tech ties — tech ties — Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou is on a working visit to the United States, aiming to strengthen bilateral relations in innovation and technology. This visit, confirmed by the deputy ministry in a post on Monday, forms part of ongoing efforts to deepen cooperation between Cyprus and the US.
Tech ties: Engagements Focused on Digital Transformation
During his time in the US, Damianou is set to engage with various state officials. The discussions will centre around expanding collaboration in sectors that are crucial for digital transformation and technological development. This initiative highlights Cyprus’ commitment to enhancing its international profile in innovation.
Promoting Cyprus as a Business Destination
One of the key events during this visit is a roundtable discussion organised by Invest Cyprus in collaboration with fDi Intelligence, a publication of the Financial Times focused on investment. The purpose of this roundtable is to promote Cyprus as a modern and reliable business and investment destination.
A Strategy for Innovation and Investment
This initiative is part of a broader strategy to attract high-quality investments, particularly from major global markets including the United States. The visit underscores the increasing significance of technology diplomacy as nations strive to position themselves competitively in the global digital economy.
Recent Developments in Cyprus-US Relations
The current visit is a continuation of a series of initiatives aimed at bolstering Cyprus-US relations, especially in the domains of investment, technology, and entrepreneurship. In April 2026, Cyprus launched the Plug and Play Cyprus Innovation Centre, a key initiative designed to establish the island as a regional innovation hub.
- Silicon Valley Connection: The innovation centre connects Cyprus to a global network with over 60 locations, linking start-ups, investors, corporates, and partners in innovation.
- Support for Start-ups: It is anticipated that the centre will support around 60 start-ups and innovative companies through incubation and acceleration programmes.
- Job Creation: The initiative is projected to create approximately 500 jobs in the medium term.
Historical Context of Recent Initiatives
This project followed President Nikos Christodoulides’ visit to the United States in April 2025, where high-level contacts in New York and San Francisco laid the groundwork for the innovation centre. That visit was part of a broader strategy to attract investment in various sectors, including shipping, technology, and energy.
During that mission, Cyprus portrayed itself as a rapidly growing European economy with strong fiscal indicators and a strategic geographical position, serving as a bridge between Europe, the Middle East, and Africa.
Continued Outreach and Strategic Partnerships
Invest Cyprus has played a pivotal role in organising targeted engagements with US investment banks, private equity firms, and technology companies. This includes specialised roundtable discussions aimed at fostering these business relationships.
Recently, President Christodoulides announced a sustained outward-looking strategy that includes business missions to key international markets, with further engagements planned in the United States. These efforts are particularly timely given the current geopolitical uncertainties, reinforcing the necessity for proactive economic diplomacy and diversified investment flows.
Technological Initiatives and Future Goals
The sustained push towards strengthening ties with the United States not only aims to leverage innovation and investment but also seeks to position Cyprus as a significant regional business hub. The focus on technology and innovation reflects a commitment to fostering an environment conducive to growth and collaboration.
As Cyprus continues to enhance its international relations, the potential for increased collaboration in technology and innovation sectors appears promising. The outcomes of such visits and initiatives will be crucial in determining the future landscape of Cyprus-US relations and the role Cyprus plays within the global economy.
