Cyprus opens applications for €200,000 award for young entrepreneurs — Cyprus Mail
In Cyprus, young entrepreneurs and startups can apply for the Stelios Awards for Young Entrepreneurs in Cyprus competition, with a total prize fund of €200,000. Applications are accepted until October 31, and the winners’ award ceremony is scheduled for November 10 in Nicosia.
As Cyprus Mail reports, the winner of the competition will receive €100,000. The second-place prize will be €60,000, while the third-place prize will be €40,000.
Business support
The award is part of initiatives by entrepreneur Sir Stelios Haji-Ioannou aimed at supporting young people developing their own businesses in Cyprus. The competition focuses on entrepreneurship, company growth, and the creation of new jobs.
Three laureates will be honored at the headquarters of the Stelios Philanthropic Foundation in Nicosia. The competition was launched in Cyprus in 2023, and since then young entrepreneurs have already been awarded more than €360,000.
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Results of the 2025 competition
In 2025, the prize fund also amounted to €200,000, and the competition received a record 77 applications, according to the Stelios Philanthropic Foundation. The main €100,000 prize was then awarded to 23-year-old Limassol entrepreneur George Chrysostomides, the founder and CEO of Shrine Solutions Ltd. His company develops digital technology solutions for e-commerce through the shrine.io platform.
After receiving the award, Chrysostomides said he would donate the entire prize amount to young entrepreneurs and families facing financial difficulties in Cyprus. He also expressed hope that this decision would encourage others to see entrepreneurship not only as a path to personal development, but also as a way to contribute to society.
Last year, second place went to Christallena Poulli of the plant-based cosmetics brand CP Herbalist. The third prize was awarded to Harout Chouljian and Panayiotis Francesco, who are behind the Luxmery online shapewear business. In 2024, three young entrepreneurs shared €100,000, and the total fund was doubled the following year.
