Accessing seed capital is one of the greatest hurdles on the way to converting a great idea into a business.

An event in Bermuda next month aims to equip entrepreneurs with the knowledge and international contacts to succeed in early-stage fundraising.

The Bermuda Democratising Venture Global Summit will feature high-profile speakers from overseas and a series of sessions providing practical advice on raising capital.

The event, which will take place at the Royal Bermuda Yacht Club on November 6, will connect Bermudian entrepreneurs, investors, family offices, advisers and policymakers, with themes including artificial intelligence, cyber, fintech, insurtech, black entrepreneurship, older entrepreneurship and family businesses.

The event has been organised by Qodeo, an international platform that conects more than 20,000 entrepreneurs and over 7,400 investors, including venture capital and private equity firms.

Qodeo says its platform “marks the end of the needle-in-a-haystack approach to finding investment”.

The platform uses qualitative data and algorithms to match entrepreneurs with potential funders. It is subscription-based at $99 per year.

Next month’s event, planned to coincide with Global Entrepreneurship Week, is backed by the Bermuda Economic Development Corporation, entrepreneurial incubator Ignite, and several local sponsors and partners, including Bermuda Commercial Bank, KPMG, Bacardi, BermudAir and the Bermuda Tourism Authority.

Simon Glass, chief executive and director of Qodeo, told The Royal Gazette: “The aim is to upskill the local community and broaden access to international networks. It’s not a pitching competition.

“Entrepreneurs need to find investment and investors are looking for a deal flow. Qodeo provides a platform for them to connect.

“Entrepreneurs typically make a lot of mistakes in their fundraising journeys, which impinge on their ability to even start the right journey. We want to help them understand how to avoid those common mistakes and improve their chances.”

He said many people believed venture capital flowed only to large centres of innovation, such as London, New York, Berlin, Tel Aviv, and Singapore. They were mistaken, he said.

“About 80 per cent of the opportunities for VCs are regional,” he said. Qodeo’s mission was to break down barriers between diverse entrepreneurs and capital, he added.

Qodeo, which was founded in 2021, has staged similar events elsewhere, including Edinburgh, Durham, North Carolina, and the House of Lords at London’s Palace of Westminster.

Mr Glass said ten to 12 international speakers will be participating in the event, with details to be released shortly.

The day-long event will start with a panel discussion providing insights from leading global venture and private equity investors, entrepreneurs, and academics.

The sessions will include sessions on:

• Improving your pitch — what investors want

• Building angel investor and family office networks

• Black entrepreneurs

• Women entrepreneurs

• Older entrepreneurs (55 plus)

• Sectors — including agri, tech, telco, insurtech, and cyber

• Family business

• Hospitality and tourism

• Intrapreneurship; education, health and fitness

The event will include a “mini fundraising myth-busting workshop”, as well as a segment on AI.

The RBYC venue can accommodate up to 120 people for next month’s event. Standard entry costs $399, while entrepreneurs can be approved for a discounted $249 rate.

• For more information about the Bermuda Global Democratising Venture Summit, visithttps://qodeo.com/democratizing-venture-summit-bermuda/