Young people with an idea for a new business have been encouraged to pitch their project to the Bermuda Economic Development Corporation.

The organisation is looking for students under the age of 18 to pitch the next great idea for a chance to compete in the Youth Pitch category of the BEDC’s annual Rocket Pitch Competition.

The Youth Pitch preliminary competition will be held on the evening of October 28 as a virtual event on Zoom. The BEDC will host with the help of key sponsors Horizon Communications, the Bermuda Tourism Authority and the Economic Development Department.

Participants in the preliminary competition will have five minutes and eight slides to tell the story of their business or idea to a panel of judges and then respond to questions.

Young entrepreneurs with the top two business ideas will advance to the Rocket Pitch finals on November 9 for a chance to win $5,000, which includes a start-up package of cash and services to assist with the development of their business idea.

Raymond Lambert, director of micro, small and medium enterprises at BEDC, said: “This is a great opportunity to turn your business idea into reality. Young people look at things from a different perspective, and this year we are looking forward to new and exciting submissions.”

Last year’s Youth Pitch winners, Bermuda High School students Loré de Kock and Moya van Niekerk, earned first place with their business idea, Volunteer Bermuda, an online platform that connects charities with volunteers.

Mya Furbert-Jacobs took second place with her custom cosmetics line.

She said: “I had never thought that I would get the opportunity to compete in Youth Pitch and go on to Rocket Pitch and present to an even larger group and win a sum for my business. When I was announced second-place winner for the Rocket Pitch competition, I was proud of myself. Proud of myself for bringing myself forward and for trying.

“The most important skill to have as an entrepreneur is the ability to try, and never give up. Businesses and entrepreneurs have their ups and downs, and it is vital to stay focused and never give up on a dream you believe in.”

The BEDC said that entrants into the Youth Pitch competition will benefit from free workshops with presentation tips and coaching.

Entrants are encouraged to download a “pitch kit” to get started. The kit is a guide to help young entrepreneurs to develop their pitch and ensure that they provide all of the necessary information.

Download a pitch kit at www.gew.bm.

The BEDC asks entrants to submit completed pitch kits at www.gew.bm or e-mail them to info@bedc.bm.

The submission deadline is Monday, October 11, by 5pm.

For further details, e-mail info@bedc.bm.