Budding young entrepreneurs are invited to show their business savvy during an innovative training scheme this summer.

The Youth Entrepreneurship Initiative in conjunction with the Bermuda Government’s department of ICT policy and innovation is conducting two seven-day BizCamps at Bermuda College.

The camps will be for 48 aspiring Bermudian entrepreneurs from the ages of 13 to 17.

The first session is July 6, and the second runs from July 17, weekends are excluded.

During the past 17 years about 1,000 young people have developed and presented business plans, earning certificates for participating in the programme.

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.

He 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 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, said: “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 and innovation, Bank of Bermuda Foundation, Tokio Millennium Re, Chubb Charitable Foundation, Argo Foundation, PartnerRe and One Communication.

Participants will be admitted on a rolling basis until there are 24 members for each week.

Electronic applications are available at www.bedc.bm (follow the BizCamp link in Events), and www.BermudaCamps.com. Alternatively send an e-mail to: ICTPolicy@gov.bm.