Nicosia: Sir Stelios Haji-Ioannou has announced a £500,000 prize for the winners of the Bi-Communal Awards, aimed at fostering cooperation between Greek Cypriot and Turkish Cypriot entrepreneurs.
According to Cyprus News Agency, the Stelios Philanthropic Foundation released a statement outlining the awards' goal to create business opportunities and encourage joint development and peaceful coexistence in Cyprus.
The awards have drawn the participation of 78 entrepreneurs from both communities, forming 39 two-member bi-communal teams that will compete for the cash prize. The nine business teams that demonstrate exceptional cooperation, innovation, and dynamism will receive the prize money. Specifically, the Gold Winner will receive £150,000, with each entrepreneur in the team getting £75,000.
Additionally, two teams will earn the Silver Prize, sharing £200,000. Each Silver Winner team will be awarded £100,000, with £50,000 going to each entrepreneur. Six teams will receive the Bronze Prize, totaling £150,000, with each team getting £25,000 and £12,500 per entrepreneur.
Sir Stelios highlighted entrepreneurship as a potential catalyst for building trust and cooperation between the two communities. He emphasized that each joint business initiative represents both an economic investment and a significant step towards reinforcing mutual understanding and peaceful coexistence.
The awards ceremony is scheduled for Monday, June 8, at 11:00 a.m. at the Stelios Philanthropic Foundation's headquarters in Nicosia. The President of the Republic of Cyprus, Nikos Christodoulides, will attend the event.
Marking its 16th anniversary, the Stelios Bi-Communal Awards for Business Co-operation is recognized as one of the most enduring initiatives promoting bi-communal cooperation in Cyprus. The total value of the awards over the years has reached £5,300,000.
The Stelios Philanthropic Foundation aims to contribute to society by supporting various charitable activities across Cyprus, Greece, the United Kingdom, Ireland, Monaco, and France, where Sir Stelios and his family have resided and worked.