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A good idea can start in Cyprus. Finding the money, customers, and contacts to turn it into a thriving business often means looking beyond the island.
That is the opportunity Cyprus hopes to pursue this week as Deputy Minister for Research, Innovation, and Digital Policy Nikodemos Damianou travels to California for meetings aimed at opening doors for local startups and technology businesses.
Damianou leaves Monday to attend the Plug and Play Silicon Valley Winter Summit, running Nov. 3–5, at the invitation of the international innovation network’s leadership. He is accompanied by Research and Innovation Foundation Director-General Theodoros Loukaides.
According to the deputy ministry, the visit is part of a broader government effort to attract technology investment and help Cypriot businesses build partnerships in the United States.
Why it matters to Cyprus
For a startup in a small market, reaching overseas customers can be essential to growth. Connections with investors and established businesses could help a Cypriot company fund its next stage, test its product in another market, or find a commercial partner.
If those connections develop into business, the potential benefits for Cyprus include skilled jobs and more opportunities for people to build technology careers on the island. Those are possible outcomes, however, rather than deals announced as part of this visit.
Damianou is scheduled to meet Plug and Play founder and CEO Saeed Amidi to discuss expanding cooperation with Cyprus. The focus will be on helping local startups and innovative companies access the organization's international network of investors, business partners, and markets.
Tapping into Cypriot talent abroad
The program also includes a “Cyprus & Innovation” roundtable organized by Cyprus Catalyst, bringing Damianou together with scientists and professionals from the Cypriot community in the United States.
Participants will discuss the development of Cyprus’ research and technology sector and how Cypriots working abroad can help it grow and gain international exposure.
For Cyprus, that offers another potential advantage: people with roots on the island who understand overseas industries and can help local businesses make useful connections.
Damianou will also meet business organizations to explore cooperation in technology, innovation, and entrepreneurship before returning to Cyprus on Friday, Nov. 6.
The practical test will come after the summit: whether introductions in California lead to investment, customers, and opportunities for businesses back home.
