BTA’s big cash investment for entrepreneurs next year
A total of 14 entrepreneurs and event producers could receive up to $210,000 in investments, the Bermuda Tourism Authority has announced.
The BTA has already approved funding for nine applicants to its Experience Investment Programme.
Another five participants were deferred pending approval of their business or verification of information.
The entrepreneurs and event producers will provide tourism ventures to run in the first six months of 2020.
A spokeswoman for the BTA said that funds will be given to the applicants once they agree to contract terms with the BTA.
She added that performance targets must also be reached before the full investment is handed over.
A total of 26 applications were submitted between September 1 and October 10 for the autumn round of the programme. Glenn Jones, the chief experience development officer at the BTA, said:
In Global Entrepreneurship Week, we salute all the entrepreneurs who built proposals and put their ideas forward in our Experience Investment Programme.
We look forward to more than half of the 26 proposed projects taking flight, hopefully deployed into our tourism economy between now and next summer.
The approved tourism ventures were:
Art of Resistance tours of City of Hamilton artwork to highlight African-Bermudian history
Festival of Performing Arts an annual winter showcase of international performing artists
Future Leaders learning experiences for visiting educational and research institutions to promote cultural immersion, education, eco-volunteering and community projects
Harbour Nights a weekly street festival of late-night shopping, entertainment and art in Hamilton
Made in Bermuda Nights a weekly series of outdoor summer concerts featuring local musicians
Pan African Music Festival a festival of musicians from South Africa matched with local performers
Rum Punch Brunch a brunch and day-party food experience held at cultural sites and parks
X20 Adventures an inflatable water park located in the islands West End
Yoga en Blanc health retreats geared to African-American travellers
The Experience Investment Programme was designed to help the growth of businesses and start-ups in the tourism industry.
The programme will accept more applications throughout March next year.
The BTA will host preparatory workshops on February 27 28 for businesspeople who want to apply.
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