TUESDAY, 10 DEC 2019



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Yiorgos Lakkotrypis: Development of “Aphrodite” Gas Field Continues As Planned

Cyprus President Outlines Eleven Reform Proposals



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IDEA Innovation Centre Clinches Major European Award

IDEA Innovation Centre Clinches Major European Award

IDEA Innovation Centre has won first place in the European Commission’s ‘Enterprise Promotion Awards’ organised by the European Commission. The distinction is an extremely significant one, placing Cyprus firmly on the map of innovation.

Having competed against 260 candidates from 29 countries, IDEA made it to the finals in the "Investing in Entrepreneurial Skills" category, where it ultimately beat out the two other finalists, Italy and Portugal. This is a major success, capping IDEA's long list of accolades both in Cyprus and overseas, underscoring its leadership role in promoting entrepreneurial innovation.

Since its establishment IDEA developed into the largest non-profit integrated centre supporting entrepreneurial innovation in Cyprus. IDEA invests in young people, building up their confidence in their skills and promotes youth and startup entrepreneurs.

The Innovation Centre helps create new jobs, financing opportunities for SME startups, as well as angel investments. It supported 48 new businesses, creating more than 70 jobs, trained more than 350 women, and worked with over 4,000 students. It has contributed to fostering a culture of giving back among the Cypriot business community.

Crucial to IDEA's success has been the support from Bank of Cyprus and its other valuable partners. The Bank will continue to actively support the Innovation Centre, in this way investing in the new generation, innovation, and the future.


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