Antonis Polemitis: TechIsland’s vision to shape Cyprus into a global hub is becoming a measurable reality

Representing the TechIsland Board to welcome audiences to the TechIsland Summit in Limassol, Board Member and CEO, University of Nicosia, Antonis Polemitis, noted that their presence was a strong testament to the momentum built together over the past few years.

“As we step into another pivotal year, I’m proud to say that TechIsland now represents over 350 member companies, encompassing the full spectrum of technology and innovation: from software and fintech, to cleantech, medtech, edtech, gaming, AI, and beyond. What unites us all is a shared vision to shape Cyprus into a global hub for technology, talent, and forward-thinking entrepreneurship. This vision is not just aspirational—it’s becoming measurable reality,” Polemitis said.

As Polemitis went on to underline, according to new data by KPMG, being presented later during the Summit, the total economic impact of the tech sector in Cyprus has reached an impressive €8.5 billion. This includes a direct and indirect contribution of €4.7 billion, which now represents 16% of our country’s Gross Value Added (GVA), and a further €3.7 billion in indirect impact. “These figures reflect not just growth, but transformation,” he said.

He also talked about how a brain gain was currently underway than opposed to a brain drain experienced until now. Polemitis noted that TechIsland would continue to work alongside the state and private stakeholders that were also working towards this goal.

Polemitis, among other things, also underlined the huge importance of AI and its crucial role in impacting all aspects of the physical world, something he anticipated would be happening faster than initially anticipated and that this was the time to prepare for the benefits and challenges of all this.

In his address, Polemitis also noted, “Cyprus is no longer a peripheral player in the European tech landscape. We are a growing force, with one of the highest technology sector growth rates in Europe over the past decade. And we have done this together—through collective commitment, talent, and the courage to believe in a different economic model.”

He noted that, “Just a few years ago, many of our brightest young minds left Cyprus in search of opportunity abroad. Today, those opportunities are right here on our island. Cyprus is now a place where you can work, live, and innovate. A place where ambition meets infrastructure, where lifestyle and purpose go hand in hand, and where private sector dynamism collaborates meaningfully with public sector leadership.”

“At TechIsland,” Polemitis continued, “our mission has always been to bring people together—to unify the tech community, engage constructively with the government, and align with academia, investors, and civil society. We believe in a new model of public-private collaboration: one that goes beyond rhetoric and delivers real results. And that’s exactly what we are here to discuss today.”

This year’s Summit, he continued, “focuses on how we can leverage the opportunities created through the rise of tech in Cyprus to redefine the local economy. The stakes are high, but so is the potential. This is our moment to design the future we want for Cyprus.”

“As we begin today’s conversations, I encourage everyone to listen actively, challenge ideas constructively, and collaborate boldly. The Summit is not just a platform for sharing—it’s a springboard for action,” he concluded, before thanking the Summit’s speakers and TechIsland board members and team.