The launch of Plug and Play Tech Center in Cyprus is being described as a strategically important step for the country’s innovation ecosystem, according to Invest Cyprus.
The organisation welcomed the official launch, which took place at the Presidential Palace, saying the presence of a leading global innovation platform will enhance Cyprus’ international connectivity and support its positioning as a growing innovation hub.
Headquartered in Silicon Valley and active in more than 60 locations worldwide, Plug and Play connects startups with corporations and investors, helping accelerate business development and technological innovation.
Invest Cyprus chief executive Marios Tannousis described the development as a meaningful step forward, noting that it strengthens the country’s innovation ecosystem and demonstrates its ability to attract organisations of international standing with a tangible economic impact.
According to Invest Cyprus, the organisation’s presence is expected to create new opportunities for startups, research bodies and investors, while also contributing to the attraction of investment and skilled talent.
The move is also seen as reinforcing Cyprus’ role on the global innovation map, as the country seeks to expand its footprint in the technology and startup sectors.
Source: CNA