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Cyprus’ Young Entrepreneurs Set Record as Stelios Awards Funding Doubles

Record-Breaking Application Numbers

This year, Cyprus witnessed a landmark moment for its entrepreneurial community as 77 applications were submitted for the Stelios Awards for Young Entrepreneurs, marking the highest participation to date. The unprecedented interest underscores the drive and ambition of the nation’s emerging business leaders.

Enhanced Prize Structure for Higher Impact

The awards have evolved notably, with the prize fund now doubled to €200,000. The funding distribution is clear and motivating: €100,000 for first place, €60,000 for second, and €40,000 for third. These incentives, directly funded by Sir Stelios Haji-Ioannou—founder of the easy brand family and the Stelios Philanthropic Foundation—promise to empower innovative ideas and catalyze growth in the start-up ecosystem.

A Platform for Innovation and Growth

Celebrating its third consecutive year in Cyprus, the competition is recognized as a premier stage for young entrepreneurs to showcase their creativity and solid business acumen. Eligibility is reserved for individuals under 34 who have founded a company in Cyprus within the past five years and achieved an annual turnover of at least €40,000. Interviews with selected candidates will commence online, culminating in a highly anticipated awards ceremony on October 7, graced by the presence of the First Lady, Philippa Karsera-Christodoulides.

Broad-Spectrum Philanthropy and Community Impact

Beyond the entrepreneurial accolades, the Stelios Philanthropic Foundation continues to extend its support across several countries, including Cyprus, Greece, the UK, Ireland, Monaco, and France. The Foundation’s initiatives, such as the Bi-Communal Business Cooperation Awards, the Youth Entrepreneurship Awards, and the ‘Food from the Heart’ program, are testament to its commitment to social responsibility. Financial aid to vulnerable groups, disaster relief, and university scholarships further highlight its multifaceted mission to drive positive change.

Looking Ahead

The outcome of this record-setting year is poised to influence the entrepreneurial landscape in Cyprus significantly. As the new generation of business leaders gears up to transform innovative concepts into tangible realities, the Stelios Awards stand as a critical catalyst for progress and economic dynamism in the region.

Cyberattacks On Governments, Infrastructure And Businesses Shape 2026

Cybersecurity has become an increasingly prominent issue in 2026 as cyber incidents continue to affect governments, businesses and critical infrastructure worldwide. Recent attacks have targeted sectors ranging from healthcare and education to energy and public administration, highlighting the growing impact of cyber threats on economic activity and national security.

Questions Remain Over DOGE’s Access To Social Security Data

More than a year after individuals linked to the Elon Musk-led Department of Government Efficiency (DOGE) gained access to systems at the Social Security Administration, questions remain about how sensitive data was handled. Court proceedings are ongoing following allegations that a copy of the Social Security database was transferred to an external server, potentially exposing personal information belonging to millions of Americans.

According to legal filings, the Social Security Administration has acknowledged uncertainty regarding the contents of the server. Lawmakers have warned that, if confirmed, the incident could rank among the largest data breaches involving government records in U.S. history.

Hackers Increasingly Target Water Systems And Energy Grids

Cyberattacks targeting critical infrastructure have continued across Europe, including incidents affecting energy networks and water systems. Authorities in Poland, Sweden and Norway have reported attacks linked to groups believed to be acting in support of Russian interests. At the same time, tensions in the Middle East have heightened concerns about cyber threats to critical infrastructure, particularly privately operated utilities with limited cybersecurity resources.

Iranian Government Hackers Target Stryker

In March, Iranian hackers reportedly carried out a cyberattack against medical technology company Stryker, wiping thousands of employee devices. The incident, attributed to a group linked to Iranian intelligence, disrupted operations and affected the company’s first-quarter financial performance.

Instructure Among Shinyhunters’ Disruptive Hacking Campaigns

The hacking group ShinyHunters has continued to rely on voice phishing techniques to gain access to corporate networks. One of the most prominent incidents involved education technology company Instructure, whose Canvas learning management platform was breached.

The attack exposed personal information belonging to more than 30 million users and disrupted academic schedules during examination periods. Other reported victims include Charter, Carnival and organisations operating in the finance and public sectors.

Supply Chain Attacks Continue To Target Technology Companies

Software supply chains have remained a major target for cybercriminals. Security researchers have linked a series of attacks to compromises involving tools and platforms used by software developers, including Aqua Security’s Trivy, Bitwarden and Checkmarx. Such incidents can have wider consequences across the technology industry because compromised software updates may provide attackers with access to credentials and internal systems.

FBI Reports Major Cyber Incident

The Federal Bureau of Investigation was compelled to declare a “major cyber incident” in April after one of its surveillance systems was breached by actors believed to be linked to Chinese intelligence. This breach, which reportedly exposed the phone numbers of individuals under surveillance, has raised serious concerns about national security and the integrity of federal surveillance operations.

Hasbro Faces Operational Disruptions Following Cyberattack

Toy manufacturer Hasbro experienced weeks of operational disruption after detecting a cyberattack in late March. The company reported website outages and other operational challenges before confirming in May that the attackers had been removed from affected systems. Regulatory filing delays and other business impacts are expected to continue in the near term.

Millions Of Identity Documents Exposed

Several data exposure incidents reported during the year affected systems used for identity verification and customer onboarding. Cases involving a hotel check-in platform, a money transfer service, a prison communications provider and a UK visa portal exposed passports, driver’s licences and other identification documents belonging to more than two million people. The incidents have raised concerns about the security of personal information collected as part of identity verification requirements.

Growing Focus On Cybersecurity

The incidents reported throughout 2026 demonstrate the increasing impact of cyber threats across both public and private sectors. As organisations continue investing in digital infrastructure and artificial intelligence, cybersecurity remains a central concern for governments, businesses and critical service providers.

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