One of the leading international innovation organizations, headquartered in Silicon Valley and present in over 60 locations worldwide, connecting thousands of startups, investors and large businesses in a single ecosystem, is coming to Cyprus.
Plug and Play will officially launch in Cyprus from today, Tuesday, 7 April, with an event at the Presidential Palace and through the Plug and Play Cyprus Innovation Center, through which Cyprus actively integrates into a global innovation ecosystem, gaining direct access to investment capital, know-how and international markets. At the same time, new opportunities are being created for Cypriot businesses to grow and expand internationally, while at the same time enhancing the ability to create quality jobs in highly specialised sectors.
The new Tech Center is expected to act as a catalyst for the domestic ecosystem, with services to businesses and research organisations and six cycles of incubator and acceleration programmes, through which approximately 60 start-ups and innovative businesses in cutting-edge sectors are expected to be supported.
Moreover, in the medium term, it is estimated that approximately 500 new jobs will be created and the interconnection of the Cypriot economy with international investment networks will be substantially strengthened.
The innovation giant's international momentum
The decision of Plug and Play, one of the leading international innovation organizations, to operate in Cyprus came as a result of contacts made by the President of the Republic in the United States in April 2025, as well as the systematic follow-up actions that followed, within the framework of the government's broader strategy to strengthen extroversion and promote Cyprus as a reliable and competitive investment destination.
The organisation has a presence in dozens of countries, an extensive network of thousands of startups, partnerships with large multinational companies and connections with institutional investors, operating as an international hub for innovation, development and business networking.
The meetings in the US and the contacts that followed formed the basis for Plug and Play’s Cyprus market presence , which focuses on driving innovation in large organisations, helping them stay one step ahead and thrive in today’s rapidly evolving business landscape. By selecting strategically aligned startups that meet their unique technological challenges, the company’s partners benefit from first-hand knowledge of technology trends and networking opportunities with industry leaders.
The Plug and Play ecosystem includes over 25 industries, over 60 international offices, 550+ innovation partners and more than 100,000 startups.
The CEO and the "lucky building"
The Founder & CEO of Plug and Play is Saeed Amidi, a seasoned investor and executive with over 30 years of experience growing businesses across multiple industries, including real estate, bottled water, packaging, and technology investments. Following the initial success of his ventures, the Amidi Group went on to purchase a building in Palo Alto and lease additional office space to startups.
Hosting many of the world’s first and most notable startups under its roof, the property, considered the “lucky building,” has seen many successful startups and entrepreneurs pass through its doors, including Larry Page and Sergey Brin of Google, Pierluigi Zappacosta of Logitech, Peter Thiel of PayPal, and Andy Rubin of Danger. Over the years, Saeed Amidi realised the unique position this building placed his family and businesses in as investors.
As CEO and founder of the company, Amidi develops his passion for the technology industry every day by collaborating with innovative partners and the best global startups to facilitate positive change worldwide. Since Plug and Play launched in 2006, the company has worked with over 100,000 startups, made over 2,000 investments, and has over 30 unicorns, including Dropbox, PayPal, Lending Club, N26, and Honey.
After moving to Silicon Valley in the late 1970s, Amidi experienced firsthand the rise of the region's innovation ecosystem, an experience that continues to shape Plug and Play's mission to connect startups, companies, investors, governments and universities worldwide.
(Source: InBusinessNews)
