BUSINESS IDEA COMPETITION 2014

he award ceremony of the Business Idea Competition 2014 was held on November 11th, 2014 at UCLan Cyprus in Pyla, Larnaca and was hosted by the Centre for Entrepreneurial Development, Alliance and Research (CEDAR).

The Business Idea Competition 2014 was led by CEDAR in partnership with a number of stakeholder organisations such as Chambers, JCI, KOGEE, Cyprus University Technology, and University of Cyprus and involved start-up business training on building innovative ideas aiming for the promotion of creative innovations and new venture development.

The ceremony, which has been a celebration of enterprise across the entrepreneurship roadmap, was under the auspices of the Ministry of Energy, Commerce, Industry and Tourism and under the flagship of the Global Entrepreneurship Week.

Entrepreneur Michalis Kalopedis launched the ceremony with a presentation on the development of Zedem Media – a local firm with international success. Following, aspiring entrepreneurial teams presented their business ideas to entrepreneurs, scholars, business angels and supporters of venturing; including the Jury.

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Top award, sponsored by KPMG, was won by London based ‘Viva la Vita’, a business-to-consumer smart application linking deal searching folks and fitness class providers. This innovative booking system allows fitness funs to enjoy membership-free gym classes and fitness centres to utilise extra capacity at certain times.

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The second award, sponsored by Alpha Bank, was offered to ‘Controlley’, a web platform bringing together socially conscious consumers, NGOs, and companies to promote socially responsible e-commerce and facilitate social change campaigns.

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The third award, sponsored by UCLan Cyprus MBA, was presented to ‘Peritus Marine Consultants’, a business-to-business idea seeking to match ship owners and managers in Cyprus with Chinese shipyards.

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Finally, commendations were offered to Manchester based ‘Eventor’ and social enterprise, ‘We hug a Cause’.

Award winning teams were offered limited free hosting in CYBAN Capital Impact (powered by CYTA) and the opportunity to present their re-engineered venture plans during a CYBAN forum.

“New entrepreneurial ventures are drivers for innovation-led development across the social and economic frontiers; incentives are needed to enthuse more investment in start-ups and growth-inspired ventures“, said Professor Panikkos Poutziouris leading the initiative.

CEDAR announced that their next activity will be the Panorama of Innovation with the aim to showcase innovation champion firms operating in services, agro-farming, production and the tourism sector.

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