Cyprus is now a big place for technology. Many companies put money there. The island's new businesses are known around the world. In 2024, these businesses got nearly $100 million. This means people believe in their work. Cyprus was known for money work before. Now, it is a place for new tech ideas.
The island is in the top 40 places for startups. It has grown the fastest in Europe for two years. A report shows Cyprus moved up five places. This is a big step for its place in the world. The number of new businesses grew by 71% last year. The work in startups grew by over 28%.
Many things help this growth. Money people from Silicon Valley look for new places. They want to invest away from big cities. Cyprus is good at AI, money tech, and games. The government also has good rules. These include good taxes and special help. So, it is a good place for new businesses.
Local groups also help this growth. The Cyprus Research and Innovation Foundation helps new ideas. The boss, Theodoros Loucaides, said new business people are brave. They want to build big companies from the start. Money firms also give money to good startups.
These changes mean Cyprus is now important for tech. Its good place and focus on new ideas help. This is a new time for Cyprus businesses. Companies in 2024 got $4.4 million on average. This shows the good quality of Cyprus businesses.