Applications are now open for the fifth edition of Deloitte Middle East’s Technology Fast 50, inviting fast-growing tech companies from Cyprus and the Middle East to apply by December 19, 2025. 

The annual programme ranks the region’s fastest-growing technology startups based on their revenue growth over the past four years, providing a trusted platform that showcases innovation and entrepreneurship across multiple sectors. 

Kyriacos Charalambides, Partner, Strategy and Transactions at Deloitte Cyprus, and Emerging Growth Companies Segment Leader for Deloitte Private in the Middle East, who leads the initiative, said the Technology Fast 50 plays a vital role in promoting the region’s dynamic startup ecosystem.  

He noted that what truly inspires him about the programme is “its pivotal role in spotlighting the dynamic startup ecosystem, showcasing not only extraordinary growth but also a rich diversity of innovation throughout the region.” 

He added that the initiative spans sectors ranging from fintech and e-commerce to sustainability, healthtech and AI, recognising tech-driven enterprises at all stages that are actively transforming the economic and social landscape of Cyprus and the Middle East.  

“Cyprus’s consistent and growing participation over the past few years underscores its emergence as a vital hub for technological advancement and entrepreneurial excellence,” he said, expressing hope to see this continue in the current edition as well. 

The fourth edition marked a milestone, attracting more than 200 applications and reflecting the strong momentum of the regional startup scene.  

Ranked companies achieved an average growth rate of 8,823 per cent, with 29 firms surpassing 1,000 per cent and the top performer reaching an exceptional 20,164 per cent.  

Notably, Cypriot firms have led the rankings in all four editions, with Capital.com taking first place for three consecutive years and Municorn topping the most recent list. 

In addition to the main ranking, the programme features four special award categories: Rising Star for younger firms with strong potential, Impact for companies embedding ESG principles in their mission, Women in Leadership for female-led ventures, and Kiyadat for GCC national founders. 

Applications are open to companies across sectors such as communications, digital commerce, edtech, environmental tech, fintech, hardware, healthcare and life sciences, media and entertainment, and software.  

Previous applicants and winners are also encouraged to reapply through a simplified process. 

Fast-growing technology companies based in Cyprus or the Middle East can find more information and submit their applications by December 19, 2025.