The Cypriot innovation ecosystem is entering a new phase of development, Deputy Minister to the President Irene Piki has said, adding that this focuses on internationalisation, the development of Cypriot businesses and the strengthening of their interconnection with international markets and investment networks.
Piki, who was addressing, on behalf of the President of the Republic, the first Plug and Play Cyprus Expo in Limassol, recalled that, according to StartupBlink’s Global Startup Ecosystem Index 2026, Cyprus recorded the highest growth rate of the startup ecosystem in the European Union for the third consecutive year.
According to an official press release, Piki noted that the innovation ecosystem of Cyprus has gained more dynamism and extroversion in recent years, with more innovative businesses, increased investment activity and stronger connections between research, entrepreneurship and industry.
She referred to the meeting of President of the Republic Nikos Christodoulides with founder and CEO of Plug and Play Saeed Amidi, during his visit to the United States in April 2025, saying that this meeting led to specific cooperation and the start of Plug and Play activities in Cyprus, highlighting the possibilities of converting international contacts into tangible results.
She underlined that the government is investing in research excellence, in the commercial exploitation of research, in the support of innovative businesses and in the attraction of investments and specialised human resources.
In this context, she referred to the “Minds in Cyprus” initiative, which aims to reconnect Cypriot professionals abroad with employment and business opportunities in Cyprus.
Finally, the Deputy Minister pointed out that President Christodoulides' visit in the US in November is part of the effort to strengthen collaborations with international technology and innovation centers, with the aim of attracting productive investments, know-how, and the creation of quality jobs.
The Deputy Minister praised the contribution of the Deputy Ministry of Research, Innovation and Digital Policy and the Research and Innovation Foundation in the implementation of the initiative, as well as the participation of Plug and Play and corporate partners ASBIS, Tototheo Maritime, Mastercard and ECOMMBX.
In closing, she called on the business world to adopt an extroverted approach, utilising Cyprus as a base for its international development.
"Think internationally from the start. Use Cyprus as a base for your growth, without letting the size of the domestic market limit your ambitions," was her final message.
