Budding teenaged entrepreneurs are invited to show their business savvy during an innovative training scheme this summer.
The Youth Entrepreneurship Initiative (YEI) in conjunction with the Department of ICT Policy & Innovation will conduct two 7-day BizCamps at Bermuda College for 48 aspiring young Bermudian entrepreneurs 13 to 17 years old.
Session One dates are July 6th to 14th with Session Two running July 17th to 25th excluding weekends. Over the past 17 years close to 1,000 youths have developed and presented business plans, earning certificates for participating in the program.
During these intensive programs, students use textbooks, a syllabus specific workbook, online research, guest lecturers and field-based market research to learn about opportunity recognition, cost of goods, pricing, marketing and many other aspects of running a company. Their objective is to develop and present their own comprehensive business plan at the end of the session.
Joe Mahoney, Executive Director of the YEI uses curriculum from a combination of sources including the Network for Teaching Entrepreneurship (www.nfte.com), Babson College, (www.babson.edu) and the Consortium for Entrepreneurship Education (www.ceed.org).
He states, “The goal is to inspire young people to become business-savvy and economically self-sufficient. Participants are provided with a business plan template. After learning the concepts, they complete the plan with information for their own business idea and present it to a panel of judges selected from the business community.”
Local entrepreneurs and financing partners present real-world practices. One of them, Jamillah Lodge of the Bermuda Economic Development Corporation, who also served as a BizCamp judge stated, “This is an awesome opportunity to see what the future of Bermudian entrepreneurship looks like.”
Former student BizCamp Competition winners return to serve as assistant teachers. This year they include Dajhi Grimes, Dallas Scott, Yassine Chentouf, and Alex Doyling.
There is no cost for students who are accepted to attend BizCamp thanks to the support of the Department of ICT Policy & Innovation and our other sponsors the Bank of Bermuda Foundation, Tokio Millennium Re, Chubb Charitable Foundation, Argo Foundation, PartnerRe and One Communication.