Cyprus is seeking to strengthen its position in the global innovation ecosystem by connecting local startups with international networks and investors, President of the Republic Nikos Christodoulides said on Tuesday.
In a written statement issued on the occasion of the Plug and Play launch event at the Presidential Palace in Nicosia, the President stressed that innovation policy must translate into tangible benefits for citizens and businesses.
Partnership with global innovation platform
President Christodoulides said that the collaboration with Plug and Play Tech Center aims to link Cypriot startups and businesses with global networks, knowledge and markets.
He noted that the initiative emerged from contacts held in the United States in April 2025, which highlighted the importance of cooperation with leading international industry partners.
Plug and Play Tech Center is a global innovation platform that connects startups, companies and investors across multiple markets. According to the President, its establishment in Cyprus represents a vote of confidence in the country and reflects the joint commitment of the public and private sectors to invest in innovation with a measurable economic impact.
Supporting startups and research
Through the cooperation, the government aims to strengthen innovative activity and support the creation of internationally competitive businesses.
President Christodoulides said the programme will also connect Cypriot startups and researchers with international expertise while encouraging the development of quality employment opportunities.
Programme structure and participation
According to a Presidency press release, applications for the first cycle of the programme are open until mid-May and can be submitted through the Plug and Play website.
The first cycle is expected to begin around the end of May and will run for three months, with the participation of ten startups.
In total, six incubator and accelerator cycles will be implemented, supporting approximately 60 startups and innovative businesses operating in advanced technology sectors.
The initiative is expected to lead to the creation of around 500 new job opportunities.