Ignite Receives Over 100 Applications In A Week

April 5, 2019

Ignite Bermuda today announced that their business accelerator programme is off to a great start, as over one hundred applications have been submitted for entry into the facility in May.

As the founders had hoped, the applications are from a broad section of the community and include a variety of ideas across all sectors; everything from new ideas for start-ups to small businesses looking to scale and grow in markets outside Bermuda.

“The response to our launch and the number applications have far exceeded our expectations, we couldn’t have wished for a better start. The response really has been terrific. ” said Neil Patterson, Director of Bermuda Accelerator Limited [BAL] and Chairman of KPMG in Bermuda.

A spokesperson said, “In order to ensure the success of the hub, the first cohort entering the program will remain at fifteen entrepreneurs in May. However, due to the phenomenal response, an up to additional forty places will be offered to individuals who can benefit from a “light” version of the program.

“This additional group will be supported through lunch and learns and workshops over the same six month period. All individuals who are unsuccessful in joining the limited first cohort of fifteen can reapply later in the year for the next cohort of fifty places, which will kick off in January 2020.”

Ignite also announced that it will start a search shortly for a suitably qualified Bermudian to act as Manager – Enabler for their hub.

Don Mackenzie, Director of BAL and Chairman and Owner of New Venture Holdings, said, “We are thrilled with the response. This initial cohort, and the addition of running a light version of the program, ensures we are responding to the need for advice and support in the local start-up business community.

“With the quality and variety of applicants we are seeing already, we can’t wait to see how this will develop. We started Ignite with the premise that there was a demand in the community for providing more support to small businesses and the initial response appears to validate this.”

Since over 100 applications have been received already, Ignite also announced that the application period for the first entry is being shortened. Applications will be accepted until close of business on Wednesday April 10, 2019.

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