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Plug and Play innovation platform launches in Limassol
Plug and Play reckons that founder-friendly tax incentives and streamlined startup visa programmes make it an attractive base for globally mobile entrepreneurs.
At a glance
Who: Republic of Cyprus; Cyprus Deputy Ministry of Research, Innovation and Digital Policy; Research & Innovation Foundation (RIF); Asbis; Tototheo; Mastercard; EcomMBX.
What: The innovation platform and venture capital firm Plug and Play is launching a start-up accelerator in Limassol, Cyprus.
Why: To support Cyprus-based startups in growing and scaling globally by providing mentorship, corporate connections, and investment opportunities.
When: Applications for the first batch are open to Cyprus-based startups until mid-May. After a selection process, 10 startups will be selected for the first batch, which will run from late May through September.
The innovation platform and venture capital firm Plug and Play is launching a start-up accelerator 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.
Targeted government initiatives
Cyprus is emerging as a leading European startup hub, supported by its strategic geographic location and targeted government initiatives. Plug and Play reckons that founder-friendly tax incentives and streamlined startup visa programmes make it an attractive base for globally mobile entrepreneurs.
Headquartered in Silicon Valley and operating in some 60 locations worldwide, Plug and Play has a presence across more than 25 industries, including fintech, energy, and smart cities and aims to connect local ecosystems with international markets. By bringing its model of corporate innovation, startup acceleration, and venture capital to Cyprus, Plug and Play claims it will connect the island’s fastest-growing startups with its network of more than 550 corporate partners and more than 100,000 startups, supporting their global expansion.
“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”
“Cyprus has everything it needs to become a strong innovation hub,” said Saeed Amidi, founder and CEO of Plug and Play. “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.”
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The accelerator claims it is designed to support Cyprus-based startups in growing and scaling globally by providing mentorship, corporate connections, and investment opportunities. The three-month programme will focus on high-growth verticals, including fintech and regtech, gaming, social and leisure, and shipping and energy.
“Cyprus is determined to see innovation deliver real benefits for people and businesses,” said Nikos Christodoulides, president of the Republic of Cyprus. “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 US in April 2025, which highlighted the importance of partnering with premier global industry leaders and corporate stakeholders.”
“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”
Christodoulides continued: “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.”
Applications for the first batch are open to Cyprus-based startups until mid-May. After a selection process, 10 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.
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