Limassol: Cyprus has made a significant mark on the global stage, achieving its highest ever ranking in the StartupBlink Global Startup Ecosystem report. For the first time, the Mediterranean nation ranks 40th worldwide, placing it among the fastest-growing startup ecosystems internationally.
According to Cyprus News Agency, the report highlights Limassol as a standout performer, climbing nine places to 230th in the global city rankings. This impressive growth positions Limassol as the fastest-growing city in Cyprus. The Research and Innovation Foundation (RIF) announced that Cyprus saw a five-place rise in the rankings since 2024, with an annual growth rate exceeding 28%. This accomplishment underscores Cyprus’ burgeoning reputation as a hub for innovation and entrepreneurial activity.
At the European level, Cyprus has climbed two places, now ranking among the top 25 countries on the continent for startups. This upward trajectory marks the second consecutive year of the country’s notable improvement among EU member states. The report reveals a 71% increase in the number of startups since 2024, securing Cyprus the 2nd spot worldwide for countries with populations under 2 million. Cyprus is also the only country with four cities featured in the index-Limassol, Nicosia, Larnaca, and Paphos-while achieving commendable rankings in Southern Europe and globally in sectors like gaming, fintech, and blockchain.
Limassol’s growth rate surpasses 26%, earning it the 12th position in Southern Europe, nearly catching up with the city ranked 11th. The RIF press release emphasizes its pivotal role in fostering the country’s innovation landscape through targeted financial tools and programs that bolster technological development.
Theodoros Loukaidies, RIF General Manager, addressed the global presentation of the report, highlighting Cyprus’ strategic advancements and the robust framework supporting the startup ecosystem. He emphasized that this year’s achievements are a testament to the country’s strategic investments in policies, financial tools, and services that enhance innovation and entrepreneurial ventures.