Cyprus ranks 40th worldwide for the first time and it is placed among the fastest growing startup ecosystems internationally, according to an official publication by StartupBlink Global Startup Ecosystem.
At the same time, the city of Limassol, on the southern coast, emerges as the fastest growing Cypriot city, climbing 9 places in the global ranking (230th).
A press release circulated by the Research and Innovation Foundation says that the 40th place is the the highest ranking the country has ever achieved, with a rise of five places since 2024 and annual growth of over 28%, which places it among the fastest growing startup ecosystems internationally.
Cyprus’ progress is also reflected at the European level, as the country climbed two places and is now among the top 25 countries in Europe. The press release by RIF says that Cyprus has, for the second consecutive year,recorded the greatest improvement among EU member states.
It is noted that the report clearly reflects the transformation of the Cypriot startup ecosystem, recording a 71% increase in the number of startups since 2024, 2nd place worldwide among countries with a population of under 2 million, and the only country with four cities in the index (Limassol, Nicosia, Larnaca, Paphos), 4th place in Southern Europe, 2nd worldwide in the gaming sector, 3rd in fintech in Southern Europe and 9th in blockchain within the EU.
As regards Limassol, it is stressed that with a growth rate of over 26%, the highest in the country, the city rises to 12th place in Southern Europe, coming very close to the 11th ranked city.
The press release also notes the catalytic role of RIF in issues related to domestic innovation ecosystem through targeted financial tools and programs to support technological development and innovation.
RIF General Manager, Theodoros Loukaidies was among the key speakers at the global presentation of the report, where he spoke about the progress, strategies and dynamics of the Cypriot ecosystem.
He noted that this year’s distinction is a strong proof that Cyprus is moving forward consistently, strategically investing in policies, financial tools and services that strengthen innovation and support new entrepreneurship.
