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

In the Startup Ecosystem Index rating Cyprus holds position #55 ²⁰²² out of 99 and Luxembourg is #40 out of 99 ²⁰²².
Position of Cyprus is worse than position of Luxembourg.

Referencies:

1. Startup Ecosystem Index ²⁰²² by StartupBlink

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

   Cyprus	'Total Score' value is	3.318
   Luxembourg	'Total Score' value is	5.447