A major distinction for Cyprus in the StartupBlink Global Startup Ecosystem Index 2025, as the country has ranked 40th globally—rising five (5) positions from last year.
With a growth rate of 28%, Cyprus is recognised for the second year in a row as the fastest-growing startup ecosystem in the European Union (EU).
According to the report, Cyprus ranks second globally among countries with a population under 2 million, and fourth among Southern European countries, while recording a 71% increase in the number of startups compared to 2024.
It is worth noting that Cyprus is the only country with a population under 2 million that has four cities—Nicosia, Limassol, Larnaca, and Paphos—listed in the global startup index, with all four cities showing significant progress in global rankings.
Strong momentum recorded in key sectors
Significant momentum is being recorded in specific sectors, with Cyprus ranking 2nd globally in the Gaming sector, 3rd in Fintech in Southern Europe, and 9th in the EU in Blockchain, according to the report.
This rapid growth is attributed to both Cyprus’ geostrategic location and the targeted policies and incentives—particularly tax-related—offered by the Cypriot Government to foster innovation and entrepreneurship, as well as to attract productive investment and talent.
StartupBlink CEO Eli David Rokah presented a special plaque at an event recently, which was received on behalf of the President of the Republic by Dr Nicodemos Damianou, Deputy Minister of Research, Innovation, and Digital Policy.
Nicodemos Damianou: “Our goal is to meaningfully support technology companies and innovative startups to grow”
Expressing his satisfaction with the results, Damianou noted that they “reflect the dedication and commitment of the Cypriot Government to continuously strengthen Cyprus as a hub of innovation, technology, and entrepreneurship—both regionally and internationally”.
Congratulating the entire ecosystem for its achievements, the Deputy Minister added: “Our goal is to meaningfully support technology companies and innovative startups to grow, collaborate with the local ecosystem, and integrate successfully into the global market—creating jobs and added value for the country’s economy and society. Through targeted funding tools, support structures, a business-friendly environment, and a methodical digital transformation plan, we are turning the country into an attractive destination for investment and entrepreneurial activity, building a more resilient and competitive economy based on knowledge and technological advancement.”