The Bermuda Economic Development Corporation (BEDC) has entered into an annual multi-year partnership with the Global Atlantic Re foundation to provide BEDC Program participants with capital grants totalling $125,000 a year. These grants will now be issued every year and will help to fuel the growth and success of small businesses throughout Bermuda. The funds will be disbursed at a pitch competition to be held in November as a part of Global Entrepreneurship Week Bermuda.

Partnerships like the one BEDC has entered with the Global Atlantic Re foundation are critical to the success of BEDC and the small businesses it serves. This support will help to fuel the growth and success of small businesses throughout Bermuda, providing much-needed capital to help businesses expand, hire more employees, and contribute to the local economy. 

The pitch competition to be held will allow entrepreneurs to showcase their businesses and pitch their ideas to a panel of judges. The winners will receive capital grants from the Global Atlantic Re foundation, which will help them to take their businesses to the next level.  

The pitch competition will have the outcome of awarding five entrepreneurs up to $25,000 each, as follows:

• 3 Local Industry Innovators: Three companies, regardless of industry, showcasing solutions with local and global impact. Entrepreneurs that have solutions that address education and mental health are encouraged to apply.

• 1 Youth Entrepreneur: Targeting entrepreneurs aged 16 to 25, encouraging the next generation to present their groundbreaking ideas.

• 1 People’s Choice: An audience-selected award, emphasizing community engagement and support.

The Global Atlantic Re foundation will award a total of five grants in the amount of up to $25,000 each to winners in the stated categories. 

Event Format & Support

The presentation format: five minutes to pitch, followed by a Q&A session with a panel of Judges, focusing on clarity and the potential business opportunity. Finalists will benefit from a Pitch Bootcamp, preparing them with key presentation skills and techniques

Requirement to Receive Funding

• Successful grant recipients will need to have a business bank account to receive grant funds.

• Must register as BEDC Member.

• Must have completed OR be enrolled in a BEDC course, workshop, or program prior to receiving all tranches of funding.

This partnership and pitch competition is an exciting opportunity for entrepreneurs to showcase their ideas and get the funding they need to grow their businesses. BEDC and the Global Atlantic Re foundation encourage ALL entrepreneurs in Bermuda to apply for this opportunity and look forward to seeing the amazing ideas and businesses that emerge from this competition.