Union Pacific Taps Into Silicon Valley by Partnering with Plug and Play to Drive Freight Transportation Innovation
Omaha, Neb., November 29, 2017
The world's largest publicly traded freight railroad, Union Pacific, is tapping into Silicon Valley to drive freight transportation innovation by partnering with Plug and Play, the world's largest startup accelerator and innovation center.
As an accelerator, Plug and Play helps existing start-up companies grow with a combination of seed money, mentoring and connections to large companies in relevant industries interested in investing in their ideas.
Union Pacific is an anchor partner in Plug and Play's Supply Chain Innovation Platform. Union Pacific participates in pitches from startup companies and votes on pitches the railroad believes can deliver the most positive impacts. The winning startups collaborate with Union Pacific on those projects.
"Our transportation solutions help our customers compete in the global marketplace," said Beth Whited, Union Pacific executive vice president and chief marketing officer. "One of the main reasons Union Pacific continues to thrive after 155 years in business is because we are at the leading edge of innovation. Partnering with Plug and Play will help us remain at that forefront."
Plug and Play presented Union Pacific with a Corporate Innovation Award at its fall summit. Union Pacific was recognized for being an innovative and engaged partner adding collaborative value to the Plug and Play ecosystem.
"Union Pacific's participation in our Innovation Platform has enriched startups and other corporate partners' experience," said Farzin Shadpour, vice president and managing director of Plug and Play, Supply Chain. "By collaborating with the startups and other corporate partners on technology initiatives, Union Pacific is able to select the best that startups have to offer to grow and lead in the 21st century."
Plug and Play and Union Pacific, along with the ecosystem's partners will soon select a second group of startups for the Supply Chain program.
About Union Pacific
Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. Over the last 10 years, from 2007-2016, Union Pacific invested approximately $34 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner.
ABOUT PLUG AND PLAY
Plug and Play is a global innovation platform. We connect startups to corporations and invest in over 150 companies every year. Since inception in 2016, our programs have expanded worldwide to include a presence in 26 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 200 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 365 networking events per year. Companies in our community have raised over $6 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com/supply-chain
The statements and information contained in the news releases provided by Union Pacific speak only as of the date issued. Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued. Union Pacific makes no commitment, and disclaims any duty, to update any of this information.