Cyprus ranks 40th worldwide, up 5 places from last year, in the StartupBlink Global Startup Ecosystem Index 2025.
According to an announcement by the Deputy Ministry of Research, Innovation and Digital Policy, Cyprus, “with a 28% growth rate, emerges for the second consecutive year as the fastest growing startup ecosystem in the European Union.”
According to the Report, Cyprus ranks second globally among countries with a population of less than 2 million, and fourth among countries in Southern Europe, while it records a 71% increase in the number of startups compared to 2024.
Cyprus is the only country with a population of less than 2 million that has four cities - Nicosia, Limassol, Larnaca and Paphos - listed in the global startup index, with all cities recording significant progress in the global ranking, the Deputy Ministry notes.
Momentum is recorded in specific sectors, with the country ranking second globally in the Gaming sector, third in Fintech in Southern Europe, and ninth in the EU in the Blockchain sector.
This rapid growth is attributed, according to the report, to both the geostrategic position of Cyprus and the targeted policies and incentives - particularly tax incentives - offered by the Cypriot Government to strengthen innovation and entrepreneurship, as well as to attract productive investments and talent.
According to the Deputy Ministry, this distinction was announced officially within the framework of the Reflect Festival 2025, where Deputy Minister of Research, Innovation and Digital Policy, Dr. Nicodemos Damianou, received, on behalf of the Cyprus President, a special plaque presented by the CEO of StartupBlink, Eli David Rokah.
Expressing his satisfaction with the results, the Deputy Minister, noted that they “reflect the dedication and commitment of the Cypriot Government to the continuous strengthening of Cyprus as a hub of innovation, technology and entrepreneurship, both regionally and internationally.”
Congratulating the entire ecosystem for its achievements, the Deputy Minister emphasised that “our goal is to effectively facilitate technology companies and innovative start-ups to grow, collaborate with the local ecosystem and successfully integrate into the global market, creating jobs and added value for the local economy and society.”
He said that, through targeted financial tools, support structures, a friendly business environment and a methodical digital transformation programme, “we are transforming the country into an attractive destination for investment and business activity, and building a more resilient and competitive economy, based on knowledge and technological development.”
CNA/TKE/EAN/EPH/2025
ENDS, CYPRUS NEWS AGENCY
