Nearly 50 aspiring entrepreneurs are to get the chance to learn how to set up their own businesses.

The Youth Enterprise Initiative (YEI) BizCamp will run twice over the summer in two seven-day sessions.

The students, aged between 13 and 18, will learn about opportunity recognition, cost of goods, pricing and marketing, as well as other useful skills and present their own business plans at the end of the session.

YEI executive director Joe Mahoney said: “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 specific information for their own business idea and present it to a panel of judges selected from the business community.”

The 48 students, who will be based at the Berkeley Institute, will also hear from guest lecturers and get the opportunity to carry out online research and field-based market research.

And former students will return to serve as assistant tutors on the course.

Last year, 42 students took part in the scheme and earned certificates for participation, with a “super seven” semi-finalists competing for prizes during the business plan competition.

Jamilah Lodge, from the Bermuda Economic Development Corporation (BEDC), who served as BizCamp judge, said: “This is an awesome opportunity to see what the future of Bermudian entrepreneurship looks like.”

The courses, which are free of charge, are supported by Government’s Department of E-Commerce and sponsored by the Bank of Bermuda Foundation, Tokio Millennium Re, ACE Foundation, PartnerRe and Cellular One.

All expenses are covered by the YEI, including training materials, lunch and prizes.

Electronic application forms for the courses, which will run between July 6-14 and July 16-24, are available at www.gov.bm by following the BizCamp link or send an e-mail to e-commerce@gov.bm.