Limassol:The Cypriot innovation ecosystem is set to enter a new phase of development, as stated by Deputy Minister to the President Irene Piki. This new phase will focus on internationalization, the growth of Cypriot businesses, and enhancing their connectivity with global markets and investment networks.

According to Cyprus News Agency, Piki made these remarks while addressing the first Plug and Play Cyprus Expo held in Limassol on behalf of the President of the Republic. She highlighted that Cyprus has been recognized for recording the highest growth rate of the startup ecosystem within the European Union for the third consecutive year, according to StartupBlink's Global Startup Ecosystem Index 2026.

Piki noted that Cyprus's innovation ecosystem has shown increased dynamism and extroversion in recent years, with more innovative businesses, heightened investment activity, and stronger ties between research, entrepreneurship, and industry. She also recalled a meeting between President Nikos Christodoulides and Plug and Play CEO Saeed Amidi during a visit to the United States in April 2025, which resulted in cooperation and the initiation of Plug and Play activities in Cyprus.

The Deputy Minister emphasized the government's commitment to investing in research excellence, the commercial application of research, supporting innovative businesses, and attracting investments and specialized human resources. She mentioned the 'Minds in Cyprus' initiative as part of efforts to reconnect Cypriot professionals abroad with opportunities at home.

Lastly, Piki pointed out that President Christodoulides' upcoming visit to the US in November is aimed at strengthening collaborations with international technology and innovation centers to attract productive investments, know-how, and create quality jobs.