“Talent exists in Cyprus” — Sir Stelios awards €200K to three Cypriot startups

“Keep pursuing your ambitions”: Sir Stelios Haji-Ioannou pledges ongoing support for young startups Three young businesses in Cyprus have received a combined €200,000 in financial awards after being recognised for their entrepreneurial potential at a ceremony for the 2026 Stelios Awards for Young Entrepreneurs, held in Nicosia on Tuesday. The awards, organised for the fourth consecutive year by the Stelios Philanthropic Foundation, recognise innovation, creativity and entrepreneurial initiative, with the funding intended to help promising businesses expand their operations and pursue new opportunities. Sir Stelios Haji-Ioannou, creator and owner of the easy family of brands and founder and chairman of the Stelios Philanthropic Foundation, presented the awards, continuing his support for the development of Cyprus’ next generation of entrepreneurs. The ceremony took place at the foundation’s premises at 5 Markou Drakou Street in Nicosia, with three businesses receiving prizes ranging from €40,000 to €100,000. The first prize of €100,000 went to Nomads Properties, founded by Elena Kourti, Giorgos Theofanous and Nikolas Gabriel. The company specialises in the rental and management of luxury villas and tourist accommodation in Cyprus, providing personalised hospitality services. The second prize of €60,000 was awarded to MC Farm Solutions, founded by Michalis Christodoulou, which specialises in supplying, installing and maintaining modern livestock equipment and automation systems for livestock farming facilities. The third prize of €40,000 went to DermLux, founded by Therapon Constantinou, Andriana Constantinou and Christos Karapatakis. DermLux operates a chain of medical aesthetics clinics across Cyprus, offering services including laser hair removal, facial treatments and injectable aesthetic procedures. Sir Stelios congratulated the winners through a video address via Zoom, encouraging them to continue taking risks and pursuing their entrepreneurial ambitions. The first prize was presented by Deputy Minister to the President Irene Pikis, while the second was presented by Rena Rouvitha Panou, a member of the board of directors of the Stelios Philanthropic Foundation. The third prize was presented by Giorgos Chrysostomides, who received last year’s €100,000 award, adding a symbolic element to this year’s ceremony. The competition attracted 50 applications from young entrepreneurs this year, highlighting the interest among emerging businesses in securing recognition and financial support for their ventures. The founders of Nomads Properties said the award represented meaningful recognition of their business journey and ambition to transform the management of boutique accommodation. “Having started out as university classmates and close friends, bringing together complementary skills in engineering, management and finance, this distinction represents meaningful recognition of our journey and our vision to redefine boutique accommodation management through an authentic, personalised and design-led approach,” the founders said. They expressed their gratitude to Sir Stelios and the foundation, adding that the recognition was shared with the company’s employees. “This award belongs first and foremost to the exceptional team at Nomads Properties. Every milestone, every achievement and every guest who enjoys an outstanding stay is the result of collective effort and daily dedication,” they said. The founders added that recognition from an internationally acclaimed entrepreneur carried particular significance in a country where tourism and hospitality remain among the most important pillars of the economy. “In a country where tourism and hospitality are among the most important pillars of the economy, recognition from an internationally acclaimed entrepreneur such as Sir Stelios fills us with a strong sense of responsibility and renewed determination,” they said. They explained that the company would continue investing in digital innovation, promoting Cyprus’ destinations and local attractions while seeking to create long-term economic value for the island. The founders also expressed hope that their experience would encourage other young people to pursue entrepreneurship. “We believe that when you follow your passion, continuously invest in knowledge, work with discipline and remain committed to your goals, you can achieve far more than you initially imagined,” they said. They added that the company intended to expand both domestically and internationally, describing its development as being at an early stage. “The journey of Nomads Properties is only just beginning. We aspire to continue innovating, expanding our presence both in Cyprus and abroad, and setting a positive example for the next generation of entrepreneurs,” they said. Meanwhile, MC Farm Solutions founder Michalis Christodoulou described the €60,000 award as one of the proudest moments in the company’s development. Established in 2024, the business was created with the aim of supporting Cypriot livestock farmers through the introduction of innovative technologies and modern solutions designed to improve the sector’s development and sustainability. “MC Farm Solutions was established in 2024 with the vision of supporting Cypriot livestock farmers by introducing innovative technologies and modern solutions that contribute to the advancement and sustainability of the livestock sector,” Christodoulou said. He said the recognition reflected the work and commitment of the company’s entire team, while also demonstrating what young entrepreneurs could achieve through persistence and a clear business vision. “This award recognises the hard work, dedication and collective efforts of our entire team. At the same time, it sends a message to all young entrepreneurs that, with perseverance, hard work and a clear vision, they can turn an idea into a successful business,” he said. Christodoulou thanked Sir Stelios and the foundation, as well as the company’s clients, partners and suppliers, for their continued confidence and support. He also paid tribute to his family and those who had supported him from the beginning, adding that their encouragement had been important to the company’s development. The founder said the award would provide further motivation for MC Farm Solutions to continue investing in technology, automation and sustainable development, with the broader objective of contributing to the advancement of Cyprus’ primary sector. The third-place winners, meanwhile, said DermLux had been established in 2023 by three young doctors and friends, with the ambition of creating modern aesthetic clinics in every city in Cyprus. They explained that their business model was based on providing high-quality and effective treatments using protocols developed by doctors. “We opened our first clinic in Limassol with just two treatment rooms. Today, we operate five locations across four cities, with a team of 44 people, the vast majority of whom are young women, who make us proud every day. This award belongs to them,” the founders said. The founders attributed the company’s expansion to entrepreneurial initiative and a strategy of reinvesting its earnings rather than relying on external borrowing. “We have operated without bank borrowing, reinvesting every euro earned into new treatment rooms, new equipment and new people. We have learned to make quick, data-driven decisions, build the tools we need ourselves and place our trust in our team,” they said. They considered receiving an award from Sir Stelios, a figure they described as a Cypriot who had reached the pinnacle of international business, to be exceptionally meaningful. “Recognition from Sir Stelios Haji-Ioannou, a Cypriot who has reached the highest levels of global entrepreneurship, is the strongest confirmation that this approach of perseverance and reinvestment, rather than chasing quick profits, is the right one,” they said. The founders confirmed that the entire €40,000 prize will be invested in DermLux’s next location in Nicosia, funding additional treatment rooms, new equipment and employment opportunities. They also encouraged young people considering starting their own businesses not to be discouraged by the relatively small size of the Cypriot market. “Cyprus may seem like a small market, but there is room for those who dare to take the initiative. There are opportunities, and hard work is rewarded,” they said. They added that initiatives such as the Stelios Awards demonstrated the importance of supporting younger generations and encouraging entrepreneurial ambition. In her address, Deputy Minister to the President Irene Pikis highlighted the contribution of entrepreneurship to economic development, innovation and employment. “Entrepreneurship is a key driving force behind innovation, economic growth and the creation of quality jobs. It contributes to strengthening competitiveness and, ultimately, to improving citizens’ standard of living,” she said. Pikis said the government’s role, where necessary, was to enable private-sector activity by creating the appropriate conditions for businesses to develop and strengthen their operations. “Where necessary, the government’s role is to act as a facilitator, creating the right conditions for the development and strengthening of private initiative,” she said. She described the Stelios Awards as an excellent example of how such support could be provided, congratulating Sir Stelios and the foundation for their longstanding contribution to young entrepreneurs. “I warmly congratulate Sir Stelios Haji-Ioannou and the Stelios Philanthropic Foundation for their longstanding contribution and tangible support for the new generation of entrepreneurs,” Pikis said. Addressing the ceremony, Sir Stelios said the annual awards gave him an opportunity to meet young people whose ideas, vision and determination demonstrated the entrepreneurial potential available in Cyprus. “Every year, the Young Entrepreneurship Awards give me the opportunity to meet young people with ideas, vision and determination,” he said. “Talent exists in Cyprus, and young entrepreneurs are proving that they can establish and build businesses with promising prospects,” he added. He further stated that the financial support provided through the competition was intended to help young business owners turn their ambitions into reality and advance their plans. “The Stelios Awards for Young Entrepreneurs provide meaningful financial support to those who dare to take the initiative, enabling them to move forward with their plans and realise their potential,” he said. Congratulating the three winners and all those who had entered the competition, Sir Stelios stressed that building a successful business required perseverance, a willingness to take risks and confidence in one’s ideas. “My message to young people is simple: keep trying, keep innovating and keep pursuing your ambitions. I will continue to support those who dare to take the next step,” he said.