The Research and Innovation Foundation (RIF) has revisited Cyprus’ performance in the 2024 StartupBlink Ecosystem Index, highlighting the country’s growth in the global startup landscape. The announcement was prompted by a recent feature by StartupBlink, which showcased Cyprus’ achievements—part of its ongoing series highlighting startup ecosystems worldwide.

In last year’s StartupBlink Index, Cyprus recorded the largest global ranking increase, climbing nine spots and securing the title of the fastest-growing startup ecosystem in the European Union.

>>Cyprus Climbs Nine Spots in Global Startup Ecosystem Index<<

Key accomplishments include:

• 4th globally among countries with a population under 2 million

• 6th worldwide in the number of startup exits below $1 billion

• 9th globally in the number of investors per capita

Additionally, Cyprus now has five times more startups than in 2020 and remains the only country with a population under 2 million to have four cities listed in the global startup index.

Beyond general startup growth, Cyprus has demonstrated sector-specific strengths, ranking 39th worldwide in fintech and 25th in gaming. Notably, Limassol leads the gaming sector in Southern Europe, further cementing the country’s position as a regional innovation hub.