The Startup Ecosystem of Nicosia
Home to 42% of Cyprus’s startups, Nicosia has a vibrant startup ecosystem that is ranked 349 in the world.
CITY RANKING
In 2024, the startup scene of Nicosia developed considerably and increased in the Global Ecosystem Index by 46 spots.
National Ranking
In Cyprus
Regional Ranking
In Western Europe
Global Ranking
Worldwide
In partnership with
Ecosystem
Startup Ecosystem Overview
Startups
Nicosia Top Startup Industries
14 startups
15 startups
5 startups
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Ecosystem HealthCheck
Nicosia Ecosystem Health Check
The health check tables allow you to look at the performance Nicosia has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
- Overperformance
- Performance equal to global ranking
- Underperformance
ECOSYSTEM
Browse the startup ecosystem database of Nicosia
Startup Ecosystem Charts
Startup Funding in Nicosia2017 - 2024
Startup Funding in Nicosia 2017 - 2024
From 2022 to 2023, startup funding in Nicosia has decreased by 88.5%. During this period, the number of deals in Nicosia has decreased by 16.67%. Since 2017, total startup funding in Nicosia exceeded US$ $205.04M.
Average Funding in 2023
$293.00K
Funding in 2023
$2.93M
Deals in 2023
10
USD
Amount of Funding (USD)
Number of Deals
Ecosystem
The Startup Ecosystem in Nicosia
Global Rank
Nicosia is ranked within the top 400 startup ecosystems globally.
Top Industries
Nicosia’s startups excel particularly in Fintech where it ranks 168 and in Social & Leisure, and Marketing & Sales. Find out more
Top Cities for Startups in Cyprus - Ranked by StartupBlink
2024 National Rank  | City | Global Rank |  | | | |
|---|---|---|---|---|---|---|
1st + 1 | 239th + 192 | 1.857 | 00.00 | 00.00 | 00.00 | |
2nd - 1 | 349th + 46 | 1.033 | 00.00 | 00.00 | 00.00 | |
3rd + 1 | 851st new | 0.165 | 00.00 | 00.00 | 00.00 | |
4th - 1 | 944th - 130 | 0.133 | 00.00 | 00.00 | 00.00 |
ECOSYSTEM
Why should you join Nicosia's Startup Ecosystem?
Overview
Within Nicosia there is an increased attraction for entrepreneurs to set up their startups in industries such as Fintech, Social & Leisure, Marketing & Sales. These three industries represent about 25% of the startups represented on the Startup Ecosystem Map of Nicosia.
2nd
National Rank
105th
Regional Rank
Overview
Nicosia is Cyprus' 2nd best startup ecosystem and is ranked 105th in Western Europe. With a population of 0.1M - 0.5M people, Nicosia is ranked 349th in the world. The city has some notable startup success stories including CAPEX.com.
ECOSYSTEM
Startup Infrastructure in Nicosia
Accelerators
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Recent Posts
Mon Apr 14 2025
From Service-Based to Product-Based Economy – Lessons from North Macedonia
In this special episode of the Startup Ecosystem Podcast, we revisit a conversation from two years ago, recorded during a visit to North Macedonia. Eli David Rokah, CEO of StartupBlink, sits down with Igor Madjov, founder of Startup Macedonia, to explore how Skopje is evolving from a service-based IT outsourcing city into a product-driven startup […]
Wed Apr 02 2025
Corporate Startup Activity Index 2025
For the first time ever, 372 corporations across 30 countries, 11 major industries, and 10 sub-industries have been ranked based on how actively they engage with startups. StartupBlink’s Corporate Startup Activity Index is the world’s first benchmark for corporate startup engagement — powered by real data, global partnerships with top corporations, governments and data sources, […]
Thu Mar 06 2025
The Impact of Government Support on Startups
A robust startup ecosystem creates a sense of community that brings entrepreneurs together and helps them feel less isolated. It gives them access to mentors, advisors, fellow entrepreneurs, and talents. The foundation of such an ecosystem largely relies on government support. Good policies create a fair and supportive environment that helps startups grow. Bad policies […]