Global Innovation Platform Plug and Play Launches First Startup Accelerator in Cyprus

Plug and Play, the world’s largest innovation platform and venture capital firm, announced its first location in Limassol, Cyprus. The initiative is co-funded by the Republic of Cyprus through the Cyprus Deputy Ministry of Research, Innovation and Digital Policy and the Research & Innovation Foundation (RIF) with support from corporations, ASBIS, Tototheo, Mastercard, and ECOMMBX.

Plug and Play’s entry into Cyprus marks a significant milestone for the Eastern Mediterranean technology ecosystem. Cyprus is rapidly emerging as a leading European startup hub, supported by its strategic geographic location and targeted government initiatives. Founder-friendly tax incentives and streamlined startup visa programs make it an attractive base for globally mobile entrepreneurs. Cyprus offers a stable operating environment within the European Union, supported by a strong professional services sector and a high quality of life.

Headquartered in Silicon Valley and operating in over 60 locations worldwide, Plug and Play is the world’s most active startup accelerator and a leading global innovation platform. With a presence across more than 25 industries, including fintech, energy, and smart cities, the firm connects local ecosystems with international markets. By bringing its model of corporate innovation, startup acceleration, and venture capital to Cyprus, Plug and Play will connect the island’s fastest-growing startups with its network of more than 550 corporate partners and over 100,000 startups, supporting their global expansion.

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“Cyprus has everything it needs to become a strong innovation hub. It has a well-educated population, a strategic location connecting Europe, the Middle East, and Africa, and a government that supports technology and growth. At Plug and Play, we have seen how ecosystems like this develop and succeed. We are excited to be in Cyprus and to work with founders, investors, and local partners to build companies, create jobs, and support long-term growth.”
— Saeed Amidi, Founder & CEO of Plug and Play

“Cyprus is determined to see innovation deliver real benefits for people and businesses. This is why we are supporting the launch of Plug and Play in Cyprus, as part of our broader effort to strengthen entrepreneurship, support companies grow and connect our ecosystem with international markets. The initiative follows the meetings I held in the United States in April 2025, which highlighted the importance of partnering with premier global industry leaders and corporate stakeholders.

Plug and Play is a global innovation platform with a strong international presence and a proven track record in connecting startups, corporates and investors across markets. Its establishment in Cyprus, co-funded together with leading corporate partners, is a vote of confidence for our country and reflects a shared commitment between the public and private sectors to invest in innovation with real economic impact.

Through this partnership, we aim to connect Cypriot startups and researchers with global networks, know-how and markets, and to ensure the centre delivers tangible outcomes: internationally competitive companies, stronger innovation pipelines, and quality jobs for the people of Cyprus.”
— Nikos Christodoulides, President of the Republic of Cyprus

The accelerator is designed to support Cyprus-based startups in growing and scaling globally by providing mentorship, corporate connections, and investment opportunities. The three-month program will focus on high-growth verticals, including fintech and regtech, gaming, social and leisure, and shipping and energy.

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The official launch event will take place on April 7th in Nicosia, followed by an open call for applications. After a selection process, ten startups will be selected for the first batch, which will run from late May through September.

Selected startups will gain access to industry experts, Plug and Play’s global network of partners, potential venture funding, introductions to international investors, as well as mentorship sessions and workshops covering fundraising, sales, and global expansion.