This document summarizes the winners of the 2014 Cyprus Entrepreneurship Competition (CyEC). It describes the top three prize winners: Instaplace, which won first prize for its social directory mobile app; StartBinaries, which won second prize for its binary options brokerage cloud solution; and Viridom, which won third prize for its cloud-based energy management and data analytics platform for buildings with local electricity production. It also mentions two honorary mention prize winners, Tellalis for connecting creative ideas to professionals, and IrisPhone for its modified smartphone interface designed for elderly users.

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WINNERS 2014
Instaplace – The Social Directory (First Prize €8,000)
Instaplace is a unique mobile application that aims to keep users connected with great businesses by aggregating all
the information to easily discover where to go and things to do, based on location, personal preferences and friend
suggestions. It is a powerful tool for businesses due to the information gathered from users. This information may be
utilised by businesses in order to easily segment and target users based on multiple targeting options. Instaplace is an
advertising platform where businesses can easily create and manage their own profile.
StartBinaries (Second Prize €4,000)
StartBinaries is a fully­fledged
Binary Options Brokerage Cloud Solution. We provide our clients with a unique service
­competitive
pricing models for start­up
and established brokers, 1­hour
integration time together with Artificial
Intelligence market­making
capabilities, anonymiser “Chinese Wall” between the technology provider and the brokers’
CRM, accountability and transparency for traders and regulatory bodies.
Viridom (Third Prize €2,000)
VIRIDOM is a cloud­based
platform providing energy management and data analytics for buildings, especially those
involving local electricity production systems (e.g. photovoltaics) and/or battery storage. These environments are
called Nanogrids. VIRIDOM’s vision is to help people (i.e. nanogrid users) understand and control their electricity
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2. consumption and production, realize financial gains, and enjoy a better, greener environment. VIRIDOM serves as the
bridge between the nanogrid electricity user and the power utility. More specifically, VIRIDOM puts nanogrid electricity
users in realtime control of their consumption, production and storage, while at the same time it facilitates true
automated demand­side
management and fuels customer engagement for the utility companies. In this way,
VIRIDOM provides the basis over which utilities could rebuild trust with their consumers.
Tellalis (Honorary Mention Prize €250)
The vision is to connect creative ideas to people that can make them happen. We allow individuals and corporations
to access creative talents, such as designers, artists, photographers, and manufacturing professionals such as
suppliers, craftsmen, to reinforce those ideas into matter. At the same time we offer to a variety of creative
professionals (freelancers or companies) and professional makers to promote their talents and services in order to
come closer to opportunities (job offers, collaborations etc). We offer a comprehensive package of services to
implement creative ideas. We offer support and advice on project implementation with the help of our strategic
partners. In that way we aim to revolutionize how the creative and manufacturing industry performs by democratizing
the interaction between people in order to produce faster quality results.
IrisPhone (Honorary Mention Prize €250)
The Iris Phone was developed for an easier and more intuitive interaction between smartphones and the elderly as
well as people with temporary or permanent disabilities, specifically reduced dexterity of the hands and fingers, as well
as those facing memory problems.
The concept is very simple ­it
is a modified Android Smartphone, with a specialized interface that allows it to work
entirely with NFC technology. No need to press any buttons, or use the touchscreen. Instead, the user can place the
phone on an image to execute the desired command. These images have been grouped together on a plastic base
that we designed, where the phone is also wirelessly charged.
WECY souvenir project (Honorary Mention Prize €250)
The tourist industry needs a new approach to souvenir products. Our proposal looks into providing a design approach,
enable for the new range of souvenir products to provide a new and alternative buying solution to tourists. A well­designed
product increases the “value” of an item and at the same time its selling potential. A made in Cyprus for
Cyprus approach is used. The use of high tech machinery is extensively used for the manufacturing of existing
souvenir products designed by the team. Moreover, the use of online shopping for selling the souvenir products allows
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3. for a global reach in potential clientele. Our customer is anyone who has an emotional bond with Cyprus whether that
came about from a short visit as a tourist or from permanent residence on the island. The market we are primarily
targeting is the tourist industry, which offers a significant earning potential in terms of income as it has an inclination to
buy such products but also is at multiples to the island's current population. We consider our competitive advantage is
sustainable due to its originality and the potential to offer competitive pricing if we manage to mass­produce.
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4. CyEC 2012 ­Cyprus
Entrepreneurship Competition