BRATISLAVA, March 9, (WEBNOVINY)- Slovak Minister of Economy Juraj Miskov and President and CEO of the company Plug and Play Tech Center Saeed Amidi have signed a memorandum on understanding, based on which Slovakia will have its first incubator in Silicon Valley in the USA. “The memorandum is a start-up mechanism for cooperation in establishment of the first Slovak pavilion in Plug and Play Technical Center in San Francisco,“ stated the Ministry of Economy.
“This will facilitate interconnection between Slovak companies specializing in the IT sector and experience that the area known for its know-how in the Silicon Valley offers,“ said Miskov after signing the memorandum. “We do welcome cooperation with Slovakia. It will be a great asset for the economy in all aspects, opportunity to extend our repertoire and help all those who are ready make their dreams come true,“ said Amidi.
The ministry suggests that the creation of the first Slovak incubator in the US gives a chance to small and medium-size enterprises to succeed in the cradle of business. Cooperation between Slovakia and the United States in creating the first Slovak pavilion might come to fruition in the course of 2011, said the department.
Incubators‘ role is to help starting businessmen. Located in the heart of Silicon Valley, Plug and Play Tech Center is a community of over 280 technology startup companies in the areas of Web 2.0, software (SaaS), systems, semiconductor and telecomm verticals. Since its inception in January 2006 the center has helped the startups raise in excess of USD 400 million in venture funding. The start-up companies have created a cumulative value of 2 billion dollars.
SITA