At the Startup Ecosystem Awards 2025, organized by StartupBlink, Cyprus has made a powerful statement on the global stage. The country’s startup ecosystem has seen an impressive surge, securing the prestigious “Best Worldwide Climb in the Top 50” award. This milestone underscores Cyprus’ rapid progress and its growing role as a key player in the international innovation landscape.
A Nine-Spot Leap: Cyprus Shines Among The Top 50
In 2024, Cyprus achieved the largest improvement of any nation in the top 50 startup ecosystems worldwide, advancing by a remarkable nine spots. This climb is no small feat, particularly in a fiercely competitive global startup environment. The award, part of the Startup Ecosystem Awards 2025, recognizes the achievements of ecosystems based on StartupBlink’s comprehensive ranking system, which evaluates cities and countries on over 40 indicators related to innovation, startups, funding, and ecosystem infrastructure.
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The StartupBlink Ecosystem Award: A Thorough Evaluation
The StartupBlink Ecosystem Award is not handed out lightly. It is based on a robust algorithm that evaluates startup ecosystems worldwide, assessing various parameters, from the flow of funding to the effectiveness of local infrastructure in supporting entrepreneurship. This year’s rankings considered data from more than 1,000 cities and 100 countries, providing a well-rounded perspective on global startup health.
Cyprus’ meteoric rise in the rankings is a clear reflection of the country’s evolving commitment to fostering an innovative and supportive environment for startups. The fact that it achieved the most significant upward movement within the top 50 is a testament to the strategic initiatives Cyprus has implemented to fuel its entrepreneurial ecosystem.
Cyprus: A Hub for Innovation And Entrepreneurship
The award speaks volumes about the efforts of Cyprus’ Research and Innovation Foundation (RIF) and other key stakeholders in the country’s startup landscape. According to Theodoros Loukaidis, the Director General of RIF, the award is a recognition of the nation’s dedicated focus on research, innovation, and entrepreneurship.
“Cyprus has made impressive progress in recent years,” Loukaidis said after receiving the award. “We are working to further strengthen our position as a regional hub for research, innovation, entrepreneurship, and technology. Cyprus offers access to high-growth markets and serves as a gateway to Europe.”
Loukaidis went on to highlight the country’s proactive approach in nurturing startups, which includes offering targeted funding programs, tax incentives, and initiatives aimed at attracting top talent from around the world. These efforts aim to position Cyprus as a prime location for startups looking to expand regionally and globally.
“We are committed to supporting startups and scaleups in their growth and global expansion, providing them with the necessary financial support and a favorable framework for success,” Loukaidis added.
A Vision For The Future: Cyprus’ Continued Growth
As the global startup ecosystem continues to evolve, Cyprus is on track to solidify its position as a leading player in innovation. With its strategic geographic location, robust infrastructure, and a government committed to fostering a dynamic business environment, Cyprus is poised to become a hub for international startups looking to access European markets and beyond.
This recognition at the Startup Ecosystem Awards is just the beginning for Cyprus. With continued investment in innovation, education, and a supportive regulatory environment, Cyprus’ startup ecosystem is set to climb even higher in the global rankings in future years.
