The institution, whose last phase (competition on the composition) begun in 1991, became annual from 1997. It was a great success with many participants. Young musicians –usually very talented- compete and are awarded (1st, 2nd, 3rd Award) for their performance on singing, composing or playing a musical instrument: piano, violin, cello, viola, wooden brass, brass etc.
From 2009 young musicians from Cyprus can also take part in the Competition. Application period begins in spring, whereby the Competition takes place in autumn of every year. Until today, the final phase of the Competition was supported by the Thessaloniki State Symphony Orchestra and the Symphony Orchestra of the Aristotle University of Thessaloniki. This year the Symphony Orchestra of the Municipality of Thessaloniki will also take part.