Hundreds of applications, multiple stages, and only a small fraction making it through – the Eurasian Business Excellence Award 2025 is less a competition and more a filtration system. Announced on May 18, 2025, the results of this year’s award cycle highlight not only the winners, but the rigor of the selection process behind them.
More a filtration system than a traditional competition.
Out of 428 applications submitted from 17 countries, fewer than a quarter reached the shortlist, and only about 6% ultimately made it to the final stage.
These numbers do more than illustrate competition; they show how early the selection process begins to eliminate projects. Most submissions are filtered out long before any final evaluation takes place, which fundamentally changes how the award should be understood.
What these numbers highlight is not just the level of competition, but the intensity of selection at every step. The majority of projects do not exit the process at the end – they are filtered out along the way, as the criteria become progressively more demanding.
The process narrows continuously – not just at the final stage.
In this system, progress is not gradual. At each stage, the bar rises, and projects that initially appear strong often fail to move forward once they are measured against more demanding criteria.
THE SELECTION PROCESS: WHERE THE FILTERING BEGINS
The selection process is deliberately structured as a multi-stage system, with each step designed to test a different aspect of a project’s strength.
The initial screening already acts as a decisive filter. At this stage, applications are assessed not only for formal eligibility, but for clarity of business logic, measurable outcomes, and credibility of supporting data. Projects that rely on abstract positioning or lack concrete results rarely progress further. What becomes clear early on is that there is little tolerance for weak structure – a compelling idea alone is not enough without consistency, numbers, and a clearly articulated value proposition.
Reaching the shortlist shifts the nature of the evaluation. The process is no longer about filtering out weak submissions, but about comparing strong ones under increasing pressure. Projects are assessed in relation to one another, and the criteria become more demanding: scalability, resilience, and strategic coherence begin to define the difference.
At this point, the process begins to resemble less a selection and more a competitive stress environment. What once looked strong in isolation is now measured against other high-performing projects, and the margin for error narrows significantly.
PITCHING: THE DECISIVE STAGE
The decisive moment comes during the pitching stage, where the entire logic of evaluation changes.
At this point, the process stops being a review and becomes a test. Founders and teams are no longer judged based on written submissions, but are required to defend their business in real time before an expert jury – under conditions that closely resemble real market scrutiny.
This is where strong applications are no longer enough.
Numbers are questioned, assumptions are challenged, and growth strategies are examined in detail. Projects that cannot clearly explain their own metrics, or that rely on superficial narratives, become visible very quickly. It is often at this stage that the gap between “strong” and truly “exceptional” projects becomes clear.
As the Chairman of the Expert Board notes,
“A strong application is not enough – projects must demonstrate that their numbers, strategy, and scalability hold up under scrutiny.”
THE ROLE OF THE JURY
The intensity of this process is closely tied to the composition of the jury. It brings together business leaders, investors, and industry experts who operate in real market conditions – not observers, but decision-makers.
Among them are:
- Mаrkо Čаdež, President of the Chamber of Commerce and Industry of Sеrbia
- Liubov Shilkova, International Expert in Taxation and Finance
- Illia Porokhnavets, Founder and CEO of Team Rotary
- Hаnzаdе Dоğаn Bоynеr, Chairwoman of Dоğan Online Grоup Cоmpanies
- Kateryna Pereverzieva, Healthcare Marketing Expert
- Jоhn Byrnе, Founder and CEO of Cоrlytics
- Cоlm Lyоn, CEO and Founder of firе.cоm
- Mikhail Ignatyev, Mechanical Engineer and Entrepreneur
The process reveals what projects can defend – not just what they claim.
Their role extends beyond formal evaluation. In practice, the process functions as a stress test – one that quickly reveals whether a business model can withstand real scrutiny and remain consistent under pressure.
WHAT THE NUMBERS REVEAL ABOUT THE MARKET
Beyond the selection process itself, the distribution of applications provides insight into broader market dynamics.
The highest concentration of submissions was seen in sectors such as retail, digital commerce, technology, construction, and healthcare, with additional interest in areas like business tourism, education, and investment.
This distribution is not accidental – it reflects where competition is intensifying and where business models are becoming more complex, scalable, and technology-driven.
These are also the categories where the selection process becomes most demanding. A higher volume of applications is matched by stronger average quality, which significantly raises the threshold for progression. In practice, this means that competition is fiercest precisely in the sectors shaping the future of the market.
WHO MAKES IT THROUGH
Only a limited number of projects successfully pass through all stages of the process, and their profiles reveal a consistent pattern.
Among them are leaders such as Hаkаn Gеrin of Yuppiоn, a platform supporting global e-commerce businesses, Lucа Cаrlucci of BizАwаy, a digital corporate travel management platform, Frеdеricо Bеllо of Lucа, an AI-driven EdTech solution, as well as figures like Jоsе Mаriа Fеrrеirа of Hаvеlаr, working with 3D printing technologies in construction, and Gоrаn Kоvacеvic of Gоmеx, a large-scale retail chain. While they operate across different industries, their businesses are built on similar principles – structured models, clear value propositions, and the ability to scale beyond local markets.
What sets these projects apart is not just execution, but clarity. Their growth is supported by measurable results, their strategies are internally consistent, and their models are designed to adapt under pressure rather than break under it.
Clarity, not just execution, is what separates finalists from the rest.
In practice, this often means moving beyond traditional approaches – whether through platform-based models, international expansion strategies, or the integration of technology into historically less flexible industries.
Their presence at the final stage is not accidental. It reflects the type of business that can withstand a multi-layered evaluation process – and continue to perform under scrutiny. In this sense, the finalists are not only the strongest within the award, but also representative of the standard increasingly required by the market itself.
Pressure is the filter – resilience is the requirement.
The Eurasian Business Excellence Award 2025 demonstrates that the selection process itself has become a meaningful benchmark – one that mirrors the increasing selectivity of the market itself.
The combination of early-stage filtering, competitive shortlisting, and high-pressure pitching creates a system in which only the most substantiated and resilient projects move forward. In this context, reaching the final stage already signals a high level of quality, while winning reflects the ability to operate under the same conditions that define today’s business environment.
