Bermuda has teamed up with the United Nations in a programme designed to create equity in finance.

The Ministry of Youth, Social Development and Seniors, the Bermuda Economic Development Corporation, the United Nations Development Programme Jamaica Multi-Country Office and UN Women have launched the Rise and Scale: Bermuda Business Accelerator under the Building Back Equal programme.

It is inviting women, young people or those living with disabilities who own a business to apply for the fall cohort, which will run from September 19 to October 17.

The joint programme, developed by accelerator partner Founder Institute, aims to break down the exclusions for entrepreneurs experiencing social inclusion gaps and financial gaps by connecting them to global founders’ networks and investors.

The Joint Sustainable Development Goals Programme, titled Building Back Equal through Innovative Financing for Gender Equality and Women’s Empowerment for the Bahamas and Bermuda, aims to provide financing solutions for entrepreneurs who have historically faced barriers such as limited access to capital, unpaid care burdens and digital exclusion.

In Bermuda, the programme will directly benefit 20 businesses through capacity building, mentorship and access to international investment networks.

The Rise and Scale programme is accepting applications until September 15. It will include mentorship from dozens of experienced entrepreneurs from across Bermuda, the Bahamas and around the world.

The five-week intensive will be hosted virtually from Silicon Valley and culminate in a live pitch forum hosted in Hamilton that will be streamed globally on October 17.

Participants will have a platform to showcase their business to international investors from angels to venture capitalists from across the Founder Institute global investor network.

The successful businesses will also have access to the Founder Institute mentorship network of more than 35,000 global investors, founders and global ecosystem partners.

Jamaro Marville, programme analyst at UNDP, said: "This programme comes at a critical time as we work to foster an inclusive entrepreneurial ecosystem that leaves no one behind.

"We are working with key stakeholders to ensure that high-potential businesses in Bermuda gain access to the knowledge, resources and networks they need to succeed. The lessons learnt here will pave the way for other Small Island Developing States to implement similar solutions for equality."

The BEDC will play a key role in the delivery of the programme.

Erica Smith, the executive director of BEDC, said: "Overseeing the development of over 6,000 small and medium-sized businesses, we recognise the immense talent that exists with Bermudan entrepreneurs.

“Through this collaboration with UNDP, we will strengthen their ability to compete on a global scale, equipping them with the financial tools and business acumen they need to be resilient."

Bermuda will serve as a case study on how impact investing can strengthen new industries, such as creative and cultural industries and sustainable tourism, which are pivotal for economic recovery.

The accelerator will be managed by Founder Institute Jamaica co-directors Wayne Beecher and Taneallea Feddis, who spoke of the long-term vision of the project.

Ms Feddis said: "This initiative is setting the foundation for future economic resilience. We are ensuring that founders like female entrepreneurs, who have been historically marginalised, can now step into leadership roles within Bermuda’s innovation and entrepreneurship ecosystems."

For more information on the Gender Equitable Finance and Accelerator Programme, visit fi.co/undp.

A virtual information session will be hosted for the programme at noon tomorrow via the same link, where applications can also be accessed.