Bermuda’s First Cooperative Pitch Competition

January 20, 2020 | 1 Comment

The BEDC will be hosting Bermuda’s first ever Cooperative Pitch Competition, with participants “competing for the 1st, 2nd and 3rd place overall grand prizes, which will include cash and start-up services; the winning 1st place group will receive $5,000, the 2nd place group will receive $3,000 and the 3rd place group $1,000.”

“This year the Bermuda Economic Development Corporation [BEDC] is excited to bring you a diverse range of cooperative [co-op] business development opportunities, inclusive of networking, Co-op Power Workshop and a Co-op Pitch Competition,” a spokesperson said.

BEDC Coop Pitch Competition Bermuda Jan 2020

“The BEDC’s Economic & Cooperative Development [ECD] unit have crafted a series of events, that aim to assist with the generation of cooperative businesses in Bermuda.

“Tasked with creating awareness, encouraging the development of co-op businesses and providing people with the knowledge and skills to do so, BEDC has set out to prepare small groups of dedicated entrepreneurs to create and pitch their co-op business ideas.”

“The Co-op Pitch Competition will draw on both the Cooperatives UK event and BEDC’s popular Rocket Pitch Competition in November of each year.”

“We have watched the successes of these events and feel that the same format can be used to propel co-op business ideas too,” said Jonathan Starling, BEDC’s Economic & Cooperative Development Officer.

Starting on January 29th with a Co-op Pitch Info Session, members of the public are invited to join BEDC from 6pm – 7pm for a brief overview of the Co-op Pitch Competition and the Co-op Power Workshop that will work in conjunction as a pre-requisite for the Pitch Competition.

On Wednesday, February 5th BEDC has collaborated with Wine Down Wednesday for a Co-op networking event designed for millennials to mingle, ask questions and get inspired.

All are invited to join BEDC at TASTE from 5pm – 9pm to network with the growing number of young people connecting through cooperative entrepreneurship in Bermuda. At both events, BEDC representatives will be available.

BEDC Coop Pitch Competition Bermuda Jan 2020 (2)

The spokesperson added, “The 3-Part Co-op Power Workshop is an immersive learning opportunity to ensure that all Pitch Competition entrants know the foundations of a Co-op and learn how a Co-op differs from a traditional business. The workshop will also explore the benefits of starting a Co-op and the community impact opportunities as well.

“The Co-op Power Workshop is a 3-part event that will take place on Wednesday, February 12th, 19th and 26th at BEDC. All are welcome, even if you simply want to join just to learn more about Co-op’s and not enter the Pitch Competition.

“The Co-op Pitch Competition is designed to help people get their ideas off the ground. Three-person teams with a workable idea for a local co-op business are eligible to compete.

“Teams will compete in three categories, the Millennial Makers – teams of millennials eager to start a co-op; the Sports Club Creators – for all sports clubs that would like to enter teams; and the Bermuda Open category for any three person team that would like to form a Co-op and pitch their idea.

“Participants will be competing for the 1st, 2nd and 3rd place overall grand prizes, which will include cash and start-up services. The winning 1st place group will receive $5,000, the 2nd place group will receive $3,000 and the 3rd place group $1,000. The winning team will also have the opportunity to participate in the BEDC Enterprise Bermuda Incubator Program.”

“While the idea of Cooperatives is not new to Bermuda, we want to get it out to a wider audience and increase adoption. We believe that the lineup of events that we have created here will help with that” states William Spriggs, Director of Economic and Cooperative Development at BEDC.

To be eligible to participate in the pitch competition, at least two members of your team must have participated in the three-part Co-op Power Workshop. The BEDC encouraged all interested parties to get involved. For more information, key dates, and sign-up forms, please visit www.bedc.bm. You can also visit the BEDC Offices, send an email to info@bedc.bm or call at 292.5570.

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  1. Milton says:

    Commies

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