Cyprus Business Club: Driving Cyprus’ Transformation into a Global Innovation Hub through Unicorn Pitches Limassol

How Cyprus Business Club and Unicorn Pitches Limassol aim to elevate the island’s startup ecosystem and position Cyprus as a rising global innovation hub
In recent years, the Cyprus Business Club has become one of the island’s most influential business communities. In 2025, the club hosted over 100 business events, expanded its network to approximately 4,000 companies, and opened a representative office in New York. CBC continues to grow its presence both locally and internationally.
Today, CBC is a networking platform that shapes the entrepreneurial landscape of Cyprus, connects founders, investors, and industry leaders, and actively supports the island’s transition into a modern innovation hub. This year, CBC is an organiser of Unicorn Pitches Limassol, a major global startup competition that brings together investors and tech founders from around the world. We met with the two co-founders of the Cyprus Business Club Elena Stepanova and Tetyana Dyachenko, to discuss why this partnership matters, how the local tech ecosystem is evolving, and what the future holds for innovation on the island.
Why did the Cyprus Business Club decide to become a partner of Unicorn Pitches Limassol?
For over five years, Cyprus Business Club has united resident companies, driving industry-wide change on the island. Partnering with Unicorn.Events as global startup competitions, was a strategic decision aligned with the rapid growth of Cyprus’s tech sector. The island is now one of Europe’s fastest-growing tech hubs, hosting more than 1,400 international technology companies and an IT community exceeding 25,000 specialists, according to TechIsland and KPMG. This environment is ideal for global startup events.
Unicorn.Events, operating in 125 countries and having helped startups raise over $1 billion, is the world’s largest global pitch platform – and we saw a great opportunity to combine their international scale with the momentum happening in Cyprus. Our aim at CBC is to become a driving force that accelerates innovation on the island, strengthens the business community, and supports the emergence of startups that can compete globally.
How do you assess Cyprus’ current role in the global innovation ecosystem? Why is Cyprus the right place for this event?
Cyprus is becoming one of Europe’s fastest-growing tech hubs. The island ranks among the top 50 startup ecosystems worldwide (StartupBlink 2024). Technology now represents about 16% of the country’s GVA, and IT and business service exports exceed €4 billion. Cyprus offers everything needed to scale international tech projects. Strategic location, English-based legal system, attractive IP Box regime with an effective tax rate of about 2.5%, and steady inflow of global talent make it an ideal venue for Unicorn Pitches. A new entrepreneurial culture is emerging, and this event is accelerating that transformation.
You assembled a high-level international jury and speakers. How can they strengthen the startup environment in Cyprus?
Bringing in international investors together with local experts strengthens Cyprus on several levels. In our view, the island’s tech industry has already entered a phase of active growth. At this stage, global participation isn’t just beneficial – it’s essential for taking the ecosystem to the next level.
Experts from the EU, the US, and soon the Middle East, introduce new evaluation standards, strategic thinking, and expectations from leading innovation hubs such as London, Berlin, Tel Aviv, and Silicon Valley. This elevates the quality of local projects and raises the bar for ambition.
And finally, the presence of global funds boosts confidence in Cyprus as an innovation destination. The island starts to be seen not only as a comfortable business base, but as a source of promising tech talent and high-potential teams.
What goals did the Cyprus Business Club set when partnering with Unicorn.Events?
We had three key goals. First, to boost Cyprus’s global visibility as a place where innovation actually happens – not just a business-friendly island. The country is already ranked among the world’s top 50 ecosystems, and we want to accelerate that progress.
Second, to provide startups with genuine opportunities to enter international markets, including access to investors, experts, early validation, and feedback from global venture funds.
Third, to establish the foundation for our own acceleration initiatives, which Cyprus Business Club will launch in 2026. Unicorn Pitches is the first step in building a structured, long-term support system for startups within our organization.
How do you expect this event to influence Cyprus’ innovation ecosystem?
The impact will be visible on several levels. We’re already seeing growing international interest – and the 1,400 tech companies currently on the island are far from the limit. Unicorn Pitches Limassol, with investors coming from ten or more countries, will only strengthen this momentum.
We also expect partnerships to accelerate. Local startups and Cyprus Business Club members will gain access to venture funds, corporations, and industry experts, which will expedite the development of new projects and collaborations.
And there’s one more important shift – the rise of a new entrepreneurial mindset. When founders meet global investors, their ambitions change. Cyprus-based teams stop thinking locally and start thinking globally, building international companies while staying right here on the island.
What advantages does this event bring to the members of Cyprus Business Club?
For CBC members—including founders, investors, and corporate leaders—the main benefits are networking and positioning. They gain access to international deal flow, a unique advantage among local communities. CBC already unites many of Cyprus’s most active entrepreneurs, and this international event further expands the network with valuable new connections.
Participation in Unicorn Pitches and other CBC activities allows our members to increase their visibility, demonstrate their involvement in the island’s innovation ecosystem, and strengthen their business reputation.
Does Cyprus Business Club have a strategy to help local startups enter the global flow of Unicorn.Events?
Yes, this is one of our key priorities. Unicorn.Events provides a unique global infrastructure, connecting startups from 125 countries and hosting over 35,000 projects. CBC has signed a cooperation agreement granting us access to this system and enabling a structured, global approach.
Next year, we plan to launch the CBC Accelerator, the island’s first accelerator fully integrated with the Unicorn.Events network. Their experts will help prepare Cyprus-based startups for international pitches. We are also planning training programs, mentorship sessions, and expert reviews to ensure teams can compete globally.
We are also enabling Cyprus startups to participate in international Unicorn rounds, which attract venture funds from around the world. Our mission is clear: we want Cyprus startups not only to participate, but to win, scale, and represent the island on the global stage.
Which technological directions are the most promising for Cyprus today?
Cyprus is developing as a highly diversified tech hub, with several standout sectors. The first, and the core theme of Unicorn Pitches Limassol this year, is AI and automation. There is significant global demand for applied AI in services, fintech operations, logistics, and e-government.
The second key sector is fintech and payment solutions. Many PayTech, RegTech, and ComplianceTech companies already operate on the island. As part of the eurozone, Cyprus is an ideal gateway for payment companies targeting EU markets.
The third area is blockchain and digital assets. Cyprus’s English-based legal system and stable regulatory environment have made it a leading location in Europe for Web3 teams. Global protocols and infrastructure companies are already established here.
The fourth fast-growing sector is sustainable technologies and the blue economy. Cyprus has significant potential in energy, smart mobility, water management, and maritime technology, all of which are strongly supported by EU green transition investments.
All these industries share a key trait: they can scale globally while being developed in Cyprus. This is crucial for the island’s economic future.
What future initiatives is Cyprus Business Club planning to strengthen the island’s innovation ecosystem?
We are developing several major strategic initiatives. One key step is launching the CBC Accelerator, built to Unicorn.Events standards, to provide a clear pathway for startups from idea or MVP stage to investment readiness.
Next year, we will return the event to Limassol, where we expect to attract even more experts, investors, startups, and guests. Our goal is to establish a permanent platform for regular collaboration among venture funds, founders, corporations, and research centers. We aim to create a flagship annual event that attracts international investors.
At the We are also developing new educational initiatives and partnership programs with universities in Cyprus, as well as mentorship sessions with experts from Europe and the U.S. Additionally, we plan to support Cyprus tech delegations at major international forums, including Web Summit and the VC.House & Network VC Group events in Davos in 2026.ng-term goal is clear: to build an ecosystem where Cyprus-based startups can grow just as fast as those in Europe’s leading innovation capitals.
What outcome do you expect from Unicorn Pitches? In the short and long term?
We are creating an event that is both valuable for business and engaging for participants. The startup community is dynamic, and we aim to maintain that energy. We expect new partnerships to form between startups and investors. Our efforts focus on increasing global venture interest in Cyprus-based projects and enhancing the island’s reputation as a birthplace for future unicorns. The long term, we see Unicorn Pitches as the foundation for several key developments. The most significant is establishing an annual tradition of major international startup events in Cyprus. We envision Cyprus Business Club as a platform for the country’s strongest tech teams, accelerating ecosystem growth to match leading European tech hubs and fostering the emergence of Cyprus’s first lighthouse companies—startups capable of becoming global players.
For us, this is not a one-time event. It marks the beginning of a sustained effort to strengthen Cyprus’s innovation economy.