Sir Stelios puts €200,000 on the table for Cyprus’ young entrepreneurs

Young entrepreneurs and start-ups in Cyprus will have the chance to compete for €200,000 in cash prizes, with applications for the 2026 Stelios Awards open until October 31 ahead of the awards ceremony in Nicosia on November 10. The Stelios Awards for Young Entrepreneurs in Cyprus return for another year, offering three prizes aimed at helping promising businesses grow, create jobs and take their next step. This year, the winner will receive €100,000, while the second-placed entrepreneur will take home €60,000 and the third €40,000. Applications opened on September 1 and will remain open for two months, closing on October 31. The three winners will then be recognised at an awards ceremony on November 10 at the Stelios Philanthropic Foundation’s headquarters in Nicosia. The initiative forms part of entrepreneur Sir Stelios Haji-Ioannou’s wider efforts to support young people building businesses in Cyprus, with the awards placing particular emphasis on entrepreneurship, business growth and the creation of new jobs. Since the scheme was launched in Cyprus in 2023, more than €360,000 has already been awarded to young entrepreneurs. The latest competition follows a particularly strong 2025 edition, when the prize fund stood at €200,000 and attracted a record 77 applications, according to the Stelios Philanthropic Foundation. Last year’s €100,000 first prize went to 23-year-old Limassol entrepreneur George Chrysostomides, founder and chief executive of Shrine Solutions Ltd, which develops digital technology solutions for e-commerce through its shrine.io platform. However, Chrysostomides’ win was followed by an unusual move. Shortly after receiving the award, he announced that he would donate the entire €100,000 prize to young entrepreneurs and families facing financial difficulties in Cyprus. “Success only has value when you share it,” Chrysostomides said, adding that he hoped the decision would encourage others to view entrepreneurship not only as a means of personal advancement, but also as a way of contributing to society. The second prize of €60,000 went to Chrystallena Poulli of plant-based cosmetics business CP Herbalist, while Harout Chouldjian and Panayiotis Frantzesko, behind online shapewear business Luxmery, received the €40,000 third prize. The awards have grown considerably since their introduction. In 2024, three young entrepreneurs shared €100,000, before the total prize pot was doubled to €200,000 the following year. For 2026, that €200,000 fund is being maintained, giving another three entrepreneurs the chance to secure substantial financial backing for their businesses. Further information and applications are available through the Stelios Awards website.