CYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION
CYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION

Cyprus Entrepreneurship Competition (CyEC)

The Cyprus Entrepreneurship Competition (CyEC) is re-launched in summer 2020, organized by the Centre for Entrepreneurship of the University of Cyprus with the support of the Ministry of Energy, Trade and Industry and the valuable contribution of distinguished organizations and professionals from the Cypriot and global business and research ecosystem.

CyEC is a Business Plan Competition, which has been running between 2003-2016 and has attracted ideas from over 100 teams with more than 400 people, with CyEC alumni successfully launching over thirteen start-up companies, some with significant investments and revenues. CyEC returns in 2020 aiming to transform innovative business ideas into successful businesses, while developing a network of business innovation culture. The Competition will be held between June and December 2020.

Following an initial selection process, selected teams will be invited to attend a business acceleration program with Entrepreneurship Seminars and Business Planning Workshops and will be offered Mentoring. The acceleration program aims at maturing business ideas and developing competitive business plans so that teams will be prepared for their market entry/development plan. At the end of this program, teams are required to submit a well-developed Business Plan of their project idea. The CyEC Jury evaluates and rates the submitted Business Plans and selects the finalist teams. The finalists are expected to present their Business Plans in a closed meeting with the CyEC Jury on December 17th 2020. All finalists are also required to present a 3-minute long pitch of their business plan in an open audience at the CyEC Final Conference. At the end of the Conference, the Award Ceremony will take place with the CyEC Jury announcing the winners and giving the awards.

For now, prizes include monetary awards of 20000 EUR offered mainly by the Ministry of Energy, Commerce and Industry with further contribution from Navigator Consulting GroupFree hosting in KAYAK facilities in Boston or Berlin, for 1-3 month, hosting in RISE – Research Centre on Interactive Media, Smart Systems and Emerging Technologies facilities, for 6-12 months and hosting in Navigator Consulting Group for up to 6 months in Limassol, including mentoring and business development support. Participating teams at the business acceleration program will have the opportunity to be selected to join directly the 6th cycle of IDEA Incubator – Accelerator. More awards will be announced on the Competition’s website.

The CyEC competition is re-launched to a key period where efforts to strengthen and establish a comprehensive research and innovation system in Cyprus are intensified by developing adequate administrative and capacity structures and announcing targeted policies. Reforms that emphasize the actual importance of the research and innovation sector and the productive dynamics it can provide.

CyEC2020 is also supported and sponsored by PwC Cyprus, the Cyprus Telecommunications Authority (CYTA) and the MBA Program of the University of Cyprus.

The main communication sponsor is MOV Management Ltd.

More information on the competition website: https://cyec.org.cy/