Eight finalists are to compete for five spots that could win them up to $25,000 at the 2024 Wave of Opportunity pitch competition presented by Global Atlantic Financial Group, the insurance company, in partnership with the Bermuda Economic Development Corporation.

The event, to take place at the Hamilton Princess & Beach Club on November 21, is open to the public and will also be live-streamed.

This year’s competition attracted 65 applications, which were evaluated and narrowed down to a select group of 25, including five outstanding candidates in the Youth category and 20 exceptional entries from local companies.

Following an initial round of preliminary pitches, the field was reduced to five adult finalists and three youth finalists who will compete in the finals.

The five winners will include three local companies from any industry; one youth entrepreneur (age 13-22); and one People’s Choice Award winner voted on by the public.

The three youth finalists are: Akilah Acka with The Playroom, an indoor playground and café for children ages six months to six years; Tre Maxwell and Navigate, a mobile drone light show service offering custom LED drone displays; and Nico Bean for Flow by Nico, unique acrylic paintings, handcrafted ornaments and custom-printed notebooks and phone cases.

The five businesses advancing to the finals are: Adriene Berkeley’s PsyNeu, a mental health practice offering cognitive skill development and emotional wellness services; Lauren Furbert’s Sweat Suites Studio, Bermuda’s first wellness club offering contrast therapy, infrared saunas and cold plunges; Keely Trott and NBK School of Nails, an internationally accredited nail technician school offering comprehensive hands-on training; Jekon Edness and Bermuda Sports Radar, an OTT sports media company offering live event coverage, highlights and profiles for local sports fans; and Ashleigh Simons with Sade Milan Skin, an all-natural intimate skincare brand focusing on self-care and feminine wellness.

“We are thrilled to continue our partnership with BEDC for the Wave of Opportunity Pitch Competition. The calibre of finalists this year is truly impressive, showcasing the innovative spirit and entrepreneurial talent in Bermuda,” said Darryl Herrick, co-head of Reinsurance at Global Atlantic and president of Global Atlantic Re.

“By providing these grants, we aim to fuel the growth of local businesses and contribute to the island’s economic vitality. We look forward to seeing these promising entrepreneurs pitch their ideas and take their ventures to the next level.”

Erica Smith, executive director of the BEDC, said: “We are excited to continue our work with Global Atlantic to provide vital support for Bermuda’s entrepreneurs.

“These partnerships are essential for helping businesses grow and thrive, contributing to the island’s economy. I’m excited for the finals and look forward to seeing the innovative ideas presented.”

The public are encouraged to register for the November 21 event, where they can engage in the competition and vote for the People’s Choice Award.