Cyprus: an Emerging Startup Ecosystem at Crossroads Between Europe, Africa and Asia

Cyprus: an emerging startup ecosystem at crossroads between Europe, Africa and Asia

Cyprus, the third-largest island in the Mediterranean Sea, is located at the eastern end of Europe, at the heart of the busy shipping and air routes that connect Europe, Africa, and the Middle East and Asia. This unique location has made Cyprus a strategic business centre which plays a significant role in regional geopolitics and trade relations.

Cyprus is a developing innovation and entrepreneurial hub, and numerous organizations work together to offer constant innovation and entrepreneurship events, collaborations and discussions.

Cyprus: an Emerging Startup Ecosystem

Cyprus has become a promising player in the startup environment in recent years. A new startup culture is being actively encouraged to emerge on the island, by the government. At the same time, funding for startups has steadily increased in recent years, and the ecosystem in the area has a bright future. In 2021, Cyprus broke records with €85.5 million raised by startups. In 2022, the nation counted over 446 startups and scaleups, with a combined value of €3.7 billion.

Cyprus has all the elements necessary to facilitate the success of your technology-based business, whether you want to launch a new firm, relocate your existing business, or find a gateway to Europe, the Middle East, and Africa.

Cyprus has established itself as a destination of choice for doing business by using its competitive advantages, promoting and expanding both traditional and new economic sectors, and consistently improving and enhancing its business environment.

With a modern, free-market, service-based economy and an efficient, transparent regulatory, tax and legal framework, Cyprus offers both domestic and foreign investors the assurance they need to invest in, expand, and succeed. It strives systematically and consistently to provide a creative, diverse, and welcoming environment for investors. This is accomplished by offering various tax incentives for investment and innovation, by providing start-up visa and several funding opportunities

Shanda Consult advises and serves companies and individuals in almost all matters of business setup, from entrepreneurial small companies to industrial establishments. 

Feel encouraged to contact us for a first complimentary meeting (face-to-face in Cyprus or on Zoom) and get a first impression of our professional approach.