Plug and Play Arrives in Cyprus – Letter of Intent Signed, Innovation Center Under Consideration
Global Innovation Platform Signs Letter of Intent with Cyprus Government to Assess Long-Term Collaboration
Representatives from Plug and Play, one of the world’s leading innovation and investment platforms, are visiting Cyprus to explore opportunities for establishing operations.
The high-level visit follows a meeting in early April between Cyprus President Nikos Christodoulides and Plug and Play’s Founder and CEO, Saeed Amidi, in California. During that meeting, Amidi expressed interest in visiting Cyprus to evaluate the feasibility of opening an office and investing in the country's innovation ecosystem. That intention now appears to be taking shape.
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During their current visit, Plug and Play executives met with key government officials at the Presidential Palace in Nicosia, including Deputy Minister to the President Irini Piki, Deputy Minister of Research, Innovation and Digital Policy Nikodimos Damianou, Director General of the Research and Innovation Foundation Theodoros Loukaidis, and Finance Ministry Director General Andreas Zachariadis.
According to an official statement from the Presidency, the Plug and Play team is conducting a series of discussions with public sector institutions, private market players, investors, and financial institutions. These talks aim to establish a framework for potential long-term cooperation, which may include the creation of a Plug and Play innovation center in Cyprus.
A key milestone during the visit was the signing of a Letter of Intent between the Republic of Cyprus and Plug and Play, formalized by Deputy Minister Damianou on behalf of the government.
Founded in 2006 in Silicon Valley, Plug and Play connects startups with a global network of corporations, venture capital firms, and industry leaders. The platform operates across several countries—including the United States, Germany, Brazil, and China—offering early-stage companies access to capital, mentorship, and international market opportunities. It is widely recognized for helping startups pilot and scale technologies with lower risk.
Further discussions between Plug and Play and Cypriot stakeholders are expected in the coming days, with decisions on a possible expansion anticipated soon.
