According to the Greek mythology, Elpis was:
The personified spirit (daimona) of hope. She and the other daimones were trapped in a jar by Zeus and entrusted to the care of the first woman Pandora. When she opened the vessel all of the spirits escaped except for Elpis (Hope) who remained behind to comfort mankind. Elpis was depicted as a young woman carrying flowers in her arms. Her opposite number was Moros, the spirit of hopelessness and doom.
I liked the symbolism of this and thought Elpis had a nice ring to it. Hope is something we all need after all.