NICOSIA: Sir Stelios Haji-Ioannou, the founder and president of the Stelios Philanthropic Foundation, has announced an increased prize fund for the Stelios Bi-Communal Business Cooperation Awards. This year, the awards will distribute a total of £410,000 to support 20 entrepreneurs from both the Greek Cypriot and Turkish Cypriot communities.
According to Cyprus News Agency, the Stelios Bi-Communal Awards, now in their 15th year, have become a significant institution in Cyprus, fostering collaboration between the island’s two main communities. The foundation’s recent announcement brings the total prize money distributed since the awards’ inception to £4.8 million. This initiative continues to promote peace and economic cooperation between the two communities.
This year’s awards will see 10 bi-communal business teams sharing the £410,000 prize fund. The distribution will include a Gold Award of £100,000, two Silver Awards of £50,000 each, and seven Bronze Awards of £30,000 each. These amounts will be divided equally among the team members.
Applications for the awards will open on January 2 and close on February 28. Eligible applicants must be Greek Cypriot and Turkish Cypriot business owners with a minimum annual turnover of £10,000 and at least one employee. They must also demonstrate active collaboration between the two communities. Previous participants are encouraged to apply again if they meet the criteria.
The winners will be announced in April 2025, with the award ceremony scheduled to take place at the Stelios Philanthropic Foundation Headquarters in Nicosia. Sir Stelios emphasized the importance of economic cooperation for building trust and understanding between the communities, contributing to lasting peace on the island.