Frisco’s Vision for a Tech Hub
Frisco’s vision of becoming a hub for tech startups seemed far-fetched 10 years ago, when Aditya Varanasi was first trying to launch his digital marketing company. That hope, he says, is now far more credible.
The tech sector has boomed in recent years, and Frisco leaders say the city is ready to capitalize on that growth.
At a ribbon-cutting event in May, Mayor Jeff Cheney welcomed Silicon Valley-based Plug and Play Tech Center to Frisco. The accelerator and venture capital firm will partner with Frisco to manage the city’s 6,200-square-foot innovation hub and co-working space.
“We really wanted to lean into having our own startup culture in Frisco,” Cheney said.
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Varanasi’s company, Awarity, is among the dozens of startups that hope to benefit from the hub, located at Baylor Scott & White’s sports therapy and research center.
“You’re slowly starting to see the snowball pick up,” Varanasi said.
Frisco’s Startup-Friendly Identity
Frisco’s startup-friendly identity has only recently gained momentum, Varanasi said. Plug and Play, which also has an office in McKinney, is a big part of that push.
The city’s partnership with Plug and Play is part of a mission to make Frisco a major attraction for venture capital dollars. Earlier this year, the Frisco Economic Development Corp. announced startup industry expert Jon Nordby as its first-ever venture capitalist in residence.
“Frisco represents a rare convergence of resources, talent, and access which creates the perfect environment to redefine investing in the central United States,” Nordby said in a statement earlier this year.
Plug and Play’s Accelerator Programs
Startups accepted into Plug and Play’s accelerator programs get access to networking events, mentorship opportunities, as well as office space for collaboration and workshops.
The new Plug and Play location will be the first to be focused on sports tech, but will also host programs for financial tech companies.
Frisco’s Sports Tech Industry
Frisco is home to more than 500 startups and 130 of those are in the sports tech industry, according to the city.
David Steele, director of Plug and Play Frisco, said accelerator programs will be able to accommodate as many as 50 companies each year.
“You look at Frisco, Sports City USA. You have the Mavericks and the Stars playing in downtown Dallas. Look at everything that happens in Arlington,” Steele said. “I think the entire D-FW market as a whole is kind of this sports mecca.”
Startup Success Stories
In 2020, Adam McAbee co-founded StadiumDrop, a mobile delivery app that allows people at live sports events to order merchandise, food and beverages from concession stands from their seats.
McAbee credited the Cowboys headquarters, the PGA of America and Toyota Stadium to city leaders’ vision to make Frisco the “center of sports.”
“From a sports tech aspect of it, I can see Frisco being the hub,” McAbee said.
Startups like Awarity, StadiumDrop and others are also finding opportunities for partnerships with colleges and universities in North Texas to find talent.
David Cauthron, co-founder chief technology officer of financial technology company Outpave, said the company was pleasantly surprised to find a large population of people willing to work at tech startups.
“It’s great to pull engineering resources that you don’t have to go to Silicon Valley to get,” Cauthron said.
Conclusion
Varanasi said he hopes the Frisco Plug and Play’s reputation in the tech industry will attract more entrepreneurs to the area and inspire the collaboration that fueled the success of other startup hubs around the country.
“Take the dollars out of the picture for a second, and what you’ve got in these places is all the like-minded individuals,” Varanasi said.
Frequently Asked Questions
Q: What is Frisco’s vision for its tech industry?
A: Frisco’s vision is to become a hub for tech startups, with a focus on sports tech and financial tech.
Q: How will Plug and Play’s accelerator programs benefit startups?
A: Startups accepted into Plug and Play’s accelerator programs will get access to networking events, mentorship opportunities, as well as office space for collaboration and workshops.
Q: What is the current state of Frisco’s sports tech industry?
A: Frisco is home to more than 500 startups, with 130 of those in the sports tech industry, according to the city.
Q: How will Frisco’s partnership with Plug and Play impact the city’s economy?
A: The partnership is expected to attract more venture capital dollars to the city and create a thriving startup ecosystem.
