The Minister of Economy and Labour is calling on emerging entrepreneurs to sign up for the next round of the Bermuda Economic Development Corporation’s development programme.

Applications are open now for the BEDC’s Enterprise Bermuda Incubator, running from July 10, 2025 to March 12, 2026.

Jason Hayward told the House of Assembly the EBI has had a clear and positive impact on business growth.

“It is a key initiative of the BEDC that continues to foster the development of early-stage entrepreneurs and equip them with the resources, knowledge and support to scale their businesses sustainably,” he said.

After the sixth cohort graduated in April, 91 per cent rated the programme positively, indicating it was either satisfactory or very satisfactory.

All participants experienced business growth, with 36 per cent reporting significant improvements and 64 per cent noting moderate gains.

Those taking part also reported notable enhancements in entrepreneurial knowledge. Top areas of learning included branding and marketing, customer discovery and pitching and strategy. Other valuable insights were gained in fundraising, product development and legal considerations related to intellectual property.

Participants also praised the quality of mentorship, the value of international exposure, including site visits such as the trip to New York City to attend the Fast Company Innovation Festival, and the opportunity to learn from real-world examples.

The cohort cited a strong sense of community and peer support as essential to their development.

EBI was established in 2018 to provide start-up founders with the tools and environment needed to take their businesses from idea to operational.

Fifty people have taken part in EBI, so far, with many going on to establish solid businesses.

The programme runs for up to 12 months and provides participants with subsidised office space, intensive training, personalised mentorship and access to local and international networks.

EBI is designed to create an environment where entrepreneurs can focus full-time on turning their ideas into viable businesses.

Through BEDC’s partnership with the Accelerator Centre in Waterloo, Ontario, Canada, EBI delivers internationally recognised training and mentorship that positions Bermuda’s entrepreneurs for long-term success.

The minister commended the BEDC team, partners and graduates for their ongoing dedication.

“Their success highlights the progress we are making towards a more resilient and self-reliant Bermuda,” Mr Hayward said. “This Government will continue to support such progress through programmes like EBI.”

He said the development of a thriving entrepreneurial ecosystem aligned directly with the entrepreneurship and small business development pillar of the Economic Development Strategy.

The deadline to apply for the next cohort is June 23, with ten available spaces.