The future of Bermuda's international business sector was showcased at the Association of Bermuda International Companies (ABIC) Education Awards luncheon yesterday.

The event, which was held at the Harbourfront Restaurant, saw 24 Bermudian students win scholarships to pursue business-related university undergraduate degrees in the US, Canada and the UK.

ABIC raised a record $619,200 in scholarships this year, 96 percent of which went towards the youngsters' studies, with 21 ABIC Education Awards scholars currently studying abroad benefiting from their second year of funding.

This year's 24 recipients, made up of a 50:50 split between male and female, were whittled down from a field of 52 applicants, 43 of whom went onto the interview stage, with each student receiving $30,000 for the next two years of their studies.

In the past 10 years companies have donated more than $4 million for scholarships, with some 218 students benefitting.

After a welcoming address by Roy Fellowes, chairman of the ABIC Education Awards, David Ezekiel, chairman of ABIC spoke.

Keynote speaker Patrick Tannock, executive vice-president of ACE Bermuda and vice-chairman of ABIC, then talked about the skill-sets needed to succeed in the international business arena, and the opportunities and challenges presented.

"International business requires employees of a world-class standard," he said. "And the acquisition of skills through education is key to meeting those standards, and successfully participating in the modern workforce."

He told the students that while Government had afforded Bermudians the chance to get into international business, it was something that should not be taken for granted.

"Government has made a mandate that Bermudians are given an opportunity to participate in international business and that is something I will whole-heartedly support, but no one is going to give you a job unless you have the right skills," said Mr. Tannock.

"What gets you in the door is not necessarily going to keep you in there - the skill-sets are changing all the time and the challenges out there are absolutely constant.

"If you are a high performer and have high potential, you can go to the likes of Japan, Hong Kong, London and New York.

"Again, networking is absolutely critical, but no one is going to do anything for you, you have to make it happen for yourself - it is more to take responsibility for your own success."

The luncheon, which was attended by Labour, Home Affairs and Housing Minister David Burch, was wrapped up with a presentation of the awards to the students, who included Cyniqua Anderson, Krina Arorash, Michael Brangman (who also won the 2008 Michaelle Outerbridge Memorial Award), Ade Brown, Rondrica Butterfield, Deshay Caines, Lamara Caines, Shakir Darrell, Sakinah Dill, Naeemah Fubler, Allison Grenfell and Omar James.

The other recipients were: Laura Norman, Sherika Parfitt, Johnae Perinchief, Alfred Roberts, Natasha Shabdeen, Idris Smith, Zoe Smith, Rojon Trimm, Jahvon Washington, Kijuan Wilkinson, Bryce Williams and Charles O'Brien.

Scholarship sponsors: Tyco, Elan International Services, Ace Group of Companies, Lombard Odier Darier Hentsch Bermuda Ltd., Validus Re, Max Bermuda, Ariel Re, Oil Group of Companies, Arrow Capital, Orbis Investment Management Ltd., Partner Re, Platinum Underwriters Bermuda Ltd., Aon, Flagstone Re and HSBC Insurance Solutions (Bermuda) Ltd. Others included Swiss Re, HFI Global Ltd., Union Bancaire Privee Asset Management (Bermuda) Ltd., Amlin Bermuda Ltd., Fidelity International Ltd., Endurance Specialty Ltd., Tyco Electronics Ltd., Apsen Insurance Ltd., Zurich, XL Foundation, Axis Specialty Ltd. and Bacardi Ltd.