The Cyprus Innovation Awards 2025, organised by the Employers and Industrialists Federation (Oev), have been approved for inclusion in the official programme of the European SME Week.

The European SME Week is a pan-European initiative led by the European Commission aimed at encouraging entrepreneurship and raising awareness about the vital role of small and medium-sized enterprises (SMEs) within the European Union.

Held each year, usually in November, the campaign includes a range of events, workshops, and conferences designed to support current business owners, inspire new ventures, and emphasise the significance of SMEs to the EU economy.

In terms of this year’s Cyprus Innovation Awards, Oev said that more details will be released in the near future.

The competition will culminate with an awards ceremony honouring the winners during the first half of 2026, coinciding with Cyprus’ Presidency of the Council of the European Union.

In a statement, the federation said “the inclusion of the Innovation Awards in SME Week is yet another recognition at the European level of Oev’s long-standing contribution to the promotion of innovation and business excellence”.

It added that it “reaffirms Oev’s role and mission as an institutional representative of enterprises in Cyprus and internationally”.

The statement further mentioned that the Innovation Awards competition “is a flagship initiative of Oev, held annually since 2006, which aims to reward businesses and organisations that have successfully turned their innovative ideas into action, whether through new products, services, or innovative processes and methods that represent a significant improvement over what previously existed”.

According to the announcement, the Oev Innovation Awards have become “a recognised institution and are considered the highest distinction for innovation in Cyprus”.

They have also been acknowledged by the European Commission as a good practice and receive full support from the state through a decision by the Council of Ministers, coordinated by the Deputy Ministry of Research, Innovation and Digital Policy and the Research and Innovation Foundation (RIF).