Nicosia, Cyprus. Cyprus is seeing two global startup platforms establish a presence on the island, targeting different stages of company development and indicating a shift in how the local ecosystem operates.
Plug and Play launches innovation centre in Nicosia
In April, Plug and Play Tech Centre launched its Cyprus Innovation Centre in Nicosia. The platform plans to run multiple acceleration rounds and support around 60 startups, with an estimated 500 jobs created over time.
Founder Institute begins Cyprus rollout
Founder Institute began its Cyprus rollout earlier this year. Its first cohort includes more than 20 founders starting the program in April, focusing on company formation and early validation.
Building a full startup lifecycle in Cyprus
The two launches are presented as part of a broader repositioning of Cyprus as a regional technology and innovation hub and gateway to Europe, the Middle East and Africa.
For years, Cyprus has produced talent and early-stage ideas, but lacked structure across the full startup lifecycle. The new programs aim to address that gap.
Founder Institute operates at the earliest stage, aiming to help individuals move from idea to company through structure, mentorship and accountability, and to increase the number of founders entering the pipeline.
Plug and Play operates at a later stage, connecting startups to corporates, investors and international markets, with a focus on scaling, partnerships and access to capital.
Global footprint and past portfolio
Founder Institute operates in more than 200 cities in more than 100 counties, with Udemi cited as its most prominent graduate. Plug and Play operates in more than 60 locations globally and has backed companies such as PayPal and Dropbox.
How will the addition of early-stage and scaling programs affect startup formation and growth in Cyprus?
