TraCar wins top accolade

The award ceremony of the Business Idea Competition 2015 – 2015 was held on April 17th, 2016 at UCLan Cyprus in Pyla, Larnaca and was hosted by the Centre for Entrepreneurial Development, Alliance and Research (CEDAR).


 The Business Idea Competition 2015 – 2016 was led by CEDAR in partnership with a number of stakeholder organisations that include: Cyprus University of Technology, University of Cyprus, Open University Cyprus, Cyprus Chamber of Commerce and Industry, Junior Chamber International (Cyprus), CYBAN, Youth Board of Cyprus, KOGEE-Cyprus Federation of Business and Professional Women, Anaptixiaki–ANETEL, and UK-based EPISTEME and the UK Cyprus Enterprise Council. Business Idea Competition 2015 – 2016 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.


Entrepreneur Andrew Michael launched the ceremony with a presentation on the development of Funifi – a local start-up with international success.  Following, aspiring entrepreneurial teams presented their business ideas to entrepreneurs, scholars, business angels and supporters of venturing; including the Jury.


Top award, sponsored by KPMG, was won by ‘TraCar’, a business that wishes to provide to young adults the opportunity to acquire car insurance for a limited period through a smart mobile application.


The second award, sponsored by Alpha Bank, was offered to two business ideas: “Order Blink” and “Refreego”.


The Social Enterprising award, sponsored by UCLan Cyprus MBA, was presented to ‘Twosumm’.


Finally, commendations were offered to ‘PayCoin’.

“We need to encourage our youth to come up with creative ideas and offer them the support they need to materialise their ideas into innovative and sustainable start-up ventures. The role of universities and entrepreneurship centres is instrumental in achieving this”, said Professor Panikkos Poutziouris leading CEDAR.

CEDAR announced that their next business idea activities will come in the context of Business Idea Competition 2017 and the new Junior Achievement Start-up Programme across universities.

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