Action for Young Enterprises for Cyprus

The CIIM Business School and the Management Centre are launching the 2007-2008 Business Plan Competition on Thursday at the Goethe Institute, next to Ledra Palace, Nicosia in order to encourage and promote youth entrepreneurship across the island.

The initiative ‘Action for Young Enterprises for Cyprus’ (AYEC), is funded by UNDP-ACT and has the support of the Cyprus Academic Forum and the local Chambers of Commerce and Industry.

The competition is open to young, aspiring entrepreneurs, including students, graduates, young professionals, creative employees and social entrepreneurs, and a total of EUR 7,500 will be handed out in awards for the winners.

The AYEC model of promoting youth enterprises is directed by the results of a survey of youth attitudes and experiences on entrepreneurship and more specifically on what drives young people to start their own business.

At the launch conference on Thursday, AYEC officers will outline key steps, procedures and training that will offered to young entrepreneurial teams, in order to enable them to formulate their creative ideas into winning business plans. Dr Panikkos Poutziouris of CIIM Business School will present the results of the entrepreneurship survey which involved 250 persons between the ages of 18-38.

Dr Poutziouris, AYEC project leader for 2007-2008, said that “the initiative is paramount for the entrepreneurial development of our island’s economy. The more youngsters realize their entrepreneurial dreams, the more growth corridors open for all of us, across all walks of life”.

The AYEC event will also be addressed by the presidents of the local Chambers of Commerce and Industry and local entrepreneur Dinos Lordos who is heading the Jury Committee.

For more information on the AYEC initiative and the Business Plan competition, contact [email protected] or visit www.ayec.org