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Aged From 12-18 With A Great Business Idea?

Aged From 12-18 With A Great Business Idea?

by Manuela
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Are you a student between the ages of 12 – 18 and have a great business idea, but need support to get it off the ground? You are in luck. The Bermuda Economic Development Corporation has added a fifth category to its annual Rocket Pitch Competition –YouthPitch.

The Rocket Pitch Competition, sponsored by the Department of ICT Policy & Innovation, the BEDC and Youth Entrepreneurship Initiative of Bermuda, is being run for the tenth year as part of the upcoming Global Entrepreneurship Week [Nov 13th – 20th].

The competition is open to all entrepreneurs and this year, students up to age 18, with business ideas. Participants will have 5 minutes to present a “Rocket Pitch” about their new business idea or a business idea that has been launched within a year. You can download the Pitch Kit at www.bedc.bm

This year, marks the addition of the YOUTHPitch category to our other four categories: PitchGREEN “Green” industry PitchPINK – tourism/hospitality product or service; PitchTECH – innovative technology or eBusiness idea; or PitchTOWN – new business with a focused on local customers.

The competition will run from Friday, October 6th – Tuesday, October 31st. The YouthPitch participants will have a chance to pitch in a public preliminary session on Thursday Nov 9th. Following preliminary presentations the Rocket Pitch committee will invite the top two participants in each category to pitch publicly during Global Entrepreneurship Week [GEW] on Thursday, Nov 16th at XL Catlin.

Jamahl Simmons, Minister of Economic Development and Tourism stated, “The BEDC through their Rocket Pitch Competition has acted as a catalyst to get entrepreneurs and young people to implement their business ideas. For 10 years this competition has supported and encouraged innovation and new ideas.

“As the Minister of Economic Development and Tourism, I recognize the importance of doing for self, growing entrepreneurship among Bermudians and encouraging initiatives like the Rocket Pitch that contribute to the development of a healthy and vibrant local economy,” “

“This year we are launching the inclusion of a Youth Pitch category based on an increase in young people entering the Rocket Pitch Competition.” stated Erica Smith, BEDC Executive Director.

“This development is encouraging and means that we are making an impact on the younger generation and encouraging them to consider entrepreneurship as a viable career.

“To date and on this 10 year anniversary of GEW we are pleased that this competition has been responsible for over 20 businesses being formed and we are confident that the addition of the Youth Pitch category will ensure that local innovation will be nurtured for years to come.”

Joe Mahoney, Executive Director of the Youth Entrepreneurship Initiative stated: “YEI is pleased to sponsor this new category in the competition. As is evident in our annual Biz Camps there is indeed cause for younger Bermudians to have the support they need to advance their business ideas and we are pleased to join BEDC in enabling them on this journey.”

Walter Roban, Deputy Premier and Minister of Transport and Regulatory Affairs, stated: “The Department of ICT Policy and Innovation is pleased to continue to support and sponsor the Pitch Tech category of the Rocket Pitch Competition. Over the years there have been several businesses that have started and grown as a result of the startup support they receive from Rocket Pitch.

“We are honored to encourage the development of technology businesses through the various stages. Through Pitch Tech we focus upon the idea generation and start-up phases and then at the other end of the spectrum we get to celebrate technological achievements with the TechAwards, which is another key GEW event. GEW is therefore able to highlight the business development steps taking place in our community from opportunity recognition, through business planning, to successful operation.”

The participants chosen number one and two in each category by the panel of judges will receive a share of the $25,000 prize package which includes a combination of start-up funds and business start-up services. Winners will be chosen on Thursday, November 16th at the Rocket Pitch Finals.

Submissions are due by 5:00pm on, Tuesday, October 31st, 2017 and may be emailed directly jlodge@bedc.bm. To presentations are to follow a specific format, and so to provide further support to participants, BEDC has uploaded a tutorial to its website www.bedc.bm on how to develop a Rocket Pitch. For information about Rocket Pitch, the public can email Jamillah Lodge at the BEDC at jlodge@bedc.bm, call 292-5570 or via the BEDC website, www.bedc.bm.

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