Ignite cohort creates 15 full-time jobs
The second group to graduate from the Ignite Bermuda programme have created 15 full-time and 28 part-time jobs.
The cohort of 34 participants has also collectively achieved sales growth of 5.7 per cent.
Those results are all the more impressive as the six-month entrepreneurial accelerator programme had to navigate through the Covid-19 pandemic, which meant switching to virtual meetings and workshops.
For each Ignite Bermuda cohort, data is collected from the participants to track and measure the impact of the accelerator programme.
Despite the unanticipated setbacks caused by the coronavirus crisis, the Ignite team and entrepreneurs to shift their way of business; many pivoting their companies as a whole.
The second cohort, which started in January, saw a 65 per cent improvement in “knowing their numbers” and 20 per cent increase in producing a business plan.
Don Mackenzie, Ignite co-founder and chairman, said it “reinforces Ignite's belief that entrepreneurs and small businesses have the mindset and skill sets to create growth and jobs in all economic conditions”.
Many cohort members said that without the strong community and mentorship Ignite cultivates they would not be where they are today.
Claire McDevitt, founder of Healthcare Solutions, said: “Even with Covid happening and business slowing down, we felt so supported through Ignite with the mentorship”.
Ignite continues to grow their mentor network to provide support and expertise to its entrepreneurs and community leaders every step of their journey.
Gordon Johnson, co-founder of Circle, believes the greatest thing Ignite has taught him is “together, we can”.
He said: “It has represented an opportunity to continue to grow and learn while everything else is changing”. I felt I could reconnect with a group that I really trusted. I depended on the continuity of that connection as my anchor.”
Ignite Bermuda continues to grow an entrepreneurial ecosystem. With the start of cohort three last month and inclusion of the third sector, there is an incredible amount of opportunity in our community.
Mr Mackenzie said: “As economic uncertainty will increase in the near future, the role of entrepreneurs and small businesses will be even more vital in supporting our mission of widening economic participation and addressing economic inequality in Bermuda.”
The application for the next cohort will be available January 2021.
• More information about Ignite Bermuda's Accelerator Programme can be found online via www.ignitebermuda.com?