"Cyprus is determined to secure that innovation will produce tangible benefits for citizens and businesses," President, Nikos Christodoulides, said in a written statement, on the occasion of the Plug and Play launch event on Tuesday, at the Presidential Palace, in Nicosia.
The President noted that the goal of the collaboration with this platform is to connect Cypriot startups and businesses with international networks. He also recalled that this initiative is the result of his contacts in the USA back in April 2025, which "highlighted the importance of cooperating with top international leaders of the industry and key partners."
"Plug and Play Tech Center is a global innovation platform with a strong international presence and proven experience in connecting startups, companies and investors in different markets," President Christodoulides said, adding that the platform's establishment in Cyprus "constitutes a vote of confidence in our country and reflects the joint commitment of the public and private sectors to invest in innovation with a substantial economic impact."
"Through this collaboration, we seek to connect Cypriot startups and researchers with international networks, know-how and markets, as well as to ensure tangible results: the creation of internationally competitive businesses, the strengthening of innovative activity and the creation of quality jobs for the citizens of Cyprus," President Christodoulides concluded.
According to a Presidency press release, admissions to the first cycle of the program are open until mid-May and they can be submitted through https://www.plugandplaytechcenter.com/innovation-services/our-programs/cyprus-accelerator-program.
The first cycle will take place around the end of May, will last three months and will include the participation of ten startups. In total, six cycles of incubator and accelerator programs will be implemented, to support approximately 60 startups and innovative businesses in cutting-edge sectors.
Approximately 500 new job vacancies are expected to be created through this process, it said.
(Source: CNA)
