Statement:
In Armenia, startup ecosystem seems to be less developed than in Cyprus

In the Startup Ecosystem Index rating Armenia holds position #60 ²⁰²² out of 99 and Cyprus is #55 out of 99 ²⁰²².
Position of Armenia is worse than position of Cyprus.

Referencies:

1. Startup Ecosystem Index ²⁰²² by StartupBlink

   The countries in the rating sorted by 'Total Score' in descending order.

   Armenia	'Total Score' value is	2.151
   Cyprus	'Total Score' value is	3.318