Limassol hosts Reflect Festival with 10,000 attendees and 250 investors

The government of Cyprus does not wish to stand in the way but rather be part of the journey of innovation and technology, according to president Nikos Christodoulides.

The president addressed the audience at this year’s Reflect Festival through a recorded message, played during the opening ceremony, where he underlined the government’s support for entrepreneurship.

The two-day festival began on Thursday morning in Limassol, attracting a crowd of 10,000 participants, including more than 250 investors and an equal number of speakers from various countries.

In his message, president Christodoulides described the festival as a point of reference for innovation and technology, not only in Cyprus but across the broader region, and said that Limassol serves as a prime example of a city experiencing growth in this sector.

He stated that Cyprus has taken bold steps to reposition itself on the global innovation map.

“These efforts are supported by a targeted and systematic strategy, based on the vision of our government for a diversified knowledge-based economy,” he said.

He added that it is “an economy that capitalises on the country’s human capital, its openness and connectivity with the rest of the world.”

Christodoulides mentioned that he personally champions Cyprus’ title as an emerging hub for technology and innovation, from Silicon Valley and New York to London, which he is set to visit later this month.

In addition, he said that he was encouraged by the response he received during his meetings in the United States, acting “as an ambassador for the Cypriot tech community”.

He added that these contacts have laid the groundwork for further dialogue and exploratory engagements.

Moreover, the president said that Cyprus has made substantial progress in this field and now, beyond offering a favourable climate and good quality of life, it also provides a multilingual, highly skilled workforce, a dynamic startup culture, competitive access to European markets, and “a government that listens and acts swiftly.”

Christodoulides also reiterated the government’s commitment to removing obstacles for businesses, reducing bureaucracy, and maintaining a secure regulatory environment.

He also conveyed a desire to strengthen the “already attractive framework for intellectual property development and research and development activity”.

The president underlined that Cyprus benefits from a strong and steadily growing economy, which has been consistently upgraded over the past two years by international rating agencies, and “has solid foundations and long-term growth prospects, which are among the highest in the EU.”

He pointed out that through startups and companies expanding in international markets, Limassol today serves as a magnet “for those building the future.”

The president added that the state encourages further collaboration between Cypriot and international technology firms, enabling them to “unlock the potential of this ecosystem.”

“Our government has received the message,” he continued. “We do not want to obstruct; we want to be part of this journey.”

He added that this is why he supports the Reflect Festival as a realistic, strategic platform for integrating Cyprus into the global tech dialogue.

Christodoulides concluded by saying that “no government can build such an ecosystem on its own, but it can support and empower it because the real work, the development of ideas, the solving of problems, comes from you, the innovators”.