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Cyprus

Olive oil and post office receive innovation awards

THIS year’s Cyprus innovation awards have gone to an organic olive oil company, a pharmaceutical, a tech company and the postal services, for home-grown initiatives that in some way marked an innovative first for the island.

Established in 2006 by the Employers Federation (OEV) and supported by the commerce ministry and the cabinet-appointed Research Promotion Foundation (RPF), the annual awards look back to the previous year’s accomplishments of public or private entities deemed successful in implementing innovative ideas or practices. President Nicos Anastasiades presented the awards at Nicosia’s Hilton Park hotel.

Organic olive oil producers Oleastro Enterprises was awarded for setting up the Olive Park Oleastro in the Limassol village of Anogyra and for boasting the only organic olive oil production in Cyprus.

Pharmaceutical company Medochemie was awarded for developing a new freezing technology aiming to reduce those hefty electricity bills by cutting down on energy consumption. The move contributes to energy saving, helps the environment, and increased the company’s competitiveness, OEV said.

Industrial consumers in Cyprus pay a steep tariff with pharmaceutical companies facing major production costs because of the energy-intensive nature of their industry.

Tech company SignalGeneriX was awarded for developing Wisense, a wireless sensor network platform that can be integrated in existing systems that monitor and control indoor and outdoor conditions in industrial, commercial and environmental settings. The platform is a reliable and low-cost solution against “extremely expensive” alternatives, OEV said.

Finally the postal services were given propos for introducing their round-the-clock parcel delivery service, Parcel24. People can opt receive their parcel whenever they want via automated postal boxes that liberate recipients from fixed working hours and takes away some of the pressure from the postal services’ staff.

Meanwhile, the RPF introduced this year research awards for two age categories, the over 45s and the under 45s who each get a €50,000 grant for research purposes. They went to a University of Cyprus engineer, Ioannis Krikidis and to cognitive psychologist Fofi Constantinidou, also of the Cyprus university, for work in the neurocognitive aspects of aging.

Find out more at www.innovationaward.oeb.org.cy

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