Ready to meet our next European Enterprise Promotion Awards (EEPA) 2019 winner? Meet IDEA Innovation Centre & Incubator – Accelerator for Start-ups from Cyprus, the winner of Investing in Entrepreneurial Skills !
IDEA is an innovation centre and incubator and acts as an accelerator for startups. In order to invest in entrepreneurial skills, IDEA undertakes a cluster of activities that focus on providing an entire spectrum of business support, positively altering perceptions of entrepreneurship, facilitating cross-sector cooperation, promoting Cyprus as an innovation hub, developing investment networks, promoting volunteering, and ensuring entrepreneurship is open to all regardless of gender, age or ability. Social inclusion is put into practice through inclusive entrepreneurship, specifically opening doors to entrepreneurs with special needs. To date, IDEA has developed 48 New Businesses and created over 70 new jobs.
How did you first hear about the national competition and why did you decide to enter?
In 2018 our Cypriot Ministry of Commerce, Industry & Energy informed all of our national institutions about the competition. We applied back in 2018 and went on to become two of the national winners and participate in the SME Assembly in Graz. We were so impressed by the magnitude of the organisation, the valuable knowledge gained and the very focused networking opportunities, that we decided to apply again in 2019, and really showcase how our project could bring valuable, win-win relationships for both us and our European partners.
How did you prepare your application?
The ‘preparation’ for the application was our intense activity over the past four years. We needed to organise all the information and experience that we had gathered to demonstrate the extent of our activity, our commitment and the EEPA values that it represents. At this point, we were amazed by the willingness of our community (government partners, startups, associates, collaborators and friends) to support our candidacy and provide their own testimony for our work.
Writing the application was a team activity that had its own ‘local’ results as well! It brought our team closer and boosted our confidence. It also brought our collaborators closer to us and their support was incredible!
What was it like to win the award?
The award made the whole of Cyprus proud! It proved that it is not the size of the country that matters, but the ambition, vision and extent of collaboration that count. Through our win we inspired confidence and showed the rest of Cyprus that we can achieve great things in the areas of innovation and entrepreneurship. We proved that by applying the values of sharing, giving-back and creating opportunities, the benefit comes back to all of us involved. Winning this Award is a noble endorsement from our European Family.
Being in Helsinki and experiencing the moment was amazing, and even though not all of our team could make it to Helsinki we were all there together in spirit. This illustrates another beautiful side of Europe: In the same way that it brings businesses together, it brings people together, and we are grateful for this.
How did winning the award impact your work?
Winning an EEPA has given us a lot of publicity in national press, across both printed and digital channels. We have also received congratulations from the government, business associations and from so many people. Most importantly, we made our partners and supporters proud, and we would like to especially mention the visionaries at the Bank of Cyprus, that believed and supported IDEA since its inception.
For us, the IDEA team, who invest a significant amount of personal time and voluntary work into the IDEA project, being the winners of a prestigious EEPA is a powerful motivation to continue our work and keep aiming higher.
Why should others enter EEPA 2020? What advice would you give them?
At IDEA, we believe that setting very ambitious targets is motivating, drives us to achieve more and brings out the best in us. Winning an EEPA is a very ambitious target therefore; we encourage institutions with intense, comprehensive and passionate activity to chase it! When you prepare for an EEPA it is a chance to demonstrate the true extent of your efforts and activity, as well as a valuable opportunity for international collaboration.
What are your plans for the future?
IDEA really strives to create an innovative culture and form a cluster of activities to boost innovation and entrepreneurship in our small country through partnerships and hard work. We have just opened our 5th cycle for new startups and will continue towards the creation of viable businesses with higher focus on their extroversion.
At the same time, we aim to strengthen the business innovation bond between Cyprus and our European partners, and exploit the unique position of Cyprus at the cross-roads of three continents. We are proud to belong to the European family and are determined to transform Cyprus into a regional innovation hub, and a bridge between Asia, Africa and Europe.
Keep coming back to Promoting Enterprise for more EEPA 2019 winner testimonials and don’t forget to watch their winning moments on our YouTube channel: