Cyprus’ largest tech association, TechIsland, successfully hosted the TechIsland Summit 2025 in Limassol, its flagship annual gathering and a key stage of this year’s Reflect Festival.

Bringing together leading figures from across the public and private sectors, the Summit provided a platform for dialogue around the country’s fast-growing digital economy, its challenges, and its international reach.

The central theme, ‘Unlocking Opportunities’, reflected the sector’s accelerating role in reshaping Cyprus’ economic landscape.

According to a presentation by KPMG, the total contribution of the tech sector to Cyprus’ economy is now estimated at €8.5 billion, accounting for 16 per cent of national Gross Value Added.

“The TechIsland Summit 2025 was once again a strategic gathering of all stakeholders,” said Chairperson Valentinos Polykarpou.

“It was amazing to see, in numbers, the progress and growth of the tech sector. With tech contributing 16 per cent to the national economy, it’s clear we’ve built significant momentum over the past few years.”

He added that this only confirmed “the immense potential for a tech-driven economy in Cyprus,” and noted that the event stands “as a testament to what can be achieved when public and private sector stakeholders work in alignment – finding solutions, discussing the future, and collaborating for the benefit of the country as a whole.”

Held on the TechIsland Stage of Reflect Festival, the Summit featured keynote speeches and panel discussions from across the tech and innovation spectrum.

Among the speakers were Minister of Interior Constantinos Ioannou, Deputy Minister to the President Irene Piki, Deputy Minister of Innovation Nicodemos Damianou, MP Nicholas Papadopoulos, and Chief Scientist Demetris Skourides.

Natasa Pilidou, former Minister of Energy, Commerce and Industry and current CEO of Med Energywise, served as this year’s Chairperson.

One of the key policy presentations focused on the government’s strategy to reverse the brain drain, including a series of proposed employer incentives aimed at attracting highly skilled Cypriots back to the island.

Another discussion addressed the possible introduction of VAT reductions as a way to incentivise the construction of buildings for social use – such as schools, hospitals, museums and sports facilities.

The startup ecosystem also came under the spotlight, with a dedicated panel offering perspectives on how to strengthen Cyprus’ role as a launchpad for innovation.

Speakers emphasised that, despite its small size, the island offers the right conditions to serve as an ideal testing ground for scaling into larger markets.

Chief Scientist Demetris Skourides delivered a forward-looking address, laying out an ambitious national roadmap for artificial intelligence, data infrastructure, and broader technological transformation.

Supporting early-stage companies was another core theme. TechIsland General Manager Tanya Romanyukha, joined on stage by Yioulika Antoniades, Systems Deployment Lead at Capacitor Partners, presented The Mentors’ Hub — a new initiative designed to provide curated one-on-one mentoring sessions for startups with experienced industry leaders.

As part of the broader programme, Polykarpou and Romanyukha held a high-level meeting with a delegation from Dubai Silicon Oasis, the UAE’s largest economic free zone, led by Director General Juma Al Matrooshi.

The two sides explored the prospect of signing a Memorandum of Understanding aimed at establishing a strategic collaboration on knowledge exchange, data sharing and joint innovation experiences.

“By aligning with a world-leading innovation hub, we can accelerate growth, bring new opportunities to Cyprus, and ensure our tech sector remains competitive and forward-looking,” said Polykarpou after the meeting.

The TechIsland Summit 2025 was supported by Lanitis Group (Bronze Sponsor), Capacitor Partners (Mentors’ Hub Partner), Memento (AI Photo Platform Sponsor), SWAG42 (Merch Partner) and KEAN Soft Drinks (Beverages Partner).