Plug and Play launches innovation centre in Cyprus

On Tuesday, the Silicon Valley-based innovation platform Plug and Play officially launched its operations in Cyprus during an event at the presidential palace in Nicosia. The project, which follows negotiations initiated during President Nikos Christodoulides' visit to the United States in April 2025, aims to transform the country into a regional hub for technology and investment. The initiative plans to conduct six incubation and acceleration rounds, supporting approximately 60 start-ups and high-growth companies. Officials, including Deputy Minister to the President Irene Piki, stated that the program is expected to create 500 jobs in the medium term. The centre provides access to international markets, capital, and specialist know-how as part of a government strategy to diversify the economic model. While the government presents the move as a major milestone for international connectivity, local media has questioned whether such initiatives can secure long-term sustainable growth without further structural reforms. The centre is now part of a global network encompassing over 60 locations worldwide.