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What is CyEC
Fostering Innovation and Entrepreneurship for Positive Impact
At the Cyprus Entrepreneurship Competition (CyEC), our mission is to nurture a thriving entrepreneurship culture. From students to young researchers, academics, administrative staff, and graduates, we aim to ignite the entrepreneurial spirit and provide a platform for transformative ideas to flourish. We aspire to contribute to developing a healthy and innovative business ecosystem in Cyprus. Leveraging the research results, infrastructure, and expertise available within the University, we seek to empower aspiring entrepreneurs to compete globally and drive positive change.
The Cyprus Entrepreneurship Competition is more than just a business plan competition; it’s a transformative journey for early-stage entrepreneurs.
Participants are offered a unique opportunity to hone their ideas, enhance their business acumen, and build valuable networks. We create an empowering environment for growth through thoughtfully designed workshops in collaboration with local and international partners, impactful mentoring sessions, and engaging networking events.
We are driven by a passion for sustainable solutions that address real and global challenges through entrepreneurship, technology, and innovation. We seek ideas that have the potential to make a significant impact on a worldwide scale, and we are committed to nurturing ventures that can contribute positively to society.
Accelerator Structure
Teams accepted into the accelerator will take part in classes and workshops hosted at the University of Cyprus’s Center for Entrepreneurship.
Business Canva Class
Teams will learn how to clearly define and structure their startup idea using the Business Model Canvas. The session covers each of the nine building blocks and guides participants in mapping out their value proposition, target customers, channels, revenue model, and key operations.
Financial Projections Class
This class guides teams through the basics of building financial projections, including forecasting revenues, estimating costs, and projecting cash flow. Participants will learn how to create realistic 1- to 3-year projections that align with their business model and support investor conversations.
Market Competitiveness (Value Proposition)
This session helps teams define what truly sets them apart. A strong value proposition is the foundation of market competitiveness, it identifies how your solution addresses a problem better than others and helps you carve out your niche. Participants will learn why it's critical to pinpoint this early and how it shapes positioning, messaging, and long-term strategy.
Market Segmentation & Data Analysis Class
This class teaches teams how to identify and segment their target market using real data. Participants will learn to analyze customer behavior, define ideal user profiles, and make data-driven decisions to refine their go-to-market strategy.
Product Design / Ideation
In this session, teams will explore techniques for refining their core product or service idea. Through guided exercises, participants will define user needs, brainstorm solutions, and begin shaping a product that aligns with both market demand and their value proposition.
Pitching Skills Workshop
This session prepares teams to confidently present their startup to potential partners, mentors, and investors. Participants will receive a short lecture and a standard pitch deck template aligned with the accelerator’s guidelines. As a key deliverable, each team will develop and refine their own pitch. The session also includes hands-on practice and feedback to strengthen presentation skills and messaging clarity.
Business Plan & Revenue Models Class
In this session, teams will be introduced to a simple Business Plan template and begin drafting their own as part of their program deliverables. The class will place special emphasis on developing a strong, realistic revenue model that aligns with their business goals and market strategy.
Building to Scale
This session focuses on how to design both your technology and business model for growth. Teams will explore what it means to build for scale, from choosing the right tech infrastructure to creating systems and strategies that support expansion into global markets.
Pitch Deck Preparation
In this session, teams will create and refine their pitch decks using the accelerator's standard template as a guide. While the template provides structure, teams are expected to adapt it by incorporating their own branding, tone, and visual identity. Participants are also free to use alternative templates if preferred. The session includes feedback and support to ensure each deck is clear, compelling, and aligned with investor expectations.
Entrepreneurial Mindset
This session helps teams develop the entrepreneurial mindset needed to navigate uncertainty and turn ideas into action. Participants will explore how entrepreneurs think differently, spotting opportunities, embracing calculated risks, and adapting quickly, and why this mindset is essential for driving innovation and growth. They’ll leave with practical tools to approach challenges creatively and move their ventures forward with confidence.
Looking for Ambitious Teams
At CyEC, we seek ambitious teams eager to accelerate their ideas’ development. We value agility and adaptability, recognizing the importance of finding the best problem-solution fit and product-market alignment. We aim to support teams hungry for growth and an unwavering commitment to turning their ideas into impactful realities.
At CyEC, we invite you to be part of our vibrant community. Whether you are an aspiring entrepreneur, an academic, a researcher, or a passionate supporter of innovation, your participation is instrumental in shaping a brighter future through entrepreneurship.
Together, let’s drive change, build impactful ventures, and foster an ecosystem of innovation and entrepreneurship that propels Cyprus onto the global stage. Welcome to the journey of limitless possibilities!