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Annual Report 2016-2017


Contents FOREWORD BY CHAIRPERSON: Year in Review


CEO WELCOME: A Year Full of Growth                                                                                                                                        ABOUT JA CYPRUS: Inspiring the Youth of Today                                                                                                                           

2 3

THE JA STUDENT EXPERIENCE: An Important Synergy                                                                                                             4 JA APPROACH TO ENTREPRENEURSHIP EDUCATION: A Gradual Progression 


OUR IMPACT: A Growing Network


PROGRAMMES: Four Engaging Programmes


        I. COMPANY PROGRAMME:  European Union Recognised Best Practice 


                  THE ENTREPRENEURIAL SKILLS PASS: A Pass to Further Opportunities 


                  TRADE FAIR: Largest Two-Day Student Trade Fair 


                  COMPANY OF THE YEAR COMPETITION: Competition Final and Award Ceremony 


                  COMPANY OF THE YEAR 2017: GrowGreen 


                  JA EUROPE COMPANY OF THE YEAR COMPETITION: Cypriot Team Awarded Two                                European Prizes 


        II. MORE THAN MONEY: Engaging Primary School Children 


        III. INNOVATION CAMP: An Intensive One-Day Competition 




JA ALUMNI CYPRUS: Launch of Local Alumni Network


THE POWER OF PARTNERSHIP: Teachers and Mentors   LEADERSHIP: JA Cyprus Board of Directors 


TEAM: Meet the JA Cyprus Team


PARTNERS: Long-term and Valued Supporters


THANK YOU: For the Memories!




Year in Review Junior Achievement Cyprus is gradually becoming the primary mechanism for disseminating entrepreneurship education across the island, having reached almost 1000 students through the four JA programmes offered during the 2016-17 academic year. Apart from the increase in numbers, this year in our flagship Company Programme we witnessed a marked step up in the quality of the business ideas and innovativeness, making it a pleasant challenge for the various juries to select the most successful companies. The higher standards were also reflected in the European competition, where among 37 countries, the Cypriot student company was awarded the FedEx Access Award, recognising the team’s idea for its global connectivity potential. In addition, the CEO of our team received the JA Alumni Leadership award for outstanding leadership skills – making this the second time a Cypriot is selected for such an award, in our short four-year history in the European competition. The Company Programme was complemented with three other programmes which ran successfully, engaging students from very diverse backgrounds, ranging from elementary school students, to Greek and Turkish Cypriot teenagers and students who drop out early from mandatory education. Operationally, in order to address the bigger workload and demands of the various programmes, the JA executive team expanded this year with the addition of Elisa Bosio, a long time contributor to the JA initiative, to support even on a part-time basis, the other two dynamic executives of our team. All the above has been made possible first and foremost thanks to our business partners, namely our strategic partner Astrobank, our partners Cyta, Metlife and PwC, our supporters the University of Nicosia, MS Jacovides Group and AON Hewitt, the Association of Cyprus Banks and the Embassy of the United States. Alongside our business partners who provide financial support and mentors, the programmes’ execution depends on the on-going voluntary participation of the teachers involved and the close cooperation with the Ministry of Education. All of the above companies, institutions, bodies and individuals, have contributed to making 2016-2017 a very successful year and I take this opportunity to thank them very much for their commitment and continued support. Finally, I would like to congratulate the JA executive team led by our CEO, Eloiza Savvidou, for their continuous efforts to grow the programme in terms of both quality and quantity. Next year we plan to expand our programmes further and, in the near future, look forward to start witnessing the impact of our programmes when JA graduates begin to take an active role in the business community of our country. Andreas Papadopoulos Chairperson, JA Cyprus  1


A Year Full of Growth Dear Friends, I am delighted to share our first electronic annual report! This academic year has been one of growth and excitement for JA Cyprus. We expanded the team, moved into a new office, hired a press office, re-launched our website and witnessed steady growth in the number of students, teachers and mentors engaged in our programmes. Oh, I forgot to mention, our Company of the Year also won three international awards along the way! In total, our programmes and activities this year have ‘entrepreneurially’ impacted the lives of over 900 students, providing a steady growth of 36% from the previous year (page 6). Specifically, student participation in our primary school and second chance school programmes has almost doubled in numbers, engaging 421 and 57 students participating, respectively. Amongst the numerous highlights this year has offered, our personal favourite has been to watch our young participants deliver top-notch presentations to an audience of more than 350 people during the Company of the Year Competition Finale and Awards Ceremony (page 10). Then, when we thought nothing could top that, Green Grow, our national winners, made us so proud in Brussels with their ethos and amazing work, which was recognised by winning two prestigious awards for the first time in our young organisation’s history (see page 13).  This was extremely exciting! However, to be honest, what touched us the most, was our interaction and the stories we heard from our alumni (page 18). Not only did they happily volunteer to assist during our big events, but they also shared touching stories of how their experience of the JA programmes have had a positive impact on their university applications, their lives and the way that they think and behave. World, you better watch out for them! Closing, I need to say that we are still a very young organisation (we were the last country to join a 40-yearold European organisation), and there is a long road ahead until entrepreneurship education becomes part of the official school curriculum. Nevertheless, we have ambitious dreams!  We dream of bringing quality entrepreneurship experiences to all the students of Cyprus, aged 5-25 (page 7)! We always believed in our students, but we are now certain that they have what it takes to excel and become great entrepreneurs and conscious citizens of this world. ‘Petit a Petit’ as the French say… Little by little. Eloiza Savvidou CEO, JA Cyprus  2


Inspiring the Youth of Today Junior Achievement Cyprus (JA Cyprus) is a member of JA Worldwide, the world’s largest non-profit organisation dedicated to addressing fundamental social and economic challenges of young people by educating and empowering them to transform their future and own their economic success. JA Cyprus is a partnership between the business community, educators, mentors and volunteers — working together to inspire young people to dream big and reach their potential. Through the delivery of cutting-edge, experiential learning in financial literacy, work readiness, and entrepreneurship, JA Cyprus effectively broadens the canvas of possibility for young people and enriches their ability to both engage in their own economic development and contribute to the strength of their families, communities, and economies. JA Cyprus was established in 2011 and, two years later, introduced the flagship Company Programme – endorsed as a best practice by the European Commission – in high schools across the island. Today, JA offers four educational programmes that target approximately 1000 students per year. JA Cyprus collaborates with JA Europe, the European Regional Operating Centre for JA Worldwide®.

With more than 100-member countries, the JA Worldwide network is powered by over 470,000 volunteers and mentors from all sectors of society, reaching more than 10 million young people around the world every year. 3


An Important Synergy Our programmes and activities welcome students of all ages, from primary school to higher education. The synergy of entrepreneurial teachers, motivated business mentors and high-quality content are key success factors to the JA student experience. The knowledge, skills and attitudes acquired along the JA learning path impact three main areas: entrepreneurship, work readiness and financial literacy.

Source: JA Europe Annual Report 2014



A Gradual Progression Any student, at any age, should have access to the best opportunities for active participation in business and community life. We believe that every young person can achieve success in today’s global economy.  The progression model at JA shows how young people’s learning journey can be gradual, with new experiences reinforcing previous learning and challenging them on to the next stage of development.


Source: JA Europe Annual Report 2016


A Growing Network Today, JA Cyprus offers four programmes targeting students from primary education to secondary education, including vocational schools. Our programmes are supported by teachers and mentors that assist in the delivery of the programmes. This year, our programmes reached a record 935 students, 121 teachers and 81 mentors that were engaged in one of our programmes, which we invite you to learn more about in the next few pages. The graph below highlights the growth in student engagement from 2014 to 2017, which has grown from approximately 300 to over 900 students!





Four Engaging Programmes JA brings the public and private sectors together to provide young people in primary and secondary schools and early university with high-quality education programmes to teach them about enterprise, entrepreneurship, business and economics in a practical way, using learning by doing methods.

Company Programme Innovation Camp More than Money Entrepreneurship Day at Second Chance School 7


European Union Recognised Best Practice The JA Company Programme provides an entrepreneurial learning experience for young people aged 15 to 18. The programme seeks to nurture a new generation of entrepreneurial, innovative and civic-minded talents for Cyprus. It is the largest youth entrepreneurship programme on the island. This year-long programme invites students to create their own venture, taking a business idea from concept to reality. Working as a team, and coached by a business mentor, participants have a hands-on experience of running a real business, from team formation, capital raising, business plan development, product development, marketing and sales to liquidating the company. They culminate the year by participating in a trade fair and an annual competition. Students are then invited to take part in a self-assessment and a knowledge and skills test to earn their Entrepreneurial Skills Pass™.

This school year, the JA Company Programme counted over 300,000 participating students across 40 countries in Europe.

Check out our annual Company Programme highlight video HERE  8


A Pass to Further Opportunities This unique international qualification, which launched in 2013, certifies that students (15-19 years old), who have participated in the JA Company Programme, have the necessary knowledge, competences and skills to start a venture of their own or be successfully employed. JA Cyprus was pleased to introduce the Entrepreneurial Skills Pass™ (ESP) this year to students participating in the Company Programme. The ESP complements the JA Company Programme by offering students the chance to certify their entrepreneurial knowledge skills and attitudes. In particular, this unique certification assesses and recognises their: • Knowledge/experience about: company structure and roles, idea generation and business opportunity, customer, marketing strategies, business plan, design and production, sales strategies, financial literacy, presentation techniques and communication skills; • Enterprising skills, attitudes and behaviours: creative thinking, problem-solving, confidence and a can-do attitude, taking initiative, teamwork and leadership, being resourceful, perseverance, negotiation and decision-making, ability to take responsibility and manage risks; and • Lifelong learning competences: communication in mother tongue, communication in foreign language, sense of initiative and entrepreneurship, mathematics and science, social and civic, digital, cultural awareness and expression, learning to learn.

Key Figures - Used in 25 countries - 25,242 students, 850 schools and over 1,700 teachers involved so far - 5,881 ESP certificates delivered (50% VET schools and 50% academic schools) 9


Largest Two-Day Student Trade Fair Students participating in the Company Programme are provided the opportunity to take part in a Trade Fair to showcase and sell their innovative products and solutions. This year, over 380 student entrepreneurs, representing 50 student companies, took part in the third annual Company Programme Trade Fair, which was held on 25 and 26 March at The Mall of Cyprus, Nicosia.


Competition Final and Award Ceremony During this special event, 10 finalists pitched their entrepreneurial ideas to a panel of judges. The Company Programme concluded with the Company of the Year Competition Finale and Award Ceremony, which was held on 28 April 2017 at Royal Hall, Nicosia. The event was attended by over 350 guests, and represented the culmination of the efforts of over 380 students, aged 15-18, who created and ran their own Student Company over the past seven months. This is the fourth consecutive year that the programme has been running, and the Student Companies were very successful this year with more than 50 businesses having earned over €40,000 in sales! Present at the event were the then Deputy Minister to the President, Constantinos Petrides, the former EU Commissioner for Education, Culture, Multilingualism and Youth, Androulla Vassiliou and the British High Commissioner, Matthew Kidd. 10


GrowGreen The company, made up of a team of students from the Engish School Nicosia, created a biodegradable plant pot called “the green box” using coffee waste. The pot can be planted directly into the soil as it biodegrades and the coffee acts as a fertilizer for the plant.

Apart from the main title of ’Company of the Year‘, and the first and second runner-up awards, the student entrepreneurs received signature awards for their achievements in key areas of entrepreneurial activities.


1st Runner Up

2nd Runner Up

Avita Nostra – Limassol Lanitiou Lyceum The company created two jewellery collections using authentic Cypriot embroidery, made by women from Lefkara, Fyti and Anogyra as well as Cypriot wildflowers and aromatic plants of Cyprus such as lemons, lavender and chamomile encased in glass.

Wrap-it – Junior and Senior School, Nicosia The company created a protective food wrap made of pure beeswax, coconut oil, and cotton, offering a viable alternative to common food wrapping, aimed at improving consumer health while helping to save the environment.

SIGNATURE AWARD WINNERS SIGNATURE AWARD WINNERS - AstroBank Award for Best Exhibition Stand: Aurora & Avita Nostra - Cyta Award for Most Innovative Product/Service: EasyPen - MetLife Award for Best Selling Product/Service: AestheiCY Designs - PwC Cyprus Award for Best Branding and Communication: Salthy - University of Nicosia Award for Best Company Report: GrowGreen - JA Cyprus Phoenix Award: Caseit² & Bracelords - AoN Hewitt Best Logo Award: Džep 12


Cypriot Team Awarded Two European Prizes GrowGreen represented Cyprus at the JA Europe Company of the Year Competition which took place in Belgium between 11 and 13 July 2017. Over 200 students, representing 37 student-teams, gathered in Brussels to celebrate the top JA companies from across Europe. The 2-day competition was attended by 700 people, including His Majesty the King of the Belgians. Last school year, the JA Company Programme counted over 300,000 participating students across 40 countries in Europe. GrowGreen was awarded the FedEx Access Award, which recognises student-run businesses that best exhibit the principles of global connectivity. Additionally, GrowGreen CEO, Irene Andreou received the JA Alumni Leadership Award, which is presented to individuals demonstrating outstanding leadership skills affecting their team and their company.

The competition was one of the most treasured experiences we have encountered so far and is going to stay in our minds as an amazing memory. We acquired skills that would have been difficult to gain from any other experience in our lives and we are more than grateful that we got involved and never gave up.                                                                                                                                                                                                                                   Tefkros Chimonas, Student, GrowGreen 13


Engaging Primary School Children JA More Than Money integrates money management concepts with helping children to identify their interests and learn basic business skills. By playing the Community and the Business games, students aged 10 to 12, understand the role of money in our lives and learn about earning, spending, sharing and saving money. Through this, students are able to explore their interests and learn about entrepreneurship. This year, more than 400 students from twenty 6th grade classes from eight schools around Cyprus took part in the programme, which was implemented for the second consecutive year. Students had the opportunity to familiarise themselves with financial terms, supported by professionals from the banking sector. The trainers, who participated in the programme on a voluntary basis, shared their valuable knowledge and experiences with the students. The programme is sponsored and supported by the Association of Cyprus Banks and is under the auspices of the Ministry of Education and Culture. 



An Intensive One Day Competition The JA Innovation Camp is a one-day, intensive experience that engages 50 Greek-Cypriot and 50 Turkish-Cypriot high school students with entrepreneurial and collaborative learning opportunities. On 4 November, the third annual Junior Achievement Cyprus Bi-communal Innovation Camp took place at the University of Nicosia. The participants were made up of 93 Greek-Cypriot and TurkishCypriot students, aged between 15 and 18, from private high schools from all over Cyprus, accompanied by their teachers. The challenge, which focused on social entrepreneurship, required the students to suggest an innovative product, service or solution that would address a specific social issue in Cyprus and create a positive impact on society. First place  •  "Bio Home" - The winning idea was a small, low-cost wind turbine that can generate 3-5 kW hours of electricity daily, which is the average amount needed for a small or big house. Second place •  “” – A not-for-profit movement in the form of a website that aims to inform and promote social equality of people of different sexualities in Cyprus.  Third place •  “Catalytic Converter Improvement Motor” – An emissions control device that converts toxic gases and pollutants in the exhaust gas to less toxic pollutants by catalysing a redox reaction.

The event was supported by the US Embassy in Nicosia.




Targeting Early School Leavers This programme is tailored to the interests of students, aged 14 to 17, who drop out early from mandatory education. The goal is to encourage them to build skills that could improve their employability. On 11 and 12 May, the students of the Preparatory Apprenticeship Schools in Nicosia and Limassol had the opportunity to participate in an entrepreneurship workshop. MetLife Cyprus employees assisted the student teams as mentors and through interactive exercises, they helped the students understand basic business concepts and practice skills such as critical thinking and teamwork in decision-making. The programme is supported by the MetLife Foundation USA as part of their support to low-income individuals for promoting financial inclusion.



Launch of Local Alumni Network This year, JA Cyprus took the first steps to establish the JA Alumni Cyprus, a network for former and current participants of Junior Achievement school programmes. The vision is to create a network of young, ambitious entrepreneurs, where members use each other's experiences and skills for personal and professional development. JA Alumni Cyprus aims to create an environment and shape a framework for former JA programme participants that will enable them to broaden their personal horizon, receive empowerment and inspiration, push what they thought up till now are their limits, foster their  curiosity for interdisciplinary and social challenges, build a global personal network,  give back, teach and promote others and support international understanding, and, eventually, to make the most of their personal potential! The JA Alumni Cyprus will work in close cooperation with its sister organisations throughout Europe and with JA Alumni Europe, a pan-European non-profit network existing of young entrepreneurial volunteers across 21 active European member countries. Today, the organisation counts around 4,000+ members and has a high potential for future growth. 

JA Alumni - Have higher employment rates and more often hold management positions - Have higher incomes - Show a higher rate of start-up or venture creation - Are less deterred by the prospect of failure - Launch companies that create more jobs, generate more profit and involve more innovative sectors 



Teachers and Mentors Collaboration between teachers and business mentors in the classroom is one of JA’s critical success factors. On the one hand, it creates a context for educators and business people to exchange knowledge and expertise, while at the same time it is an opportunity for young people to increase their awareness of the needs and wants in the working world. Benefits for Teachers    • Access to numerous best practices and innovative teaching tools    • High-quality materials and training    • Comprehensive support and assistance    • International professional development    • Access to experts from the business community Benefits for Business Mentors    • Moral satisfaction generated from their contribution to youth learning advancement    • Networking opportunities with eventual future employees and colleagues    • Reinforcement of managerial expertise, communication and teamwork skills    • Self-enhancement opportunities    • Access to innovative educational programmes and teaching practices


Investing in entrepreneurship education is one of the highest return on investments Europe can make.                                                                                                                                             – European Commission



JA Cyprus Board of Directors Andreas Papadopoulos Chairperson, JA Cyprus Commercial Manager, Hellenic Bank

Constantinos Loizides Non-Executive Director, AstroBank

Nasia Papazachariou-Agapiou Innovation and Idea Development Officer, Cyta

Antonios Karpasitis General Director, MetLife Cyprus

Evgenios Evgeniou CEO, PwC Cyprus


Andreas Koupparis Chairman, Cyprus Business Angels Network (CyBAN)


Meet the JA Cyprus Team Eloiza Savvidou, CEO Eloiza believes that entrepreneurs can shape the world and, as CEO of JA Cyprus, her dream is to watch today’s youngsters shape ours! When she is not ‘Junior Achieving’, Eloiza helps adults turn their green ideas into a profitable business through Chrysalis LEAP, of which she is one of the cofounders. Eloiza’s professional background is that of a lawyer and a Chartered accountant.  In her free time, Eloiza loves travelling the world and practising sports. Elena Michael, Programme Coordinator Elena “converted” to JA Cyprus after serving as a volunteer and a mentor in the first Company of the Year Programme. Her passion is to support young people live their dreams and she believes that coaching and learning by doing are the best ways to achieve this.  Elena studied in the United States as a Fulbright Scholar and received a Bachelor’s in Business Administration from the College of William & Mary in Williamsburg, Virginia. She gained her Master’s degree in International Affairs at Florida State University. Prior to JA, she worked in the Financial Service sector for nearly 15 years. Elisa Bosio, Operations Manager Elisa received an MSc. in Marketing (with distinction) from the University of Manchester, UK. She has over ten years of experience working on local and European funded programmes related to youth. In 2009, as a Research Officer at the University of Nicosia, she was tasked with reaching out to JA Europe to explore the option of introducing JA to Cyprus and was instrumental in organising the first JA Innovation Camps (2010-2012) prior to the official establishment of JA Cyprus.  In her free time, Elisa enjoys taking creative writing workshops.



Long-term and Valued Supporters Strategic Partner



Institutional PartnerÂ

JA Cyprus would greatly appreciate the support of business partners that wish to invest in entrepreneurship education and social enterprising. Interested parties may request more information about our sponsorship packages. Our audited accounts are available to prospective sponsors. 23


For the Memories!


Junior Achievement Cyprus 121 Prodromou Avenue, Strovolos Nicosia 2064 Cyprus +357 97715909

          Junior Achievement Cyprus               JA Cyprus              Junior Achievement Cyprus  

JA Cyprus Annual Report 2016-2017  
JA Cyprus Annual Report 2016-2017