In the 90s, Phanos was the co-founder and CEO of a US based company which jointly developed and marketed portable and industrial Non Destructive Evaluation solutions based on eddy current technologies to NASA, the U.S. Navy and Ford Motors. The company was also an early pioneer in the development of PC/TV technologies which incorporated the internet and media for use at home and business on large size monitors, featured in a number of US publications such as PC Magazine. In the 90s, Phanos was also a co-founder and Senior Partner of a US based internet development company with focus on advanced web designs and applications having done work for DARPA (Defense Advanced Research Projects Agency).
In the 00s and after returning to Cyprus, Phanos closely worked with Israeli venture capitalists serving on the investment committee of a $64 million VC fund with focus on high tech startups. He also played an integral role in the development and management of a VC driven business incubator/accelerator with focus on ICT startups which within less than two years from the company’s inception was offered a €1.2 million pre-money valuation by a strategic investor. During that period, he also worked on a number of European Commission funded projects relating to innovation and entrepreneurship, visiting and/or collaborating with some of the leading incubators and technology parks in Europe and elsewhere including Sophia Antipolis, Antipolis Innovation Campus (France), Adlershof Technology Park (Germany), I3P, Veneto Innovazione (Italy), Barcelona Activa (Spain), St. John’s Innovation Center - Cambridge, Manchester Science Enterprise Center, Oxford Innovation, Imperial Innovations, Scottish Enterprise (UK), CorkBIC (Ireland), IPN (Portugal), MINC (Sweden), Innopolis (Finland), Technopol (Estonia), Van Leer Technology Center, Maayan (Israel), Biobay (China)and others.
In the 10s, Phanos has been spending time with a number of startup and entrepreneurial initiatives in Cyprus under different capacities such as mentor, coach and advisor.
He currently serves as Business Development Manager for Global Markets and International Banking at Hellenic Bank, Vice-President of the American Chamber of Commerce in Cyprus and District Governor of the American Hellenic Educational Progressive Association (AHEPA). Phanos is also on the Advisory Board of the Business School at the European University Cyprus, a Paul Harris Fellow of Rotary International and a member of CYBAN.