Saeed Amidi, 50, the founder and CEO of Plug and Play Tech Center, has in the past four years witnessed the launch of more than 250 start-ups, including about 50 foreign firms.
Amidi’s company helps startups develop products while also fostering a communal environment in which international entrepreneurs can come together to share successful formulas for starting up businesses.
Born and raised in Iran, Amidi got his start as an entrepreneur when he was a student at Menlo College in California in 1979, where he started a bottled-water distribution company. He made the switch to the tech industry a couple decades later, in 2000.
He told Arabic Know-ledge@Wharton about his venture, the reasons for his success and explained why he left Iran for America.
Amidi said his idea for Plug and Play came long before he actually began the company. “A company I started 30 years ago involved packaging bottled water at 165 University Ave. [in Palo Alto, California]. I saw Osborne computer come in next to me and build the first portable computer. This is before I knew what technology was. Then I had Pierluigi Zappacosta bring Logitech from Switzerland and build a great company in the Bay Area. I saw the journey of PayPal and finally Google. I’ve watched these companies grow.
“By coincidence after the dotcom bust, [my brother Rahim and I] launched a start-up in Los Angeles called Hollywood Productions for over 100 shows being produced, and built a community of digital media properties. [The community] shared ideas and personnel. As one filming winds down, the post-production equipment is used for another. The entertainment industry is almost like a start-up. They start with an idea and script then build a team: The producer, the director, the cast and a product,” Amidi explained.
Asked where he got the idea for his burgeoning company, Amidi said, “I had the beginning of an idea from the little building in Palo Alto. I said, ‘Imagine if a lot of companies were working toward their dreams in one location.’ After we built [Plug and Play], we realized [the entrepreneurs] needed to build a community for networking. That’s why we have 100 events a year here. What else do they need? They need angel money and venture capital. This is why we have Band of Angels [a Silicon Valley seed-money investment firm] next door to work with their portfolio companies and members. The idea of having a community of start-ups focused on its own goals but at the same time willing to help each other is a good one,” he said.
“One thing I am proud of at Plug and Play is the community of 250 start-ups that are physically here and the extended community of maybe another 750 start-ups associated with it,” Amidi said.
But Amidi didn’t take all the credit for the success of his company. “I didn’t study software or mechanical engineering. I couldn’t understand technology. Because I do not understand technology, I have surrounded myself with entrepreneurs who help me do the due diligence. When we look at an idea as most [venture capitalists] do, you have another portfolio company that you respect do the evaluation,” he said.
Amidi also talked about his experience leaving Iran for America. “I enjoy the opportunity America has granted me. I was from an affluent family in Iran. The 1978[-79] revolution was almost like a wake-up call for me. I was 18. After being a spoiled student at Menlo College, I suddenly realized family wealth could disappear,” he said, explaining that the situation he found himself in all but forced him to be an entrepreneur.
“My father was my mentor, my leader. Within 40 days of the revolution, he said, ‘Saeed, we can take care of the tuition. However, for living expenses, you’d better start working.’ He then gave me a solution: “Saeed, if you help me look for business opportunities, I can pay you.’ In a way, he put pressure on me to be an entrepreneur. That summer, I started my business, American Liquid Packaging Systems.
“My journey from Iran and restarting our family business from scratch was very tough, but it was a great experience…. I wish I had then all of the knowledge I do now. It took me 20 years to build my company. In the technology space, you need to do the same 20 years in two years, and find what the customer needs, build it and deliver it. You have to go through all the ups and downs at a fast pace. That is why it is so important to have mentors and advisers.
“I’ve bootstrapped my companies [and financed them on my own] in the past. If I had to re-live my life, my first lesson would be to study more. The second lesson would be to surround myself with smarter people—team members to help me accelerate my journey,” Amidi said.
Learning from his own life experiences, Amidi advised aspiring entrepreneurs to use their backgrounds and circumstances to their advantage.
“When I speak to students around the world, I tell them to make the best out of where they are, the university they graduated from and the cards they have in their hands. My father used to tell me that you have to work extremely hard every day toward your goal, but sometimes you don’t know what is in front of you. If you’re going in the right direction, new doors and opportunities could open a week or two from now that you cannot even imagine today.”
Saeed Amidi, 50, the founder and CEO of Plug and Play Tech Center, has in the past four years witnessed the launch of more than 250 start-ups, including about 50 foreign firms.
Amidi’s company helps startups develop products while also fostering a communal environment in which international entrepreneurs can come together to share successful formulas for starting up businesses.
Born and raised in Iran, Amidi got his start as an entrepreneur when he was a student at Menlo College in California in 1979, where he started a bottled-water distribution company. He made the switch to the tech industry a couple decades later, in 2000.
He told Arabic Know-ledge@Wharton about his venture, the reasons for his success and explained why he left Iran for America.
Amidi said his idea for Plug and Play came long before he actually began the company. “A company I started 30 years ago involved packaging bottled water at 165 University Ave. [in Palo Alto, California]. I saw Osborne computer come in next to me and build the first portable computer. This is before I knew what technology was. Then I had Pierluigi Zappacosta bring Logitech from Switzerland and build a great company in the Bay Area. I saw the journey of PayPal and finally Google. I’ve watched these companies grow.
“By coincidence after the dotcom bust, [my brother Rahim and I] launched a start-up in Los Angeles called Hollywood Productions for over 100 shows being produced, and built a community of digital media properties. [The community] shared ideas and personnel. As one filming winds down, the post-production equipment is used for another. The entertainment industry is almost like a start-up. They start with an idea and script then build a team: The producer, the director, the cast and a product,” Amidi explained.
Asked where he got the idea for his burgeoning company, Amidi said, “I had the beginning of an idea from the little building in Palo Alto. I said, ‘Imagine if a lot of companies were working toward their dreams in one location.’ After we built [Plug and Play], we realized [the entrepreneurs] needed to build a community for networking. That’s why we have 100 events a year here. What else do they need? They need angel money and venture capital. This is why we have Band of Angels [a Silicon Valley seed-money investment firm] next door to work with their portfolio companies and members. The idea of having a community of start-ups focused on its own goals but at the same time willing to help each other is a good one,” he said.
“One thing I am proud of at Plug and Play is the community of 250 start-ups that are physically here and the extended community of maybe another 750 start-ups associated with it,” Amidi said.
But Amidi didn’t take all the credit for the success of his company. “I didn’t study software or mechanical engineering. I couldn’t understand technology. Because I do not understand technology, I have surrounded myself with entrepreneurs who help me do the due diligence. When we look at an idea as most [venture capitalists] do, you have another portfolio company that you respect do the evaluation,” he said.
Amidi also talked about his experience leaving Iran for America. “I enjoy the opportunity America has granted me. I was from an affluent family in Iran. The 1978[-79] revolution was almost like a wake-up call for me. I was 18. After being a spoiled student at Menlo College, I suddenly realized family wealth could disappear,” he said, explaining that the situation he found himself in all but forced him to be an entrepreneur.
“My father was my mentor, my leader. Within 40 days of the revolution, he said, ‘Saeed, we can take care of the tuition. However, for living expenses, you’d better start working.’ He then gave me a solution: “Saeed, if you help me look for business opportunities, I can pay you.’ In a way, he put pressure on me to be an entrepreneur. That summer, I started my business, American Liquid Packaging Systems.
“My journey from Iran and restarting our family business from scratch was very tough, but it was a great experience…. I wish I had then all of the knowledge I do now. It took me 20 years to build my company. In the technology space, you need to do the same 20 years in two years, and find what the customer needs, build it and deliver it. You have to go through all the ups and downs at a fast pace. That is why it is so important to have mentors and advisers.
“I’ve bootstrapped my companies [and financed them on my own] in the past. If I had to re-live my life, my first lesson would be to study more. The second lesson would be to surround myself with smarter people—team members to help me accelerate my journey,” Amidi said.
Learning from his own life experiences, Amidi advised aspiring entrepreneurs to use their backgrounds and circumstances to their advantage.
“When I speak to students around the world, I tell them to make the best out of where they are, the university they graduated from and the cards they have in their hands. My father used to tell me that you have to work extremely hard every day toward your goal, but sometimes you don’t know what is in front of you. If you’re going in the right direction, new doors and opportunities could open a week or two from now that you cannot even imagine today.”
