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The Centre for Entrepreneurial Development – Alliance - Research [CEDAR], in cooperation with UCLan Cyprus are launching the Business Idea Competition 2016-2017 (BIC 2016-17). This initiative is co-organised with a number of stakeholder organisations interested in the promotion of entrepreneurship and new venture development, including: Cyprus University of Technology, University of Cyprus, Open University Cyprus, Cyprus Chamber of Commerce and Industry, Junior Chamber International (Cyprus), Youth Board of Cyprus/ KEPLI, CYBAN, CyRIC, StudentLife, DisruptCyprus, INSPIRE, KOGEE-Cyprus Federation of Business and Professional Women, and UK-based EPISTEME and the UK Cyprus Enterprise Council.
An entrepreneur is a driver of innovation and a vehicle of social and economic development. BIC 2016-17 aims to encourage everyone to engage in the entrepreneurial exchange, to pursue business start-ups and to act as catalysts for further entrepreneurial developments in the country.
The competition is open to enterprising youngsters, students, MBAs, Alumni, young professionals, social enterprisers etc., who are keen to explore the potential of their business ideas.
Participation in the competition is open to individuals or groups (maximum 3 participants per group).
Those interested in participating in the competition are encouraged to register their interest, by email at firstname.lastname@example.org, providing their team names, emails, and city of residence.
Training workshops will be provided to offer support, business mentoring and guidance on how to develop a winning business proposal.
In brief, the guidelines for the 2-page business idea proposal are as follows:
• Title of the Business Venture and a code name
• Name of Applicant(s), credentials, profile of team, including lead person
• What products and/or services will the business offer?
• What is the target market & who are the potential competitors?
• Why the venture is innovative and how it will outsmart rivals?
• How it will plan operations, distribution lines; marketing strategy?
• What are the financial needs and resource requirements for the early stage growth?
• What is the next stage of business development?
A jury comprising academics, entrepreneurs, business angels, and other professionals will evaluate all eligible proposals. The shortlisted teams nominated for awards will be invited to present their business ideas at the award ceremony which is to be scheduled in May 2017 and will be under the auspices of the Ministry of Energy, Commerce, Industry and Tourism.
• Best Business Idea: €1,500 sponsored by KPMG
• Best Innovative Idea: €750 sponsored by Gravity
• Social Enterprising Idea: €500 sponsored by UCLan Cyprus MBA
- There will be opportunities for award winning teams to be invited to offer presentations to financiers and members of CYBAN and to participate at UCLan MBA forums and get consultancy support
Click here to download the Training Workshops schedule
For more information, updates and timetable for start-up business training workshops you can visit our website www.cedar.org.cy/bic/201617 or CEDAR Facebook CEDAR.entrepreneurship or contact Dr Elias Hadjielias, BIC 2016-17 initiative leader via email@example.com or on +357-24-694000.
Acting as Catalysts for Entrepreneurial Development www.cedar.org.cy
Download BIC 2016-17 submission guidelines & criteria
Download BIC 2016-17 idea proposal template
BIC2016-2017 Workshop Registration