State aid approved for Plug and Play Cyprus Innovation Centre

On April 9, 2026, State Aid Commissioner Stella Michaelidou approved a grant measure to support the operational costs of the Plug and Play Cyprus Innovation Centre. The funding covers expenses such as staff salaries, administrative costs, promotional activities, and the purchase of services from mentors and experts. The Research and Innovation Foundation (RIF) has been appointed as the competent authority for the implementation of the funding agreement. This measure is intended to help establish Cyprus as a key innovation hub in the Eastern Mediterranean. The support is structured around three primary service pillars: business acceleration programs, corporate innovation services, and services for research organizations. These funds are provided as direct grants aimed at fostering collaboration and information exchange. The grant also facilitates the delivery of specialized business support and seeks to increase the participation of new organizations in the center's activities.