The European Commission has issued the Green Paper in 1990, in which Innovation is defined as follows:“the successful creation, incorporation and use, of something new, in economic and social level”

Innovation may comprise of the effective implementation of new procedures or the use of new technology aiming to satisfy the demand/customer or to solve a problem within the company, society or economy.


The award will be presented following an evaluation of the application forms and bearing in mind the following criteria:

By submitting their application, participants are committed to provide any additional details, proof and information which may be demanded by the Evaluation Committee.


Applications with be examined by the Evaluation Committee which is made up of independent experts from Cyprus. It is possible that during the evaluation, specialists on other issues may be asked to offer their expertise, depending on the Committee’s discretion.


Those entitled to participate in the “Cyprus Innovation Award” competition are legal persons (company, corporation, other legal entity) operating in Cyprus, which have innovated and are in position to prove the successful application of their innovation. The sector of activity of each participant must fall within one of the sectors which are described above. Only one application for each award can be accepted from each legal person/organisation.



The duly completed Application Forms for the competition must be submitted at OEB’s Οffices:

- 4 Cyprus Employers & Industrialists Federation Street (former Glafkou street), Nicosia 2000 (tel. 22 643 000),

- or P.O. Box 21657, 1511 Nicosia,

in a sealed envelope marked “Cyprus Innovation Award”.

Last day of submission is the 14th July 2023. Application forms are available at OEB’s offices or at the Award’s website at the following address:

The “Cyprus Innovation Award” has been placed under the auspices of the Deputy Ministry of Research Innovation and Digital Policy and the Research and Innovation Foundation.

Application Form - Αίτηση Συμμετοχής