Bank of Cyprus’, IDEA Innovation Centre was awarded the Gold Award in the category ‘Excellence in Partnership’ for its cooperation with the local community/state and the Silver Award in the ‘Cause Advocacy’ category during the Cyprus Responsible Business Awards 2019.
IDEA has evolved into the largest, most integrated and non-profit Innovation Centre in Cyprus. It has succeeded, through a network of partnerships with universities, government and private entities, both in Cyprus and abroad, to bring all stakeholders together and support young people from the idea stage to the sales, investment and expansion stage.
The Innovation Centre supports every year new start-up SMEs: It undertakes to guide and help young people from the idea stage and leads them to the stage of sales, investment and expansion abroad, creating new jobs, promoting Cyprus abroad, and at the same time identifying finance opportunities and angel investment.
IDEA puts trust in our young people and is consciously working to change the culture of the Cypriot society towards innovation and entrepreneurship, building their confidence in their own abilities to make Cyprus a regional innovation hub.
Within its mission, it promotes youth and female entrepreneurship, provides opportunities for people with mobility or other disabilities, and supports women entrepreneurs – mothers of young children in their entrepreneurial journeys.
IDEA also develops a culture of volunteering and ‘giving back’ to the society, approaching well-known, successful businesspeople and organizations. The incubator now has an impressive network of partnerships with mentors, trainers, companies, local and international state agencies.
Since its inception, IDEA has supported 48 start-ups, contributing to youth employment and the Cypriot economy.
Crucial to the above success was and is the support from the Bank of Cyprus and other valuable partners.