The launch of Plug and Play Tech Centre’s operations in Cyprus – through the creation of an Innovation Centre and full support programmes for start‑ups – was announced on Tuesday by Government Spokesperson Konstantinos Letymbiotis.
Letymbiotis said the official launch will take place on 7 April 2026 at the Presidential Palace, “marking a development with substantial economic and developmental impact for our country”.
“Cyprus is being actively integrated into a global innovation ecosystem, gaining direct access to investment capital, know‑how, and international markets. New opportunities are being created for Cypriot companies to grow and expand internationally, while at the same time strengthening the potential for creating high‑quality jobs in highly specialised sectors,” he said.
500 new jobs to be created
He noted that the Plug and Play Cyprus Innovation Centre will act as a catalyst for the domestic ecosystem, providing services to businesses and research organisations. It will run six cycles of incubation and acceleration programmes, expected to support around 60 start‑ups and innovative companies in cutting‑edge fields.
In the medium term, he said, the project is expected to create around 500 new jobs and significantly strengthen Cyprus’s links with international investment networks.
“Plug and Play is one of the world’s leading innovation organisations, headquartered in Silicon Valley and active in more than 60 locations globally, connecting thousands of start‑ups, investors and large corporations into a single ecosystem.
“It has carried out thousands of investments and has contributed to the development of companies that today are global benchmarks, such as PayPal, Dropbox and other technology firms that went on to become international leaders. At the same time, it collaborates with hundreds of multinational companies and investment funds, acting as a bridge between innovation and the real economy,” said Letymbiotis.
The spokesperson underscored that the ultimate goal is clear: “Innovation must translate into real opportunities for citizens and businesses, strengthening Cyprus’s position as a modern, competitive and trustworthy innovation hub in the wider region.”
Source: CNA