Aiming to foster a vibrant and sustainable tech community that contributes to Cyprus's economic growth and job creation, Invest Cyprus, the national body responsible for attracting foreign investment, and TechIsland, the largest tech association in Cyprus, announced the signing of a Memorandum of Understanding (MoU).

According to a press release, through this collaboration, the two organizations will pursue ongoing information exchange, joint research, and industry studies, while supporting each other in organizing conferences, business meetings, and events focused on innovation and sector development.

It is added that “they will also coordinate efforts to address regulatory and procedural challenges to create a more welcoming business climate for current and prospective international technology companies looking to expand or relocate to Cyprus”.

Chairman of Invest Cyprus, Evgenios Evgeniou, commented, that “Cyprus is establishing itself, steadily but surely, as a tech hub. Today’s Memorandum of Understanding (MoU) represents an important step towards our collective vision to further enhance the technology sector by identifying synergies and exploring new avenues for innovation and growth, which will strengthen the position of Cyprus as a premier destination for businesses, investments, and talent in emerging technology niches.”

It is also stated that on behalf of TechIsland, Chairman of the Board, Valentinos Polykarpou, said that “this partnership underscores TechIsland’s deep commitment to advancing the technology sector in Cyprus. Together with Invest Cyprus, we aim to create an environment conducive to innovation and entrepreneurship, attracting and retaining skilled talent and strategic investments. This partnership will lay the foundation for a technology-driven, resilient economy by creating an environment that fosters both growth and global competitiveness for tech enterprises in Cyprus.”