Empowering Inclusive Entrepreneurship in Bermuda with UNDP and UN Women
To improve Bermuda’s gender equality and strengthen the local entrepreneurial landscape, Founder Institute, the United Nations Development Programme (UNDP), and the Bermuda Economic Development Corporation (BEDC) launched the Rise and Scale: Bermuda Business Accelerator Program.
The Challenge
Entrepreneurs in Bermuda, particularly women, youth, and people with disabilities, faced several obstacles that hindered business success. The lack of early-stage funding, limited access to mentorship, and restricted connections to international markets make it difficult for new ventures to thrive.
Besides, Bermuda was not widely recognized for its products and services, further limiting local entrepreneurs’ ability to scale beyond the island. Many women entrepreneurs had never received formal business training or mentorship, and the unpaid care burden—balancing responsibilities for children and aging parents—created additional challenges for women-led businesses.
Despite the island’s talented workforce, hidden talent remained untapped due to these barriers. Underrepresented entrepreneurs couldn’t connect with international experts, capital sources, and strategic partnerships beyond Bermuda.
UNDP and BDEC were committed to overcoming these obstacles but needed a systematic approach, up-to-date resources, and a gate to an international business network.
The Solution: A Tailored Accelerator for Inclusive Growth
Founder Institute adjusted its proven startup methodology and leveraged its global presence to support an inclusive and dynamic entrepreneurial ecosystem in Bermuda, opening doors for a wide range of business ventures.
-
1Customized Curriculum and Program Design
The accelerator prioritized mentorship and hands-on learning by recruiting and training a diverse group of local mentors and international industry experts. Throughout the nine-week program, participants engaged in interactive workshops covering leadership, customer development, go-to-market strategy, and equity financing preparation. Founders also had peer-to-peer calls where they shared learnings, tactics, and strategies with like-minded Bermudians at similar stages. In addition to group learning, one-on-one coaching sessions addressed individual business challenges, offering expert feedback to help founders refine their strategies.
-
2Capacity Building and Mentorship
The accelerator prioritized mentorship and hands-on learning by recruiting and training a diverse group of local mentors and international industry experts. Throughout the nine-week program, participants engaged in interactive workshops covering leadership, customer development, go-to-market strategy, and equity financing preparation. Founders also had peer-to-peer calls where they shared learnings, tactics, and strategies with like-minded Bermudians at similar stages. In addition to group learning, one-on-one coaching sessions addressed individual business challenges, offering expert feedback to help founders refine their strategies.
-
3Strengthening Networks and Sustainability
To expand opportunities beyond the program, the accelerator facilitated knowledge exchange sessions with the BEDC technical team on international funding opportunities. Participants also gained access to Founder Institute’s global network of mentors, founders, and investors, improving their ability to secure capital, partnerships, and international collaborations. For long-term benefits, Founder Institute developed a sustainability framework that includes continued mentorship, networking opportunities, and resources for Bermuda’s entrepreneurs well beyond the accelerator’s conclusion.
Key Takeaways
The Rise and Scale: Bermuda Business Accelerator Program began on September 19, 2024, and has delivered a measurable impact.
Results
The long-term vision for Rise and Scale is to serve as a model for other Small Island Developing States (SIDS) seeking to build inclusive and sustainable startup ecosystems.
What’s Next?
Future iterations of the program will focus on:
- Expanding the accelerator’s reach to support a broader range of entrepreneurs and mentors.
- Deepening engagement with international investors and industry experts to increase funding and partnership opportunities.
- Hosting more investor events in Bermuda to provide a better platform for local startups and economic development.
- Switching to the full-scale curriculum that includes new tools, frameworks, and case studies to address changing business challenges.
-
Bermuda Accelerator Inaugural Cohort -
Rise and Scale Pitch Forum
- 21
- Female Business Owners Accelerated
- 12
- Founders Launched New Businesses
- 19
- Renowned Mentors Engaged
- 19
- Women Pitched in Front of Global Investors and Experts
- 20+
- Stories Published in International Media Outlets
These founders are proof that with vision and support, Bermuda can lead by example, setting a standard for inclusive entrepreneurship across small island states and beyond.
Trusted By Top Companies
Our proven methodology helps organizations turn bold ideas into measurable results.
Want to drive real innovation?
Read more case studies
Discover the success stories of other customized programs creating real impact for entrepreneurs
-
Boosting Economic Growth Across Eastside Seattle with Startup 425
TStartup 425, a collaborative economic initiative by the Eastside cities of Seattle, partnered with Founder Institute to create a free accelerator supporting first-time entrepreneurs in launching sustainable businesses. Leveraging FI’s proven methodology and platform, the program introduced a dedicated track for founders of traditional businesses, ensuring accessibility for a diverse range of entrepreneurs.Read more -
Supporting Afghan Women Entrepreneurs with U.S. Agency for International Development (USAID)
FI's program in Afghanistan evolved into a sponsored accelerator with USAID. Its goal was to continue fostering entrepreneurship in Kabul with a focus on providing opportunities for women to launch companies. FI ran two pre-seed accelerator programs, training over 700 attendees and launching 22 new technology startups, with 35% being women-led.Read more
More About Founder Institute
The Founder Institute (FI.co) is the world's largest pre-seed startup accelerator. Since 2009, we have helped tens of thousands of employees and new/ idea-stage entrepreneurs validate, test, and launch startups worth an estimated $30BN+. Our mission is to activate and empower talented and motivated entrepreneurs to build meaningful technology businesses worldwide
The Founder Institute is the world’s most proven network to turn ideas into fundable startups, and startups into global businesses. Since 2009, our structured accelerator programs have helped over 7,500 entrepreneurs raise over $1.85BN in funding. Based in Silicon Valley and with chapters across 100 countries, our mission is to empower communities of talented and motivated people to build impactful technology companies worldwide.
