America's Cup Business
America’s Cup roadshow’ of public forums
Prospects for entrepreneurs during the 2017 America’s Cup are being explored with a “roadshow” of public forums around the Island.
The Senate heard yesterday from Michael Fahy, the Minister of Home Affairs, that about 45 people attended an initial information session on Tuesday night at the Bermuda Institute of Ocean Sciences in St George’s. Another session is set for 6pm today at Sandys Secondary Middle School, with a third next Tuesday at the Heritage Worship Centre in Hamilton.
Sen Fahy said the aim was “to provide businesses with first-hand information on the events planned and the opportunities available over the next couple of years, and to allow entrepreneurs to ask direct questions”. The Bermuda Economic Development Corporation has teamed up with the America’s Cup Event Authority, America’s Cup Bermuda and the Bermuda Chamber of Commerce to create America’s Cup Business Connect, which Sen Fahy said would serve as a conduit for America’s Cup information and business opportunities to those registered with the BEDC.
Registration can be taken via the website, www.bedc.bm
“The BEDC has also agreed to participate on the selection committee of vendors for the AC World Series Event Village, to take place on Front Street in October,” Sen Fahy said.
“Applications will be released on June 1, with applications due on July 1.”
He said an estimated $250 million was expected to be spent on the Island as a result of the 2017 event.
The BEDC has $6 million available in loan guarantees, and thus far has 50 businesses on its portfolio: 38 loan guarantees and 12 micro loans.
Guarantees total $1.7 million, allowing access to a further $5.5 million in financing.
• For the full ministerial statement, click on the PDF link under “Related Media”.
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