Silicon Valley innovation giant Plug and Play Tech Center will officially launch its Cyprus Innovation Centre at the Presidential Palace on 7 April 2026, Government Spokesperson Konstantinos Letymbiotis announced, describing the development as a significant milestone for Cyprus’s position as a competitive regional hub.
Plug and Play, which has a presence in more than 60 locations worldwide and was involved in the early development of companies including PayPal and Dropbox, will run six cycles of incubator and accelerator programmes expected to support around 60 startups. The Centre will provide services to businesses and research organisations, with Cyprus gaining access to investment capital, expertise and international markets. In the medium term, around 500 new jobs are expected to be created and Cyprus’s links to international investment networks strengthened.
Letymbiotis said the development was the direct result of targeted economic diplomacy, including President Christodoulides’s visit to Silicon Valley in May 2025, and demonstrated that Cyprus’s outward-looking strategy can deliver concrete results.
On the Kronos natural gas field in Cyprus’s Exclusive Economic Zone, Letymbiotis said timelines for the investment plan had not changed and that discussions and negotiations were continuing. He noted that such agreements are complex, involving legal and technical parameters, and pointed to the recently signed agreement between Cyprus and Egypt as context.
On tourism, the Spokesperson said most airlines’ flight programmes had returned to full operation and that new flights to and from Cyprus had been announced. Conditions are gradually improving, he said, with continuous assessment under way in cooperation with hotel industry bodies. The government is in full readiness for the tourist season and is actively projecting an image of normality and stability internationally, supported by major events with international participation. Close coordination and monitoring of regional tensions — including the Iran situation — is continuing, with the government working through various scenarios as the situation develops.
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