Celebrating Innovation at the 2024 Frisco Innovation Luncheon
On August 23, 2024, the Frisco Chamber of Commerce hosted its annual Innovation Luncheon, sponsored by BSW Health, that brought together key figures from the community to discuss the city’s growing role as a hub for innovation. This event was a showcase of the city’s vision for the future, with a focus on fostering innovation, entrepreneurship, and economic growth. The luncheon featured a panel of innovators themselves, including Frisco’s Mayor Jeff Cheney, Frisco Economic Development Corporation (EDC) Director of Innovation Jeremiah Anderson, and Plug and Play Frisco Director David Steele. Their insights highlighted Frisco’s ambitious goals, the progress made so far, and the essential role of innovation in the city’s continued success.
The Vision: Frisco as a National Innovation Hub
The luncheon opened with Mayor Jeff Cheney reflecting on the origins of Frisco’s innovation journey. He shared how the city’s focus on innovation was sparked during a 2019 Chamber luncheon, where the discussion revolved around the impact of the PGA’s arrival in Frisco. This conversation led to the adoption of a “moonshot” goal: by 2040, Frisco aims to become the Silicon Valley of the central United States, a thriving innovation hub that attracts businesses, venture capital, and talent from across the country. Simply put, Frisco aims to be the Venture Capital Capitol of the U.S.
Mayor Cheney emphasized that the ingredients for this vision have long been present in Frisco. The city boasts a vibrant ecosystem, from Fortune 500 companies to entrepreneurial students in Frisco ISD. The journey towards becoming an innovation powerhouse is well underway, with significant milestones already achieved and more on the horizon. Cheney teased big announcements to come, further indicating that Frisco is just getting started on this ambitious path.
Building the Ecosystem: Progress and Partnerships
Jeremiah Anderson, who has been with the Frisco EDC for nearly a year, provided a detailed update on the progress towards Frisco’s innovation goals. He reported that in the past 10 months alone, the EDC has connected with over 70 new venture firms, a testament to the growing interest in Frisco’s innovation ecosystem. Anderson stressed the importance of messaging in attracting both local and national investors, highlighting that Frisco is home to over 450 startups with the potential to become the next big success stories. The goal is to keep these startups in Frisco, preventing them from seeking opportunities in traditional innovation centers like New York or California.
A key player in this ecosystem is Plug and Play Frisco, which has been instrumental in bridging the gap between corporate innovation, startups, and investors. David Steele, Director of Plug and Play Frisco, shared insights into the organization’s global reach, with 60 offices worldwide and partnerships with over 550 major brands. He underscored Plug and Play’s role in driving corporate innovation and startup engagement in Frisco, noting that the ecosystem is growing rapidly, with over 90,000 startups now part of the global Plug and Play network.
Steele highlighted the success of initiatives like the Frisco Founder Fundamentals program and the corporate innovation hubs that are now deeply integrated with Plug and Play’s operations. These efforts have already borne fruit, with two companies from Plug and Play’s sports tech cohort raising nearly $8 million after just a few months in Frisco. The impact of Plug and Play’s presence in Frisco has been profound, connecting the various elements of the innovation ecosystem and laying the groundwork for even greater achievements in the future.
Stay Tuned for Part 2
This panel was only one part of the innovation discussion. Stay tuned for Part 2, where we brought the city’s youngest entrepreneurs to the stage!
Thank You To Our Sponsors
Thank you to AMS Pictures for capturing the event on video.
And a special thank you to Suad Bejtovic Photography for always making us all look our best!
