Plug and Play launches innovation centre in Cyprus

On Tuesday, the innovation platform Plug and Play officially launched its operations in Cyprus during an event at the Presidential Palace in Nicosia. This initiative, resulting from diplomatic efforts following President Nikos Christodoulides' visit to the United States in April 2025, aims to connect local startups with international investment networks. The center will host six incubation and acceleration rounds, supporting approximately 60 startups in high-growth sectors. The first three-month program is currently accepting applications until mid-May. Key partners and investors in the center include ASBIS, Tototheo Maritime, Mastercard, and ECOMMBX. Government officials, including Deputy Minister to the President Irene Piki and Deputy Minister of Research, Innovation and Digital Policy Dr. Nikodemos Damianou, attended the event. The project is expected to create around 500 jobs in the medium term. While the government frames the initiative as a major boost for the economy and a sign of foreign investor confidence, some local media reports emphasize that long-term success depends on translating these partnerships into tangible business growth.