Nicodemos Damianou: Plug and Play’s presence in Cyprus fundamental in growth of startup and innovation ecosystem

11:18 - 12 May 2025

Companies #Plug and Play #Silicon Valley

Plug and Play’s presence in Cyprus will be fundamental in elevating and complementing the country’s efforts to support the growth of its startup and innovation ecosystem, Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou has said.

Posting on X about his meeting with executives from the American venture capital firm last week, Damianou said it followed President Nikos Chrsitodoulides’ meeting with Plug and Play’s CEO, Saeed Amidi, during his trip to San Francisco last month.

Read more: PlugandPlayTC to visit Cyprus to explore opening office and investing here, Christodoulides says

“We are delighted to see the commitment and the interest of a leading global innovation platform headquartered in Silicon Valley, to establish operations in Cyprus,” he said. The Deputy Minister mentioned the Letter of Intent the government signed with Plug and Play: “We are very happy to see this commitment on both ends, entering the next phase of project exploration to establish the format and nature of these operations.”

Read more: Plug and Play executives at Presidential Palace in Nicosia for meeting

Concluding, Damianou said “We are confident that having Plug and Play on the island will certainly be fundamental in elevating and complementing our efforts to support the growth of the Cyprus startup and innovation ecosystem and position our country as a strong regional centre of excellence”.

Read more: The profiles, HQs, assets under management and more of Plug and Play Tech Center and Tenstorrent

Warm thanks to the Managing Director for Europe of @PlugandPlayTC, @BorjaAznar and @AlfredoSoriaG, Business Development Director, for a productive 2-day visit, which follows through from the meeting of @PresidentCYP, @Christodulides with the Founder and CEO of Plug and Play… pic.twitter.com/xZpYu7e8bK
— Nicodemos Damianou (@NicDamianou) May 7, 2025

Nicodemos Damianou: Plug and Play’s presence in Cyprus fundamental in growth of startup and innovation ecosystem

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