Nominations

Eligibility

• The entrepreneur should be the owner or have a significant equity shareholding in the business (10% at least) and is responsible for the business growth over the past few years (publicly listed companies will be assessed on a case-by-case basis).

• The entrepreneur is an active member of the company management for at least two consecutive years (e.g. Executive Board, Management Board or Supervisory Board) and has a key influence on decision making.

• The business must be headquartered or have its core operations in Cyprus (subsidiaries of foreign entities are sometimes allowed into the competition but need to be thoroughly examined and discussed).

• The business must have been incorporated for at least 2 years as of 1st January 2022, with active revenue stream of more than 3 million Euro.

• The business must have minimum of 10 employees.

Judging Criteria

1. Entrepreneurial spirit
   
   
   • Sets high standards and demonstrates a desire to be successful
     
   • Takes risks and overcomes significant obstacles
     
   • Demonstrates perseverance and learns from experience
      
2. Value creation
   
   
   • Creates value for stakeholders
   • Drives strong financial performance
   • Develops human capital
   • Drives strategies for long-term sustainable results
      
3. Strategic direction
   
   
   • Develops a vision with goals for future growth and expansion
   • Builds an effective team and strategic alliances
   • Measures and benchmarks progress against goals
      
4. National and global impact
   
   
   • Increases market share
   • Enables international growth and reach
   • Expands into new markets
      
5. Innovation
   
   
   • Pioneers new approaches or technologies
   • Develops products and services ahead of the market
   • Builds a culture of innovation and invests in research and development
      
6. Purpose-driven leadership
   
   
   • Demonstrates personal values that earn respect from key stakeholders
   • Maintains the highest ethical and quality standards across the business
   • Commits the organisation to an inspiring purpose
   • Enables a more sustainable future for all

Benefits

• Exclusive network: Winners become part of an influential and exclusive community, that of the “Entrepreneur Of The Year alumni” which represents some of the most influential, innovative and exclusive entrepreneurs in the world. At the same time winners gain access to investors, key business leaders, speaking engagements and media opportunities.

• Brand awareness: Just being nominated can elevate awareness of your company through exposure to other entrepreneurs, sponsors, judges and guests. The winners also benefit from significant awareness internationally which could drive the next phase of your company’s growth.

• Recognition: For contribution to the community, entrepreneurial sector and national economy.

• Strong relationships: Investors, customers and potential recruits take notice of finalists and winners. Employee morale can be lifted across the organisation.

Timeline

September - October
Launch of the EY Entrepreneur Of The Year Cyprus program.
Nominations and participation are accepted during this period.
Complete the nomination form and submit it by 31st October.

November - December
An on-site interview with the nominee will be conducted to gather more information.

January
The judging panel will convene to select the Cyprus finalists and country winner for the year. Shortlisted entrepreneurs deliver a presentation to the independent judging panel, focusing on what is special about them and their business.

February
The Cyprus country winner will be announced at the Cyprus awards ceremony and will go on to represent Cyprus at the prestigious EY World Entrepreneur Of The Year black-tie reception and awards gala in Monte Carlo, Monaco.

Nomination Tips

A strong, well-written nomination is powerful and compelling to the judges. Consider these points when completing the nomination form:

• Tell your story: This is all about one of the most prestigious business awards in the country. Humility has its time and place - this isn’t it. Write your narrative in the third person. It’s easier to be creative and expand on what you’ve done when you write from this perspective.

• Understanding the evaluation process: Focus on the criteria the judges look for.

• Make it engaging: Your story should be truthful, vivid and engaging. Make it stand out.

• Be concise: Keep to the word count. Brevity is a virtue here.

• Demonstrate results: You can't measure dreams, but you can quantify growth. Use specific numbers, percentages and statistics.

• Compare yourself to others: How do you stack up to the competition and differentiate yourself in the market? Convey those factors, remembering that the judges may be unfamiliar with your industry.

• Persuade: Convince the judges that they’re reading about a real winner. Be authentic. Be enthusiastic.

• Polish and edit: Write it. Take a break. Then go back and read it with fresh eyes, changing what you need to make it shine.

• Be on time: Nomination submissions are due with a firm deadline 31st October.