If you’re a student under the age of 18 with a burning new business idea, now is the time to develop it.

The Bermuda Economic Development Corporation is looking for the next great business idea from students across the island for the 2019 Youth Pitch.

The Youth Pitch category of the Rocket Pitch Competition was launched in conjunction with Global Entrepreneurship Week, a celebration to inspire, mentor and engage the public around all things entrepreneurial. The framework of the Youth Pitch presentation is simple: the presenter has five minutes and eight slides to tell the story of their business or idea to a panel of judges and then respond to questions. For the Youth Pitch category, this process will involve a public preliminary competition to be held on November 18 at the Bermuda College. The first and second place winners will receive $3,000 and $1,000 respectively which includes a start-up package of cash, and services to assist with the development of their business idea.

This year, BEDC are also introducing an award of $500 to the school who submits the most entries to bolster school participation.

“This is a great opportunity to turn your business idea into reality,” said Raymond Lambert, BEDC director of micro, small & medium enterprises. “What we have found is that young people look at things from a different perspective, and this year we are looking to find some very exciting submissions.”

He said last year BEDC was overwhelmed with the level of responses and this year expect to have even more submissions and a very competitive event.

Last year’s Youth Pitch winners, partners Madison Thompson & Natalie Calderon pitched Meal Deal, a service-oriented app that records and tracks items in your fridge and lets you know when you’re running low on something. ‘Guess What?’, an innovative taste guessing game that is played in groups was the brainchild of second place winner, Andreaz Glasgow.

A spokesman from the BEDC said those who are interested in submitting a Youth Pitch will find they receive plenty of support with workshops taking place the week of November 2 at the organisation’s offices. The free workshops will consist of presentation tips and coaching. All contest pitches will need to be submitted on Power Point with all submissions due November 2, at 5pm.

For further details, download the “pitch kit” at www.gew.bm or contact Mr Lambert at 292-5570 or e-mail rlambert@bedc.bm.

The BEDC’s mission is to serve Bermuda’s local business community with the highest degree of professionalism by providing, authoritative business advice; counsel and loan guarantee support. For more information visit www.bedc.bm.