I'd never heard of Plug and Play, even though they seem fairly large. It's clear from their website that they're not quite a seed program like Bootup Labs or Y Combinator, but it's not exactly clear what they are. The feel of their site is pretty corporate and scattershot - does anybody have insight into what these guys are like and how they operate?
PnP model is selling services to startups - first office space, then based on your needs it could be hosting, HR etc. They don't take equity and don't have any limits regarding how long you can stay there (because they get paid cash). However the owner (Saeed) also has a fund and does get in on some Series A rounds. There is a lot more about PnP & Saeed Amidi on thefunded.com
Ah, that makes much more sense. Thanks a lot Igor.
This doesn't bode well for Bootup Labs after their recent fiasco