Applications Now Open For Enterprise Incubator
Are you a start-up seeking to accelerate the growth of your business in its early years? Are you an early stage entrepreneur looking for a nurturing environment to validate your business idea?
If so, then submit your application for the second cohort of the Enterprise Bermuda Incubator. This incubator programme started by the Bermuda Economic Development Corporation [BEDC] is a twelve-month incubation programme to support local entrepreneurs and the development of their businesses.
The Enterprise Bermuda Incubator was launched in February 2018 with a pilot cohort of 6 budding entrepreneurs. The pilot incubator programme was focused on walking participants through an in-depth nine-month development process, which ensured the entrepreneurs get beyond the idea stage and start to bring their businesses to fruition.
The pilot initiative was run with the winners of the tenth annual Rocket Pitch competition that was held for Global Entrepreneurship Week [GEW], on November 16, 2017. The six entrepreneurs completed the pilot programme and have a better understanding of what is required to progress their respective businesses.
Surlena Smith, owner of PondaPits and one of the pilot cohort participants, remarked that since being enrolled in the Incubator “Everything has changed about my business.
“My business is now more professional, my products are now distributed in 4 locations across the Island and growing, and PondaPits has gone from an idea to an actual business which is growing in an unexpected direction!”
The initial cohort was started as a nine-month programme, however feedback from the participants indicated that a twelve-month programme would be more beneficial. As a result, the second cohort will have the benefit of being in the incubator for an additional three-months.
The second cohort of the Enterprise Bermuda Incubator will start on Monday, January 28th, 2019. Applications are available online at www.bedc.bm, and for pick-up at the BEDC’s office in Sofia House, located at 48 Church Street, Hamilton.
Applications will close on Friday January 11th, 2019. Interviews of short-listed applicants will take place during the week of January 14th, 2019.
Eight successful applicants will receive assistance with analyzing and refining their business idea, so they can best determine if it will work in – and beyond – the Bermuda market.
Participants are provided with complimentary access to BEDC’s educational courses and programmes; free and subsidized office space; an assigned Business Development Officer and personalized mentoring with industry experts, such as has been provided with financial advisor, Bruce Sharpe, of Sharpe Financial Services Ltd.
In addition, successful applicants will receive access to pro-bono or subsidized services in areas such as marketing, accounting, legal support, and web development.
