Young entrepreneurs in Cyprus have set a new record this year for the ‘Stelios Awards for Young Entrepreneurs in Cyprus’, with 77 applications submitted, the highest number so far.  

At the same time, the prize money has been doubled to €200,000, making the 2025 edition the most significant to date. 

For the third consecutive year, the competition is offering opportunities to the country’s new generation of business leaders.  

The three best business proposals will receive funding directly from Sir Stelios Haji-Ioannou, founder and owner of the easy family of Brands, and founder and president of the Stelios Philanthropic Foundation. 

According to the statement, this impressive turnout reflects the new generation’s thirst for progress and innovation, highlighting that young Cypriot entrepreneurs recognise the awards as a leading platform to promote creativity and business innovation. 

It is also mentioned that this year’s prize fund, now €200,000, is intended to provide stronger incentives and tangible support to the winners.  

The awards will be allocated as follows: €100,000 for first place, €60,000 for second, and €40,000 for third. 

The Stelios Awards, which began in Greece in 2008, have become well established in Cyprus, providing the next generation of entrepreneurs the opportunity to dare, showcase their vision and ideas, and turn them into reality. 

Eligibility this year was open to individuals of any nationality under the age of 34, who founded a company in Cyprus within the past five years and achieved an annual turnover of at least €40,000. 

Interviews with shortlisted candidates will be held online in the coming weeks. The final stage will take place on October 7, when Sir Stelios Haji-Ioannou will personally present the prizes at the Awards Ceremony, held in the presence of the First Lady, Philippa Karsera-Christodoulides. 

Beyond the entrepreneurship awards, the Stelios Philanthropic Foundation continues its wider work in the countries where Sir Stelios and his family have lived and worked – Cyprus, Greece, the UK, Ireland, Monaco and France.  

According to the statement, its activities in Cyprus include the Bi-Communal Business Cooperation Awards, the Youth Entrepreneurship Awards and the ‘Food from the Heart’ initiative, which provides meals to thousands facing financial hardship. 

It is also mentioned that the Foundation extends financial aid to vulnerable groups, supports those affected by major disasters and assists charitable organisations.

In addition, scholarships are offered to students for university-level studies.