A maths tutoring centre has teamed up with an asset management firm to launch a scholarship drive to send 500 youngsters to summer maths camps.

Equilibria Capital Management has agreed to fund 50 scholarships and it is hoped that the scholarship drive will raise enough to fund another 450.

Daniel Tafur, a partner in Equilibria, said the company was delighted to be involved and that he hoped others would join in.

Mr Tafur added: “Math is at the core of our everyday activities and advancing children’s math skills is a critical building block to their overall development and future success.”

Equilibria has donated $30,000 to help to fund the programme and it hoped that the appeal for backers will raise another $300,000.

Kevin Warner, of Planet Math, said: "With Planet Math being a community-driven organisation, we aim to always have our services accessible to everyone regardless of their financial situation, environmental or social adversities.

"Fully funding this programme not only brings this wonderful programme to the entire Bermuda community but also ensures that we continue to invest in our future leaders.

“An investment in education is the most important element when it comes to growing and retaining a healthy and sustainable economy."

The scholarships will go to children aged between 5 and 12 and will allow them to take part in a two-week summer camp organised by Planet Math.

The camps were designed to develop maths skills, but will also include arts, science, technology and English education, besides outdoor activities.

The classes are expected to run from 9am to 3.30pm in July and August.

Companies interested in sponsoring scholarships or parents interested in making a scholarship application should e-mail Planet Math at thefibonaccifoundation@gmail.com or call 707-1412.