BEDC Launches 7th Annual ‘Rocket Pitch’
The Bermuda Economic Development Corporation [BEDC] is getting set to launch the seventh annual Rocket Pitch competition. Sponsored by PwC Bermuda, the Bermuda Tourism Authority, and the Department of Ecommerce, the event is being run as part of the upcoming Global Entrepreneurship Week [GEW] from November 17 – 21, and is open to all entrepreneurs.
“PwC Bermuda is delighted to come on board to sponsor this year’s Rocket Pitch competition,” said Tom Miller, PwC Bermuda managing director, Private Client Services.
“We are excited to be a part of the events of Global Entrepreneurship Week, and we support the BEDC in encouraging aspiring entrepreneurs to get their ideas off the ground and build new businesses in Bermuda.”
Pat Phillip-Fairn, Chief Product and Experiences Development Officer of the BTA, said, “The BTA is very happy to sponsor the Pitch Pink category once again. We are also pleased to participate in GEW overall.
“This initiative aligns very well with our strategy for investing in new, home grown ideas that are designed to help re-invigorate Bermuda as a tourism destination and create opportunities for local entrepreneurs.”
A spokesperson said, “Participants will have 5-7 minutes to present a “Rocket Pitch” about their new business idea or a business idea that has been launched within a year. There are three separate industry categories:
- PitchPINK - share your idea for a new tourism/hospitality product or service
- PitchTECH - share your idea for a new innovative technology or eBusiness idea
- PitchTOWN - share your idea for a new business with a focused on local customers
“Following the initial presentations, our committee will invite the top entrepreneurs in each category to pitch publicly during Global Entrepreneurship Week on November 18.”
“This year participants will have the opportunity to work with coaches to refine their pitches,” said Jamillah Lodge, BEDC Business Development Officer.
“Based on feedback we received from previous years, it was determined that the access to coaching prior to the public presentation can assist the participant immeasurably and we are happy to be able to provide this layer of assistance.”
Mr. Miller of PwC also said, “Professionals from our Private Client Services and Advisory teams are very much looking forward to meeting and coaching the Rocket Pitch participants and taking part in the judging of this year’s competition.”
“The entrepreneur chosen number one in each category by our panel of judges will receive a combination of Venture Funds and a Business Start-up Services valued at up to $5,000.00 on November 20> at the Celebration of Entrepreneurship and Innovation.”
Anthony Hansen of Logic with Katherine Fisher, 1st Place winner in 2013 Pitch Tech category
Michael Fahy, Minister of Home Affairs, said, “The Rocket Pitch Competition is a competition that encourages existing and potential entrepreneurs to develop new business ideas. The BEDC, for the last six years, has used this competition to encourage and inspire the next local entrepreneurs to come forward and move from the idea stage to implementation.
“Over this time period, the Rocket Pitch competition has aided in the development of twelve new businesses in Bermuda. As the Minister of Home Affairs, I am encouraged about the future of the Bermudian economy when we can boast statistics like these to show that this one competition can aide in the establishment of new businesses and new jobs for Bermudians.
“I look forward to this year’s competition and to continuing to support new entrepreneurs through the BEDC.”
“Submissions are due by 5.00pm on November 3, 2014 and may be emailed directly to jlodge@bedc.bm. To provide further support to participants, the BEDC has uploaded a tutorial to its website on how to put together a Rocket Pitch.
“Five key components are highlighted as necessities for a successful Rocket Pitch and tips on pitching style are also available.”
Grant Gibbons, Minister of Education and Economic Development, said, “We are excited to once again be a part of Global Entrepreneurship Week and the Rocket Pitch competitions – particularly PitchTech.
“For an entrepreneur, these initiatives help move a business plan from concept to the opportunity and challenge of presenting to a panel of potential funders.
“Rocket Pitch nicely combines innovation with a platform which recognizes and supports entrepreneurs and their start-ups. I look forward to this year’s entries.”
“This is the seventh year we have participated in GEW and we are pleased to continue to encourage and nurture entrepreneurs as they pursue their small business goals”, said BEDC Chairman, Nick Kempe. “If you have an idea and want to take the first step in getting started, I encourage you to present it within this competition.”
“Not only is it an opportunity for the participants to gain experience in pitching their business ideas, there is also the chance to get valuable feedback to help further shape your idea or new startup.”
For information about Rocket Pitch, the public can email Jamillah Lodge at the BEDC at jlodge@bedc.bm, call 292-5570, or go to the BEDC website.
