ABOUT

The Cyprus Innovation Awards competition is an initiative of the Cyprus Employers and Industrialists Federation (OEB) and it is organized since 2006 with the aim to recognise and reward companies / organizations that have innovated by successfully implementing their idea into practice. The Innovation Awards are considered the highest distinction of the successful implementation of innovation in Cyprus and was recognized as a Good Practice in the European Union.

The Innovation Awards institution is fully supported by the Cyprus Government through a decision of the Council of Ministers and is actively supported by the Deputy Ministry of Research, Innovation & Digital Policy a well as the Research and Innovation Foundation (IRD).

Επιπρόσθετά, ο διαγωνισμός του 2025 εντάχθηκε στο πρόγραμμα των εκδηλώσεων της Εβδομάδας Ευρωπαϊκών Μικρομεσαίων Επιχειρήσεων (SME Week) , organised by the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs of the European Commission — a further European-level recognition of OEB’s longstanding contribution to the promotion of innovation and business excellence.

DEFINITION OF INNOVATION

In 1990 the European Commission issued the Green Paper on Innovation, where Innovation is defined as follows:

"the successful production, assimilation and exploitation of novelty in the economic and social spheres”.

Innovation may also include the effective implementation of new processes or the utilization of new technology, with the aim of satisfying the demand / customer or solving a problem within an organization, the society or the economy.

RIGHT TO PARTICIPATE

The following are eligible to participate in the competition:

EVALUATION CRITERIA

Each of the four Awards is presented following the evaluation of the applications and taking into account the following criteria:

REGULATIONS
OF PARTICIPATION & CLARIFICATIONS

EVALUATION OF APPLICATIONS

The applications are assessed by the Evaluation Committee, which consists of seven persons with indisputable knowledge:

During the evaluation process, depending on the judgment of the Committee, it is possible to use the knowledge of experts on very specific topics.

The Secretary of the Committee is a member of OEB Secretariat without the right to vote.

SUBMISSION OF APPLICATIONS

Applications for participation in the competition must be submitted online via the platform innovationaward.oeb.org.cy by October 31, 2025.

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