Global Innovation Platform Plug and Play Launches First Startup Accelerator in Cyprus
NICOSIA, Cyprus, April 7, 2026 /PRNewswire/ -- Plug and Play, the world's largest innovation platform and venture capital firm, today 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.
"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.
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.
Applications for the first batch are open to Cyprus-based startups until mid-May.
For more information and to apply, visit the website.
About Plug and Play
Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're in 60+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies, including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi.
For more information, visit pnptc.com.
About Deputy Ministry for Research, Innovation and Digital Policy
The Deputy Ministry of Research, Innovation and Digital Policy, established in 2020, has a horizontal responsibility over the design and implementation of national policy and strategy in the digital, cybersecurity, space and research and innovation domains. These areas are critical for strengthening competitiveness and resilience, supporting the transition to a modern, knowledge-based economy.
About Research and Innovation Foundation
The Research and Innovation Foundation (RIF) is the executive arm of the Government of Cyprus for Research, Technological Development and Innovation. Through its funding instruments and services the RIF supports cutting edge research, technological development and innovation in Cyprus and it facilitates the commercialization of novel products, processes and services across all sectors. By empowering local researchers, entrepreneurs, research organizations, companies of every size as well as innovation support actors and investors, the RIF is building a dynamic national research and innovation ecosystem.
About ASBIS
ASBISc Enterprises PLC is a leading IT and technology distributor in the EMEA region, headquartered in Cyprus, with over 34 subsidiaries and operations in more than 60 countries. Established in 1990, the company provides IT components, consumer electronics, robotics, and advanced technology solutions. ASBIS partners with more than 250 global vendors and serves over 20,000 customers. With revenues approaching USD 4 billion, ASBIS remains one of the strongest technology providers in emerging markets.
About Tototheo Global
Tototheo Global is a global technology and connectivity integrator specialising in satellite communications and digital infrastructure across maritime, enterprise and government sectors. With over four decades of experience, the company delivers resilient, multi-network connectivity solutions that enable organisations to operate safely, efficiently and in real time across complex and remote environments. Headquartered in Cyprus, with office locations in key international markets and teams spanning 15 countries, Tototheo Global supports customers globally while playing an active role in shaping the next generation of digital infrastructure, where satellite communications are becoming a foundational layer for critical industries.
For more information, visit www.tototheo.com
About EcommBx
Licensed in 2017 and headquartered in Nicosia, ECOMMBX is an Electronic Money Institution regulated by the Central Bank of Cyprus and a Principal Member of Visa and Mastercard. ECOMMBX makes global transactions simpler, faster, and more cost-efficient for both individuals and businesses. Through its ECOMMVERSE platform, it brings together account management, cross-border payments, cards, POS, acquiring, and multi currency conversions into one powerful ecosystem, offering a true one-stop solution. This journey is driven by a strong network of global partners and a clear focus on delivering value to its customers, as it continues to expand beyond the Mediterranean region.
For more information, visit https://www.ecommbanx.com/ or info@ecommbx.com
Plug and Play Media Contact
Jacky Tsang
Senior Communications & PR Associate
SOURCE Plug and Play
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