The award was established by Sir Stelios Haji-Ioannou, the serial entrepreneur and founder of easyGroup, who has pledged to give away as much as €1 million of his own money over the next 4 years to promote the spirit of entrepreneurship and bi-communal business teamwork in Cyprus, and help to foster cross-border relationships.

Targeted at young, dynamic businesses in need of growth funding, it will reward those who are best able to demonstrate effective teamwork, mutual trust, and prospects for business viability.  

The entrepreneurial teams must show island-wide entrepreneurial activity, and consist of at least one Greek-Cypriot and one Turkish-Cypriot, each born on the island of Cyprus.  Up to five winning teams will be presented with a personal cheque for €50,000 from Stelios, who will review applications personally.

Commenting on the initiative, Stelios said: “I am delighted at the response we have received so far for the award.  I set it up in the hope that it could help to break down the barriers that exist between the island’s north and south – which are currently divided by different languages, religions, and cultures.  The volume of and quality of applicants demonstrates that the potential is there to foster a long-term spirit of business co-operation.”