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Turn an Island into Your Launchpad

Build in Cyprus and scale outward with pro-business regulation and global connectivity.

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Startups

428

Growth Rate

28.2%

Total Funding

$858.7M

Best Achievement of the Ecosystem

Global Rank Change

+5 Spots

Cyprus has the largest global climb among the EU countries for the second consecutive year.

Cyprus is proving that size is no barrier to ambition. In the StartupBlink Global Startup Ecosystem Index 2025, our startup ecosystem is showing continuous positive momentum, with both the country and all its cities rising. The Index is a testament to Cyprus’s rapid growth, the surge in the number of startups, and the increasing global impact of our ventures. Positioned as a regional hub for research, innovation, and technology, Cyprus is a gateway to Europe while offering access to high-growth markets in the Middle East and beyond.
Nikos Christodulides

Nikos Christodulides

President of the Republic of Cyprus

1 of 2

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Top Achievements of the Cyprus Startup Ecosystem

Rankings provided by

Among Countries with less than 2M People Rank

#2

Cyprus ranks 2nd worldwide among countries with populations under 2 million, and it is the only one in this range with such a plurality of cities.

Gaming Rank in Europe

#1

Cyprus records an outstanding performance in Gaming, ranking 2nd globally and leading European ecosystems.

Southern Europe Rank

#4

Cyprus holds the 4th position in Southern Europe for the second consecutive year, confirming its strong and stable regional presence.

Key Benefits of Joining Cyprus Startup Ecosystem

Strategic Gateway with EU Integrity

Cyprus offers a unique position at the crossroads of Europe, the Middle East, and Africa—providing startups with EU market access, regulatory reliability, and English-language business frameworks, alongside a tax structure that balances competitiveness with legal clarity.

Tangible Support & Growing Momentum

Local entrepreneurship support is gaining traction: a new €26 million VC fund (33East) is fueling pre-seed and seed-stage growth, while 85% of founders highlight the critical role of government-backed programs and community events in their success.

Incubators, Accelerators & R&D Access

Organizations like IDEA Innovation Center, Cyprus Seeds, Chrysalis LEAP, and CyRIC provide startups with capital, mentorship, specialized services, and access to sophisticated lab infrastructure—all enabling real-world application and scaling.

Key Statistics

Number of Startups

+71%

Since 2024

RIF has rolled out a

€41.15M

funding initiative

ICT Employees

3x

since 2015

Cyprus Ecosystem Landscape

Taxes and Incentives

Corporate Tax – Cyprus has one of the lowest corporate income tax rates in the EU at 12.5% (moving to 15% in 2026 to align with OECD rules), alongside double taxation treaties with more than 65 countries.

Startup Visa Scheme – Updated in 2025, it now offers longer residence permits, reduced capital requirements, and easier procedures for non-EU founders to establish companies.

Research & Innovation Foundation (RIF) – Provides a wide portfolio of grant schemes (Pre-Seed, Seed, Innovate, STEP, BOOST), offering startups funding from €10K innovation vouchers up to €1M equity co-investment.

Knowledge Transfer Support (CKTO) – Helps founders connect with universities and research centers for commercialization of R&D.

IP Box Regime – Reduced effective tax rates on income from intellectual property, making Cyprus attractive for startups developing software, gaming, and deep-tech IP.

Investor Landscape

Invest Cyprus – The country’s national investment promotion agency, connecting foreign investors, founders, and funds with opportunities in Cyprus and providing guidance on setup.

33East Fund – A new venture capital fund backed by the Cyprus Equity Fund, deploying €100K–€1M tickets at pre-seed and seed stage, with a mandate to make at least 12 investments within 18 months.

TechIsland & Reflect Festival – Platforms that bring together startups, investors, and global decision-makers, boosting visibility and deal flow for Cyprus-based ventures.

National & Regional Support Funds – RIF programs like BOOST (blended finance with grants + equity) and STEP (grant support for innovation-driven manufacturing) expand the pool of accessible startup capital.

Ecosystem Milestones

1996

Cyprus establishes the Research Promotion Foundation to support research, technology, and innovation.

Cyprus pilots a startup visa scheme to attract non-EU entrepreneurs.

2017
2018

The first Reflect Festival positions Cyprus as a rising MENA startup hub.

The Foundation becomes the Research and Innovation Foundation (RIF) and takes on innovation program design.

2019
2020

Cyprus sets up the Deputy Ministry for Research, Innovation and Digital Policy; RIF allocates first startup funding under Pre-Seed, Seed, and Innovate programs.

Tech Island launches with the mission to accelerate the Cyprus startup scene.

2021
2023

RIF opens its Central Knowledge Transfer Office and launches Disrupt, a blended finance program combining VC investments and grants.

Cyprus revamps its startup visa to better attract international talent.

2024
2025

Cyprus launches the 33East Equity Fund for investments up to €1M and pre-announces STEP, a €10M grant program for innovation-driven manufacturing.

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