On Friday, July 4th, a Memorandum of Understanding was signed between the “Phaistos” Investment Fund, the Foundation for Research and Technology – Hellas (FORTH), and Cisco — a strategic initiative that aims to strengthen the innovation ecosystem around 5G technology.

The primary goal of this partnership is to enable FORTH’s Institutes and research groups to leverage 5G technology to test and evaluate innovative solutions and products. The sectors expected to benefit from this partnership span a wide range, including transportation, healthcare, smart cities, agriculture, ICT, environment, and civil protection. At the same time, the initiative also supports startups and innovative companies investing in the development of applications and services based on 5G infrastructures. Companies funded by the “Phaistos” Investment Fund will have the opportunity to use the private 5G test network (Private 5G Campus), already developed by FORTH’s Institute of Computer Science in collaboration with Cisco, to test and further develop their technological solutions in a cutting-edge environment.

Cisco serves as the technological pillar of this partnership, actively contributing to the implementation of the Private 5G network through the provision of equipment, technical support, and advanced solutions in areas such as Multi-access Edge Computing (MEC), Cybersecurity, Internet of Things (IoT), and Network Intelligence. Cisco Private 5G is delivered as a service, reducing financial and operational risks for businesses, by integrating high-speed connectivity, low latency, and device segmentation—features critical for real-time applications. At the same time, it ensures operational simplicity, cloud-based management, security, continuous support, and investment protection, creating a stable and flexible environment for the development of advanced business solutions.

Antonis Tsiboukis, Managing Director of Cisco for Greece, Cyprus, Malta, and the Balkans, stated:

“This collaboration is a significant step towards bridging technology with entrepreneurship. Private 5G is a powerful tool for advancement; a communication network that combines operational stability, security, and portability. It is ideal for real-time applications under challenging and demanding conditions. It can be utilized by businesses, civil protection authorities, and even the Armed Forces. We are pleased to once again participate in an initiative that enhances competitiveness and innovation.”

The MoU signing ceremony was attended by the Minister of Digital Governance, Mr. Dimitris Papastergiou, who expressed his strong support for initiatives promoting innovation and technology transfer to the market. The CEO of Nova ICT, Mr. Alexandros Bregiannis, was also present, as Nova ICT contributes with resources and infrastructure for the successful implementation of the trials. In addition, Mr. Antonis Tzortzakakis, CEO of the “Phaistos” Investment Fund, and Mr. Dimitris Plexousakis, Director of FORTH’s Institute of Computer Science, highlighted the significance of this partnership.

Among other things, this Memorandum provides for the interconnection of businesses with venture capital and private investors, in addition to research activities, technological development, technical testing, and broader support initiatives, such as entrepreneurial seminars and synergies among the Parties. This cooperation strengthens the business environment in Greece, as technological innovation and healthy competitiveness within the startup ecosystem are strengthened, while the attraction of expertise from abroad is also reinforced.