Ignite Cohort Report 15 New Full Time Jobs
Ignite Bermuda’s second cohort – who concluded their Business Accelerator Programme in June – reported an increase of 5.7% in sales, as well as 15 full time and 28 part-time jobs created.
A spokesperson said, “For each Ignite Bermuda’s cohort, data is collected from the participants to track and measure the impact of the accelerator programme and the results are in – Ignite equipped 34 of Bermuda’s entrepreneurial startups to better navigate unprecedented times. Despite challenges due to Covid-19, Ignite Bermuda’s 2nd Cohort persevered to become the most recent graduates of the programme.
The Impact: 2nd Cohort Results
“Ignite, as an entrepreneurial accelerator, encourages the continual development of not only the businesses, but more so the entrepreneurs themselves.
“The organization’s second cohort successfully achieved growth during these challenging times, showing resilience through the global pandemic. Despite unanticipated setbacks, the cohort also saw an increase of 65% improvement in knowing their numbers and 20% in producing a business plan.
“Ignite’s second cohort began early January with no anticipation of what this year was to hold. The circumstances forced both the Ignite team and entrepreneurs to shift their way of business; many pivoting their companies as a whole. Amazingly, they saw an increase in 5.7% of sales, and continued to create jobs and diversity here in Bermuda.
With a total of 15 full time and 28 part time jobs created, Don Mackenzie, Ignite co-founder and chairman, says it “reinforces Ignite’s belief that entrepreneurs and small businesses have the mindset and skill sets to create growth and jobs in all economic conditions.”
The Start: Ignite Bermuda’s second cohort in the Hub pre-COVID-19.
“Many cohort members shared their feeling that without the strong community and mentorship Ignite cultivates, they would not be where they re today.
Claire McDevitt, founder of Healthcare Solutions, said, “Even with COVID happening and business slowing down, we felt so supported through Ignite with the mentorship.”
Ignite continues to grow their mentor network to provide support and expertise to its entrepreneurs and community leaders every step of their journey.
Gordon Johnson, co-founder of Circle, believes the greatest thing Ignite has taught him is “together, we can”. He stated that “it has represented an opportunity to continue to grow and learn while everything else is changing”.
Mr. Johnson explained, “I felt I could reconnect with a group that I really trusted. I depended on the continuity of that connection as my anchor.”
The End: Ignite Bermuda’s virtual Celebrate Success celebration mid-June.
“Ignite Bermuda continues to grow an entrepreneurial ecosystem. With the start of cohort three last month and inclusion of the third sector, there is an incredible amount of opportunity in our community.
Mr. Mackenzie added, “As economic uncertainty will increase in the near future, the role of entrepreneurs and small businesses will be even more vital in supporting our mission of widening economic participation and addressing economic inequality in Bermuda.”
The application for the next cohort will be available January 2021. More information about Ignite Bermuda’s Accelerator Programme can be found online via www.ignitebermuda.com.
