BUSINESS IDEA COMPETITION 2013

CEDAR – the Centre for Entrepreneurial Development and Research [CEDAR] of UCLan Cyprus – the pioneering Centre of Entrepreneurship in Cyprus, had successfully organised the Business Idea Competition [BIC] 2013. The BIC initiative promotes entrepreneurialism across social and commercial frontiers embracing aspiring entrepreneurs, young, female enterprisers locally and internationally.

The competition is a partnership of CEDAR and a number of local and international stakeholders with an interest to promote creative innovations and new venture development. These partners include the Larnaca and Famagusta chambers of commerce, Junior Chamber International (Cyprus), Women’s Coop Bank, Cyprus Federation of Business and Professional Women, Cyprus Network of Female Entrepreneurship Ambassadors, Anaptixiaki–ANETEL, and UK-based EPISTEME and the National Federation of Cypriots.

The 2013 BIC was launched during the Panorama for Entrepreneurship Support Schemes event, which was organised by CEDAR and hosted at the UCLAN Cyprus campus in Pyla on January 31st, 2013. Following this event, a number of business training and mentoring workshops took place across Cyprus and the UK, for the purpose of educating, training, and supporting entrepreneurial teams on how to register and develop their own business ideas.

More than 400 participants attended the BIC workshops, which were held as follows:
• 7 Mar 2013, Enteprising @ UCLan UK, Preston
• 7 Mar 2013, Edu in Enterprise @University of Manchester, UK
• 12 Mar 2013, BIC @Limassol Chamber of Commerce
• 19 Mar 2013, BIC @Limassol Business Network
• 14 Mar 2013, BIC @UCLAN Cyprus, Larnaka
• 26 Mar 2013, BIC @Cy Chamber of Commerce -Industry, Nicosia
• 9 Apr 2013, Enterprise in Edu @ Hellenic Centre, London
• 10 May 2013, Business Mentoring@ UCLAN Cyprus, Larnaka

Moreover, CEDAR faculty had contributed to a number of Cyprus-wide entrepreneurship-related events organised by Grant-Expert consultants, where the BIC was extensively featured.

A number of interesting ideas have been submitted by teams representing all walks of life Following an evaluation by a jury of entrepreneurs, academics, and other experts, five teams were nominated for the three BIC awards: 1500 euros sponsored by Alpha Bank (first award), 1000 euros sponsored by Demetrakis Koumandari Foundation (second award), and complimentary registrations with the UCLAN MBA module: New Enterprise Venture Development (third award).

The award ceremony of the Business Idea Competition 2013 took place on June 18th, 2013. The ceremony was a celebration of enterprise with aspiring entrepreneurs presenting their business ideas to entrepreneurs and supporters of venturing. The event started with a presentation by Kostas Sisamos, founder of Engino, who spoke about the entrepreneurial development of his company, which is successful and continues to invest in innovation despite the prolonged financial crisis. Following, award winners presented their ventures to entrepreneurship enthusiasts and business angels.
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Presentation by Kostas Sisamos of Engino

Top award, sponsored by Alpha Bank, has been won by Patricia Fritsch of EnaRodi, a dedicated service to support surveying and using donation to charity as an incentive for enhancing participation in surveys.

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First Award Winner: Patricia Fritsch of EnaRodi

Other award winning ventures included “StudentLife.com”, “Frontistirio.com”, and “Agora.com.cy”

CEDAR has already embarked on the planning for the 2014 Business Idea Competition, aspiring to build this initiative to higher levels of success and more partners are to be engaged.

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