Cyprus features on the 34th place globally, up 6 places from last year and is the country with the highest climb for the third consecutive year.
The ecosystem has registered a 62.7% annual growth while the report places a value of USD 4.2Billion on the ecosystem.
All four cities feature in the global Top 1000 cities ranking, with Limassol being the first Cyprus city to make it into the Top 200 cities ranking, at 191.
Cyprus's strongest startup category is Social & Leisure, where it ranks 26th globally. It includes gaming, social platforms and communities, entertainment, fitness and wellness, dating, travel and cultural experiences, recreation, marketplaces, etc. Cyprus ranks 16th globally in the Gaming sub-category.
The report concludes that if Cyprus maintains its excellent business environment, it has a credible path to becoming a significant player in the broader European innovation scene.
