12 March 2025
Sumitomo Electric Receives its First Corporate Innovation Award at the Plug and Play Silicon Valley Winter Summit 2024
Sumitomo Electric Industries, Ltd. is pleased to announce that it received the Corporate Innovation Award for the first time at the Silicon Valley Winter Summit 2024, hosted by Plug and Play (Headquarters: Silicon Valley, the U.S.; CEO: Saeed Amidi), one of the world's largest innovation platforms.
Plug and Play, founded in Silicon Valley, the U.S. in 2006, is one of the world's largest innovation platforms that promotes open innovation by connecting startups, companies, investors, and government and public institutions.
Sumitomo Electric was selected for the 'Corporate Innovation Award,' presented by Plug and Play to one company for each vertical at PnP summits that is actively engaged in innovation activities, in recognition of its numerous proof-of-concept* (PoC) achievements in the mobility field, fostering a culture of innovation for startup utilization, collaboration with startups in the community, and rapid and proactive efforts.
Innovation Core SEI, Inc. (ICS), the Sumitomo Electric Group's first overseas R&D base, served as the point of contact for Plug and Play and participated in the awards ceremony held in November.
*Example of PoC achievements: Sumitomo Electric’s Press Release, August 3, 2023
Sumitomo Riko, Sumitomo Rubber, and Sumitomo Electric to Collaborate with US Carbon Recycling Firm LanzaTech to Accelerate Circular Economy: Joint Venture to Focus on Developing Waste Recycling Solutions
https://sumitomoelectric.com/publications/pr-news-articles/2023/08/sumitomo-riko-sumitomo-rubber-and-sumitomo-electric
As a member of the global innovation ecosystem, we will continue our efforts to pioneer the future.
Aitana Hierro, Silicon Valley Partner Success Manager at Plug and Play, comments:
“The award recognizes Sumitomo Electric's commitment to innovation and collaborative attitude. Sumitomo Electric has demonstrated its dedication to promoting innovation within the organization by actively participating in multiple PoC projects and events such as the Corporate Reverse Pitch and by conducting Innovation Workshops at its headquarters in Japan. In addition, the company focuses on supporting new technologies by working with the Plug and Play startup community. Notably, ICS has demonstrated a proactive and forward-thinking approach and an outstanding collaborative attitude. Plug and Play applauds Sumitomo Electric's accomplishments, especially Jun Zhang and Makiko Suzuki of ICS, who have consistently demonstrated a quick response, a positive attitude, and an innovative approach and have been excellent collaborators.”
For your reference
Plug and Play
It offers startup support programs in a wide variety of fields and operates in more than 50 locations worldwide. Leveraging its unique network and resources, the company partners with 550 leading global companies in 25 or more industry sectors to provide new growth opportunities and help create innovative solutions.
https://www.plugandplaytechcenter.com
ICS
ICS was established in Silicon Valley, the U.S., in 2001 as the Sumitomo Electric Group's first overseas R&D base, and became a corporate partner of Plug and Play in 2017, focusing on creating new value through collaboration with startups and open innovation activities.
https://global-sei.com/usa/ics/