Oev and TechIsland sign memorandum to boost innovation in Cyprus

On September 18, 2026, the Cyprus Employers and Industrialists Federation (Oev) and the non-profit association TechIsland formally signed a memorandum of understanding to foster collaboration on technology, innovation, and entrepreneurship. The agreement establishes a structured framework for the two organizations to coordinate efforts and develop joint policy proposals aimed at improving Cyprus' business environment and economic growth.

Key areas of cooperation include the enhancement of the regulatory and tax framework, the development of physical and digital infrastructure, and the creation of more favorable conditions for attracting and retaining investment, businesses, and skilled labor. Furthermore, the partners intend to prioritize the strengthening of digital and technological skills among the workforce, including the reskilling of employees and a closer alignment between vocational training and current labor market needs.

This partnership follows a period of increased engagement by the technology sector in broader social and community initiatives, most notably TechIsland's €2 million 'Wildfire Initiative' launched in the summer of 2026. The memorandum serves as a strategic commitment to institutionalize the influence of technology organizations in shaping national policy and economic competitiveness moving forward.