High Interest in Tourism Entrepreneurism
Fifty-two people attended the Bermuda Tourism Authority’s series of workshops designed to help tourism industry ideas get off the ground. That’s the highest number to participate in the workshops since the Tourism Investment Experiences Programme began in 2014.
Entrepreneurs now have until September 29th, 2017 to submit their applications online. The submissions are evaluated against a transparent evaluation process. Those aligned with the overall tourism strategy and show a return on investment receive funds or marketing support from the Bermuda Tourism Authority.
Funding awarded through the programme is withheld until key milestones, such as government approval for a new experience, are met. All awards are subject to reporting requirements and a rigorous evaluation of return on investment.
“Our product and experiences team is working hard to stimulate new ideas and then support those entrepreneurs who come forward with a solid plan,” said Bermuda Tourism Authority Chief Executive Kevin Dallas. “However, good ideas are sometimes stalled or strangled by regulations and red tape. The Bermuda Tourism Authority is working with government and other stakeholders to simplify the process for entrepreneurs and hopefully, as a result, fuel job creation, Bermudian business ownership and enhanced experiences for visitors.”
Applicants who did not attend this year’s workshop are encouraged to review the workshop presentation online before making their submission. The latest in tourism strategy and market research make up a large portion of the presentation.