Minister’s Remarks: Global Entrepreneurship Week

This morning [Nov 15] Colonel David Burch, in his capacity as Acting Minister of Environment, Planning and Infrastructure Strategy gave a statement on the initiatives of Global Entrepreneurship Week, an initiative which is supported by a trio of Ministries, including the Ministry of Economy, Trade and Industry, the Ministry of Environment, Planning and Infrastructure Strategy and the Ministry of Business Development and Tourism.

Colonel Burch’s full statement follows below:

Good Morning,

I am pleased to join Minister Wilson and Mr. Joe Mahoney, coordinator of GEW 2010, on behalf of my colleague the Minister of Environment, Planning and Infrastructure Strategy, the Honourable Walter Roban to launch Global Entrepreneurship Week, which has the goal of inspiring young people to embrace innovation, imagination and creativity.

From today to November 21st, Bermudians will join millions of young people around the world for this growing movement to generate new ideas and seek better ways of doing things.

This public-private partnership, which was first held in 2008, is aimed at facilitating Government’s goals for promoting economic empowerment, workforce development and sustainability. The Bermuda Host Committee participants include the Bermuda Small Business Development Corporation, the Ministry of Business Development and Tourism’s Department of E-Commerce, and The Youth Entrepreneurship Initiative of Bermuda.

This Committee identified objectives for our participation in Global Entrepreneurship Week 2010 as:

* encouraging the entrepreneurial spirit amongst all Bermudians;

* educating entrepreneurs about starting a business, displaying successful strategies for funding a start-up; providing opportunities for Bermuda’s young entrepreneurs to showcase their talents; and

* inviting any citizen to submit innovative solutions to sustainability issues such as transportation infrastructure.

The primary sponsors of Global Entrepreneurship Week Bermuda are the Ministry of Environment, Planning and Infrastructure Strategy’s Department of Energy, HSBC and BELCO, while Program Partners include the Departments of Energy and E-Commerce, BSBDC, Greenrock, and the Youth Entrepreneurship Initiative. A number of activities and local challenges designed to encourage young people to unleash their ideas, which include:

* The Greenrock Innovation Tournament, conducted in cooperation with the Department of Energy, invites all Bermudians to submit innovative solutions for sustainable products or systems that can “Change the Mindset” of transportation in Bermuda; and

* The BELCO Sustainability Challenge conducted by the Youth Entrepreneurship Initiative in cooperation with the Department of Energy, calls for senior school-age students to conceive of innovative solutions to everyday problems based on energy technologies.

These events piggyback on last year’s Global Entrepreneurship Week, which focused on innovative and creative ideas to make Bermuda, and the world ‘cleaner and greener’, one idea at a time. The aim in 2009 was to highlight the relevance of and promote the philosophy of sustainability throughout everything done in Bermuda on a daily basis, especially with respect to the generation and consumption of power.

This is an exciting and unique opportunity for Bermudian young people to demonstrate their imagination and entrepreneurial spirit – I thank all those involved and encourage participants to let their imaginations roam well beyond our 22 square miles.

I now ask Minister Wilson to say a few remarks.

Thank you.

Senator Kim Wilson, the Minister of Economy, Trade and Industry, also spoke and her full statement follows below:

Good morning everyone:

As the new Minister of Economy, Trade and Industry, I am particularly pleased to participate in the launch of Global Entrepreneurship Week.

The Bermuda Small Business Development Corporation, under the auspices of the Ministry of Economy, Trade and Industry, once again has served as a member of the Host Committee of Global Entrepreneurship Week; we were joined with the “Youth Entrepreneurship Initiative” as well as the Department of E-Commerce.

This is the third year that BSBDC has participated in this Global recognition of entrepreneurship. Bermuda joins over 100 countries from around the world in celebration of entrepreneurship during this week.

Through the BSBDC sponsored initiatives, the Rocket Pitch Competition, Launch Pad, Face – 2 – Face essay contest and eMonday, we are proud to continue to encourage people of all ages to reach towards their entrepreneurial goals and dreams.

The purpose of Global Entrepreneurship Week is to emphasize innovation and imagination.

Global Entrepreneurship Week seeks to also encourage creativity among existing and new entrepreneurs around the world and Bermuda is no exception. The energetic, professional BSBDC team witnesses this on a daily basis through the work that they do by providing advice and guidance to small business owners and aspiring entrepreneurs from across the island; as well as in the precedent setting work being carried out by the Economic Empowerment Zone Agency.

Earlier this year, we held the Rocket Pitch contest. This contest enabled young Bermudians an opportunity to deliver a 5-minute “business pitch” of their creative business idea, with the winners receiving cash prizes provided for by HSBC.

Another exciting opportunity for aspiring and existing entrepreneurs will be the inaugural Launch Pad programme.

The Launch Pad is a series of 30 minute television programmes which will be broadcast on VSB channel 11 this week. The broadcast will feature aspiring and existing entrepreneurs selling their business ideas and plans to a panel of potential investors from three local financial institutions; namely HSBC, Butterfield Bank and Capital G.

These entrepreneurs were pre-selected after a vigorous interview and review of their plans and funding requirements. They not only had the benefit of being coached, supported and advised by members of the Host Committee but also by some of Bermuda’s successful business persons whom I understand were quite impressed by the vision and work of these budding entrepreneurs.

We are especially appreciative to all our sponsors of these events and in particular, HSBC, who has been a lead funding resource from the inception. Bermuda’s economic prosperity is founded on entrepreneurial vision, hard work and ingenuity and this Global Entrepreneurship Week’s activities supports and sustains this important and valuable sector.

Thank you.

#BermudaGovernment

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