Cyprus seeks deeper Silicon Valley links as US investment interest grows

Cyprus looks to Plug and Play to connect startups with global investorsDeputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou has concluded two days of meetings at the Plug and Play Silicon Valley Winter Summit, seeking to strengthen Cyprus’ international innovation links and create new opportunities for local companies. Damianou on Thursday said the visit had focused on expanding connections between Cyprus’ innovation ecosystem and international networks, investors and markets, as the government steps up efforts to attract American investment. “Two very productive days at the Plug and Play Summit 2026 in Silicon Valley, focused on strengthening the international connections of our ecosystem and creating new opportunities for collaboration,” Damianou said. The summit forms part of Cyprus’ wider drive to promote itself as a regional technology and innovation hub and strengthen ties with the American business community. The visit comes as President Nikos Christodoulides has placed the attraction of quality and productive investment among the government’s strategic priorities, citing growing interest from US companies. Speaking on Monday at the annual general meeting of the Association of Large Investment Projects, Christodoulides said the government was working to safeguard economic stability, improve the business environment and advance reforms aimed at strengthening investor confidence. “We are working to create the necessary framework so that attracting quality investment becomes an achievable goal,” the president said. He also announced that he would personally take part in a business mission to the United States towards the end of November, saying investment interest from American companies had increased considerably. “We are returning to the US at the end of November on a mission in which I will also participate, because we are seeing particularly increased investment interest from American companies,” Christodoulides said. He added that the government would work with the US administration to present Cyprus’ investment opportunities and prospects. During his visit to California, Damianou met with Plug and Play founder and chief executive Saeed Amidi and EMEA managing partner Seena Amidi, discussing ways to expand the organisation’s cooperation with Cyprus. The talks examined how the partnership could help Cypriot companies connect with global networks, investors and markets, building on Plug and Play’s presence in the local innovation ecosystem. Damianou thanked Saeed Amidi for welcoming him in Sunnyvale and for his interest in strengthening links between Cyprus and the wider international business community. The deputy minister also met delegations from South Korea, Egypt and Taiwan, as well as Copenhagen’s mayor of health, exchanging views on their respective local innovation ecosystems and exploring possible areas for future cooperation. A visit to SRI International, the research and innovation organisation based in Silicon Valley, was another highlight of the programme. Damianou said he had learned more about the organisation’s advanced research and its work in technology transfer and commercialisation, while discussing potential cooperation with Cyprus. Meetings with technology companies including Snowflake and PayPal provided further insight into innovative solutions and how they could support the development of Cyprus’ innovation ecosystem. Damianou was accompanied on the visit by Research and Innovation Foundation director-general Theodoros Loukaidis. The official programme also included a round-table discussion entitled “Cyprus and Innovation”, organised by Cyprus Catalyst, with Damianou and members of the Cypriot diaspora in the US, including scientists and professionals. The discussion was intended to examine the progress and prospects of Cyprus’ research, innovation and technology sectors, as well as the role the diaspora could play in their further development and international promotion. Cyprus Catalyst was established following Christodoulides’ contacts in San Francisco in April 2025, with the aim of serving as a bridge between the global Cypriot diaspora and the domestic innovation ecosystem. The initiative seeks to facilitate the exchange of expertise, support startups and improve access to investors and international markets, making greater use of the professional knowledge, business connections and international reach of Cypriots living abroad. Damianou’s visit also included meetings with business organisations and other bodies to explore further opportunities for cooperation in technology, innovation and entrepreneurship.