Young innovators praised as Stelios Awards mark record participation

Entrepreneur and philanthropist Sir Stelios Haji-Ioannou awarded a total of €200,000 to three young Cypriot businesses during the 2025 Stelios Awards for Young Entrepreneurs, held at the Stelios Philanthropic Foundation headquarters in Nicosia.

The awards, now in their third consecutive year, aim to recognise innovation and support the growth of youth entrepreneurship in Cyprus.

The first prize of €100,000 was presented to George Chrysostomides for his Shopify website creation company, “Shrine”.

The second prize of €60,000 went to Chrystallena Poulli for her plant-based cosmetics company, “CP Herbalist”.

The third prize of €40,000 was awarded to Harout Chouldjian and Panayiotis Frantzesko for their international online shapewear clothing company, “Luxmery”.

This year’s edition of the awards attracted a record number of participants, solidifying its status as a key platform for innovation, creativity, and the empowerment of Cyprus’ young entrepreneurs.

Sir Stelios Haji-Ioannou congratulated the three winners via Zoom, expressing his admiration and support for the new generation of Cypriot entrepreneurs.

The First Lady, Philippa Karsera Christodoulides, presented the first prize to George Chrysostomides.

The second prize was delivered by Rena Rouviha Panou, member of the Board of Directors of the Stelios Philanthropic Foundation in Cyprus, while the third prize was presented by Maria Lafazani, one of last year’s winners, adding a symbolic and inspirational touch to the event.

Accepting the top prize, George Chrysostomides said “I would like to express my gratitude to Sir Stelios Haji-Ioannou for the great honour and recognition this award represents.”

He said that Sir Stelios’ long-standing support for young entrepreneurs “has been a shining example for Cypriot society and an inspiration for all of us who are trying to build our own businesses.”

“This distinction is not just a formal award,” he said, adding that “it is a reminder that innovation, perseverance, and creativity are recognised when accompanied by hard work and a clear vision.”

Chrysostomides said “this award is an opportunity for me to give back to the society that supported me from my first steps.”

He announced that “the €100,000 prize money will not be invested in my company, but rather donated to charitable causes and to young people of my generation who have already begun their own ventures and need that extra push to continue.”

“I firmly believe that supporting and empowering young people is the most effective investment in the future,” he said, encouraging others to participate in the awards, adding that “ideas gain power through this initiative.”

“The contribution and work of Sir Stelios Haji-Ioannou proves in the clearest way that Cyprus can become a place of creation, growth, and opportunity,” he stated.

Chrystallena Poulli, winner of the second prize, expressed her gratitude, saying “I would like to thank Sir Stelios Haji-Ioannou and the Stelios Philanthropic Foundation for this important distinction, which recognises my effort, passion, and vision, giving me the strength to continue with even greater dedication.”

She added that “for CP Herbalist, this award is a valuable boost for the future,” noting that the €60,000 prize will be used “to purchase a specialised cream production machine, which will enhance production capacity, enrich the product range, and support export growth, while also creating new jobs in Cyprus.”

She encouraged young entrepreneurs to “believe in their dreams and take part in the Stelios Awards for Young Entrepreneurs, as it offers a unique opportunity for recognition and support in taking the next big step.”

Harout Chouldjian and Panayiotis Frantzesko, who won the third prize for Luxmery, said “this award is a special honour, as in Sir Stelios Haji-Ioannou we see not only one of the few Cypriots who have reached the top of the global business world but also a living example that with vision, hard work, and social contribution, dreams can come true.”

They said “this distinction is not only recognition of our journey so far but also a starting point for even more ambitious steps.”

They explained that the prize money “will be invested in the most valuable capital, our people.”

Through their company TCC Ventures, an e-commerce aggregator, they said they intend “to guide and develop talented ‘A-players’ in Cyprus into future collaborators in globally competitive brands.”

They encouraged others to “take the leap and participate in the Young Entrepreneurship Awards.”

Addressing the ceremony, First Lady Philippa Karsera Christodoulides said “these awards are much more than financial support. They are an act of trust in the young people of Cyprus, in their ability to create, innovate, and evolve.”

She added that “this recognition serves as a catalyst for young entrepreneurs, giving them the opportunity to take the next step, to be inspired, to drive job creation, and to contribute to our country’s economic progress.”

Speaking during the awards ceremony, Sir Stelios Haji-Ioannou said “I feel proud because the Stelios Awards for Young Entrepreneurs are evolving and are now established as an institution that inspires and supports youth entrepreneurship in Cyprus.”

He said “this year broke every record with 77 innovative entries, making the selection of winners difficult, which is the strongest proof of the new generation’s talent and strength.”

He explained that “three start-ups stood out, each operating in distinct yet promising sectors, such as digital services, international fashion e-commerce, and plant-based cosmetics.”

“These represent three different paths united by innovation, passion, and creativity,” he said.

He congratulated not only the winners but all participants who submitted their proposals, urging them “to continue with determination,” adding “to those who did not win this year, my message is: try again in 2026.”

“I am committed to continue supporting the younger generation with consistency and stability because that is where tomorrow’s leaders are shaped and where Cyprus’ future is built,” Haji-Ioannou said.

“Every young entrepreneur who dares to turn their dream into reality is proof to me that Cyprus has inexhaustible potential,” he concluded.