Startup world cup returns to Cyprus with $1m prize
April 25, 2025 - The world’s leading startup pitch competition, Startup World Cup, is returning to Cyprus for the second year in a row, organisers confirmed in an announcement issued on Thursday. Presented by Mellow and organised by Aivitam Ventures in partnership with Pegasus Tech Ventures, the prestigious global event will offer startups in Cyprus and beyond the chance to compete for a $1 million investment prize at the Grand Finale in San Francisco on October 17, 2025. According to the announcement, the application process for the Cyprus regional finals is now open, with a deadline set for May 20. Startups interested in participating are required to submit their pitch deck and business details through a simple online process. Venture capital analysts will then shortlist ten finalists who will pitch live in Limassol on July 5, 2025. Last year, two startups—Fincom and DISPL—represented the island in the global finals. Fincom ranked an impressive fourth place out of more than 100 cities and countries, a notable achievement that brought international visibility to the Cypriot innovation scene. The Startup World Cup, created by Pegasus Tech Ventures, spans over 100 regional competitions globally. From North America to Asia and Europe to Africa, it brings together some of the brightest minds in tech, investment, and entrepreneurship. In Cyprus, more than 100 startups from across industries are expected to participate, including founders and teams with strong ties to the island, as well as entrepreneurs from Ukraine, Greece, Israel, and the wider MENA region. According to the announcement, eligible startups must have a registered entity and a strong connection to Cyprus—such as Cypriot founders or team members. Startups from neighbouring regions including Ukraine, Greece, Israel, and MENA are also welcome to apply and compete in the Cyprus regional finals. The application process is straightforward. Interested startups must submit their application by May 20, 2025, including relevant company details and a pitch deck. Once submitted, applicants will receive email updates and gain access to the networking platform, allowing them to connect with mentors, angel investors, and venture capital funds. From there, venture capital analysts will select the top ten startups to advance to the final round. These finalists will pitch their startup live at the competition in Limassol on July 5. Finalists will not only compete for a spot in the San Francisco finals but will also benefit from round-trip travel coverage and partner-sponsored prizes valued at $10,000. The Limassol event will follow a conference-style format, featuring panel discussions, live interviews, and extensive networking opportunities, including private meetings with investors and exposure to local and international media. This year’s headline speaker will be Uri Levine, renowned entrepreneur and co-founder of Waze, the world’s largest driving traffic and navigation app. Levine is also an early investor in Moovit. As part of his participation, he will deliver a keynote, host a networking book session, and offer an exclusive training course to the selected finalists. Dmitry Dosov, General Partner at Aivitam Ventures, said, “Cyprus is steadily evolving into a dynamic startup hub, with immense potential and a growing pool of opportunities. The foundation is already being laid, but there is still a long way to go.” He added that their mission is to contribute to this transformation by helping local entrepreneurs scale up and gain international exposure. “Together with our partners, we aim to turn Cyprus into a strong contender on the global innovation stage and guide the next generation of startups on their path to success.” Pavel Shynkarenko, founder and CEO of Mellow, commented, “At Mellow, we’re passionate about nurturing entrepreneurial talent in all its forms, making our partnership with the Startup World Cup a natural and exciting fit.” He continued, “This competition provides local startups an exceptional platform to showcase their innovations, connect with investors, and secure essential funding to accelerate their growth. We’re proud to support this inspiring event and are genuinely excited to help ambitious entrepreneurs turn their visions into reality.” From Silicon Valley, Pegasus Tech Ventures’ founder and CEO Anis Uzzaman said, “We are thrilled to partner up with Aivitam Ventures for the Startup World Cup Cyprus Regional and are delighted by the quality and enthusiasm of the competing startups.” He went on, “Each year, we have been able to reach more entrepreneurs in more cities around the world and connect more innovation ecosystems to Silicon Valley and the rest of the world. We hope this partnership creates new, valuable opportunities for the competing startups in Cyprus.” Meanwhile, Demetris Skourides, Chief Scientist of Cyprus, noted the rapid growth of the island’s tech scene. “Exciting to see how fast the Cypriot startup ecosystem is evolving, particularly with new startups betting their solution framework approach on adopting AI technologies,” he said. “According to ecosystem analysts such as Startupnlink, since 2020, the number of startups in Cyprus has grown 5x, and we are now growing faster than ever.” “The results speak for themselves, and we now need to rethink how we embrace every startup and innovative company that has as its vision to change the world through Cyprus. I would like to take this opportunity to thank Startup World Cup Cyprus Finals for their persistence in awakening the innovation ecosystem and encouraging it to step up”, Skourides concluded. This year’s Cyprus finals are again being organised by Aivitam Ventures and Pegasus Tech Ventures. Aivitam Ventures acts as a venture fund, startup builder, and global marketing partner for tech companies, and recently launched The Future Media, a new global media platform. Pegasus, based in Silicon Valley, manages $2 billion in assets and continues to support innovation worldwide through both financial and intellectual capital. In addition to Mellow as title partner, the event is supported by Dream Play and Invest Cyprus as silver partners, Cybergizer and Sendpulse as bronze partners, and BrainRocket as venue partner. Media support is provided by The Future Media, with Pegasus Tech Ventures as global organiser and Aivitam Ventures as Cyprus organiser. Read More