds than ever before, with 2024 on pace to be another strong year. Accelerator programs play a key role in supporting startup growth by providing the right resources, a collaborative ecosystem, mentorship, and new networks that can ultimately help startups aim for an IPO. #accelerator #pitchbook #vcfunding

Q2 Partner Report - 🚀 Exciting News in Supply Chain Innovation In Q2, we've been hard at work in our Supply Chain corporate partner ecosystem. Check out what we've accomplished in just 3 short months: 🔹 6 New Pilots in Progress 🔹 100+ Startup Introductions to Partners 🔹 20 Corporate Peer-to-Peer Meetings Conducted 🔹 5 Startup Collections Delivered Interested in kicking off your own innovation journey? Don't miss out on the opportunity to join our growing Supply Chain ecosystem. Reach out today to stay ahead and never miss the next big thing! #SupplyChain #Innovation #Partnership

 📣 Calling all innovators and problem solvers! Mitsubishi Electric Automation, Inc. is hosting the "Solve the Business Problem" Challenge 2024 and you won't want to miss this opportunity. 💡 🌎 This challenge gives you unique access to real-world business problems that Mitsubishi Electric faces. This is your chance to showcase your innovative solutions and make a tangible impact on a global scale. ❗ Don't miss out on this exciting chance to collaborate, innovate, and potentially revolutionize with Mitsubishi Electric. For more information and to apply, visit: https://lnkd.in/gE9GApbu #MitsubishiElectric #SolveTheBusinessProblemChallenge #Innovation #Collaboration #ProblemSolving 

During the Plug and Play Silicon Valley June Summit, our satellite offices had the opportunity to showcase their regions in the Location Pavilion. Northwest Arkansas, Cedar Park and Arizona highlighted their ecosystems with a booth that startups and corporates alike could visit to learn about what makes each unique for supply chain and advanced manufacturing. Below are a few of the folks who were spotted at each both: Alaina Pattillo, Sara Smith, Brenda Hernandez, M.S., Samuel Scalise, Ron Maloney (Northwest Arkansas Council), James Bell, MBA (Greater Bentonville Area Chamber of Commerce), Dean Simms-Elias, Jordan Fourcher, Jay Foster, Max Bregman, Serhii Kaminskyi, Chukwudi N., Robert Strickland, Kyle Strickland, Caroline Arzoo, Jesse Lozano Comment below if you were at any of our booths 👇🏾 #pnptc #supplychain #advancedmanufacturing

Jerry's Corner (Shipping Disruptions): Shipping disruptions are still a major problem with no end in sight. A lot of heavily used canals and rivers are facing their own issues, deterring shipping companies from passing through and causing massive amounts of shipping delays and rapidly increasing costs. - Panama Canal: One of the worst droughts they've had in the last century. - Strait of Malacca: Concerns are rising as the Malacca Dilemma continues. - Mississippi River: Possibility of a drought for the third straight year. - Strait of Hormuz: Carriers are concerned with the ongoing conflict in the Middle East, and are worried that the passage will be at risk. - Suez Canal: More and more carriers are avoiding the Red Sea since vessel attacks started, causing revenue to drop 60% comparing May this year to last. With ever-changing conditions, we need our supply chain to be more robust than ever. #supplychain #shipping #shippingdisruptions #shippingdelays

Excited to be part of this journey with portfolio company Wilya (formerly Gig and Take)

Over 3 days the Plug and Play team hosted 17 industry-specific expos, 10+ breakout sessions, and numerous networking events; drawing over 3,500 people, including industry titans, innovators, government officials and investors from around the globe, to our Silicon Valley HQ. 📷 Snapshot of the 72-hour marathon: Plug and Play Supply Chain & Logistics Expo 🇺🇸 Intel Corporation Kick-Off : ▪ Summit kicked off with a meaningful conversation between Keyvan Esfarjani, EVP and Global COO of Intel, and Saeed Amidi, Founder of Plug and Play, about the CHIPS Act , American dynamism, and the future of Silicon Valley. 🏆 Walmart Spotlight: ▪ Keynote – Insightful remarks from Mohan Ram Akella, SVP, E2E Network Strategy & Operational Science, Walmart. ▪ Corporate Innovation Award –  Thank you to Kevin Kowalski, for accepting the Plug and Play Corporate Innovation Award on behalf of Walmart, to congratulate their vision and execution of the inaugural Innovation Day. 🎉  Exciting Announcements: ▪ Mitsubishi Electric Innovation Challenge Launch – Takehiro Ishiguro. ▪ Ship Angel – Celebrated a $5M raise and new product launch! ▪ 4 New Success Stories from supply chain portfolio companies: Range Energy, REPOWR, DISPL, Wareclouds. 🚀 Batch 14 Startup Showcase: Massive shoutout to the startups driving innovation across the supply chain: BANF Smart Tire, Ship Angel, Spectrohm, Ceres Technology, Auba, Zerio, Wand, facilis.ai, Soource, Dexory, Protex AI. 🤖 Amazon: Franziska Bossart, Head of Amazon’s Industrial Innovation Fund, delivered closing remarks during the Enterprise & AI Expo alongside Digit, a 5'9" bipedal robot from Agility Robotics, deployed in Amazon’s warehouses and fulfillment centers to assist with material handling. Franziska spoke about the ongoing Amazon Innovation Challenge powered by PnP Supply Chain, focusing on tech improvements for packaging visibility. 📦 ➕ Three Exclusive Events: ▪ Anchor Advisory – Enriched with presentations by Peter Matthiesen, DSV - Global Transport and Logistics covering autonomy, sustainability, and new partnership", and Edmund Zagorin, CSO Arkestro on AI Governance & Policy. Followed by an exciting fireside chat with Xiaodi Hou, Founder & former CEO of TuSimple, working on his next venture. 💡 ▪ Supply Chain and Advanced Manufacturing Mixer – A 250+ person turnout, featuring Digit and friends from Agility Robotics. 🤝 ▪ Corporate Venture Capital (CVC) Roundtable – Memorable fireside chat with legend Mike Maples, Jr, Founder & Managing Partner of Floodgate, and George Damouny. Session led by Harvey Williams and Julianne Roseman. 🙌 Thank you to all who contributed to making this June Summit and Supply Chain Expo an unparalleled success! Curious about our Supply Chain & Logistics Program? Contact Kathleen Quinn Steeves for more information 📬. #PNPTCSiliconValley #SupplyChain #industrialinnovation

🔬Are you aware of the rapidly evolving field of Quantum Information & Science Technology? The Plug and Play Arizona office is co-hosting a Quantum Innovation Day with Raytheon and Honeywell Aerospace Technologies to showcase top startups and academics advancing the field of quantum technology. 💡Unicorn startup Quantinuum will deliver a keynote presentation and startups Ambature, BosonQ Psi (BQP), PQShield and QuSecure will deliver presentations on their technology and growth 📖 Academic institutions Arizona State University, University of Arizona and Northern Arizona University will discuss the Center for Quantum Networks and the Quantum Collaborative, national initiatives leading efforts in quantum research, experimentation, and workforce development. 🤝 This event will convene industry professionals, startups, academic institutions and government agencies to discuss quantum technology, and discover new partnership opportunities that can impact the market and the regional ecosystem. 🚀 We encourage you to attend if you are curious about this technology and want to engage with the founders and experts building the tools and talent pipeline for the future Register here while there are still tickets- https://lnkd.in/gx6PPSJa Thanks to our local partners for supporting our innovation programs: Arizona Commerce Authority, Intel Corporation, NXP Semiconductors, Raytheon, Honeywell Aerospace Technologies #arizona #AZ #plugandplay #venturecapital #VC #startup #innovation #technology #quantum #QIST #computing #cybersecurity #aerospace #defense #research