In cooperation with partners, the Centre for Entrepreneurial Development and Research [CEDAR] of UCLAN Cyprus is launching the Business Idea Competition 2013. This initiative is co-organised with a number of stakeholder organisations interested in the promotion of entrepreneurship and new venture development, including: Larnaka Chamber of Commerce and Industry, Famagusta Chamber of Commerce and Industry, Junior Chamber International Cyprus, Women’s Coop Bank, Cyprus Federation of Business and Professional Women, Cyprus Network of Female Entrepreneurship Ambassadors, Anaptixiaki – ANETEL and UK based EPISTEME and National Federation of Cypriots.

Entrepreneurship is a driver of innovation and a vehicle of social and economic development. The Business Idea Competition 2013 aims to encourage Cypriots 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 aspire to venture out and are keen to explore the potential of their business idea. Participation in the competition is open to individuals or groups (maximum 3 participants per group).

Those interested to participate in the competition are encouraged to register their interest with organisers, by emailing  to  [email protected] , simply enlisting their team names and emails. Training workshops will be staged to offer support, business mentoring and guidance on how to develop a winning business proposal.

In brief, the guidelines for the 4 page business idea proposals are as follows :

• Title of the Business Venture and a code name
• Name of Applicant(s), credentials , profile of founding team – leading person
• What products and/or services will the business offer?
• What is  the target market & who are potential competitors?
• Why the venture is innovative and how it will outsmart rivals?
• How it will work out 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 and entrepreneurs will evaluate all eligible proposals. The shortlisted teams nominated for awards will be invited to present their business ventures at the award ceremony which is to be scheduled in early June.

• 1st  Award €1,500  sponsored by Alpha Bank
• 2nd Award €1,000  sponsored by  Demetrakis Koumandari Foundation
• 3rd  Award , complimentary registrations on UCLAN MBA Module : New Enterprise Venture Development

 For more information and updates about this initiative contact Elias  via  [email protected]  or on +35724812121