A €500,000 initiative bringing Greek Cypriot and Turkish Cypriot entrepreneurs together to build trust, innovation, and a shared economic future

Stelios Bi-Communal Awards Cyprus 2026

🕒 Estimated reading time: 5 minutes

🔑 Key Takeaways

• €500,000 prize fund supporting joint Greek Cypriot–Turkish Cypriot businesses
• 39 bi-communal teams competing (78 entrepreneurs total)
• Awards ceremony: June 8, 2026, in Nicosia
• Initiative promotes cooperation, trust, and shared economic growth
• Over €5.3 million awarded since the programme began

A Powerful Initiative for Cooperation in Cyprus

Entrepreneurship is once again taking centre stage in efforts to bridge divisions in Cyprus. The Stelios Bi-Communal Awards for Business Co-operation return in 2026 with a substantial €500,000 prize fund, supporting partnerships between Greek Cypriots and Turkish Cypriots.

Meet the Founder Behind the Initiative

Sir Stelios Haji-Ioannou

The initiative was founded by Stelios Haji-Ioannou—the entrepreneur behind the easy family of brands.

Through his philanthropic foundation, he has consistently supported projects that promote cooperation and opportunity. His vision goes beyond business, focusing on building trust and unity across communities in Cyprus.

Cyprus: Invasion, Occupation, and the Human Cost

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The division of Cyprus is not an abstract political issue—it is the direct result of a military invasion and ongoing occupation. In July 1974, Turkey launched a military operation on the island. The intervention expanded rapidly, resulting in the occupation of approximately 37% of the Republic of Cyprus in the north—an occupation that continues today, with tens of thousands of Turkish troops still present.

The human consequences were immediate and devastating. Around 200,000 Greek Cypriots were displaced from their homes in the north, forced to abandon properties, businesses, and entire communities. At the same time, Turkish Cypriots moved to the northern part of the island. Towns were emptied, families were separated, and a deep division was created—one that remains visible to this day.

Among the most painful legacies of 1974 is the issue of the missing persons. Hundreds of Greek Cypriots disappeared during and after the invasion, many of them civilians and soldiers whose fate remained unknown for decades. Families were left in limbo, without answers, holding onto hope while living with uncertainty. Efforts by investigative committees in recent years have helped identify remains and return them to relatives, but the trauma and unanswered questions continue to weigh heavily on Cypriot society.

Since 1983, the northern part of the island has been declared the “Turkish Republic of Northern Cyprus,” recognised only by Turkey. The international community, including the United Nations and the European Union, recognises the sovereignty of the Republic of Cyprus over the entire island. A UN-controlled buffer zone—the Green Line—divides the country and runs through Nicosia, the last divided capital in Europe.

Despite decades of diplomatic efforts, a comprehensive political solution has not been achieved. The situation remains unresolved, shaped by occupation, displacement, and the enduring memory of those who never returned.

Within this difficult reality, initiatives such as the Stelios Bi-Communal Awards for Business Co-operation, supported by Stelios Haji-Ioannou, offer a different kind of pathway. They do not erase the past or resolve the political conflict, but they create opportunities for cooperation between Greek Cypriots and Turkish Cypriots at a human level.

By supporting joint business ventures, the awards encourage communication, trust, and shared goals between individuals from both communities. In a landscape marked by division and loss, these collaborations represent small but meaningful steps toward coexistence—grounded not in politics, but in everyday partnership and mutual benefit.

The history of Cyprus remains complex and painful. Yet even within that reality, efforts that bring people together—however modest—carry a quiet but important hope for the future.

Bringing Communities Together Through Business

This year’s competition will feature 78 entrepreneurs forming 39 joint business teams, all working together across community lines. Their goal is not only business success, but also to promote trust, understanding, and long-term cooperation.

The awards ceremony will take place in Nicosia on June 8, 2026, at the Stelios Philanthropic Foundation headquarters. Cyprus President Nikos Christodoulides is expected to attend.

Prize Breakdown: Rewarding Innovation and Partnership

• 🥇 Gold Award: €150,000 (€75,000 per partner)
• 🥈 Silver Awards (2 teams): €200,000 total (€100,000 per team)
• 🥉 Bronze Awards (6 teams): €150,000 total (€25,000 per team)

A Long-Term Commitment to Unity

Now in its 16th year, the programme has already distributed over €5.3 million.

Stelios Haji-Ioannou highlighted the broader impact:

“Entrepreneurship can serve as a catalyst for meaningful cooperation and trust… each joint business is a step toward peaceful coexistence.”

Hope

Cyprus remains a divided island, but initiatives like this show how business can act as a bridge—creating real opportunities and fostering a shared future.