This week, the Minister of Economy and Labour, Hon. Jason Hayward, JP, MP, proudly represented Bermuda at the 2025 Global Entrepreneurship Congress (GEC) held in Indianapolis, Indiana, from June 2 to 4. Participating in the high-level Startup Ministerial Session, representatives from the Bermuda Economic Development Corporation (BEDC) joined Minister Hayward as part of a united delegation promoting Bermuda's growing entrepreneurial ecosystem.
In his remarks, Minister Hayward outlined Bermuda's strategic commitment to fostering innovation and small business growth as part of its broader economic development strategy. "Entrepreneurship is a key pillar of our national agenda," he stated, highlighting efforts to build capacity through incubators and accelerators across both public and private sectors.
He emphasized the importance of youth engagement in entrepreneurship, referencing initiatives such as student interventions, webinars, workshops, and summer programs designed to nurture young business minds.
Minister Hayward also announced the development of a National Entrepreneurship Strategy that will ensure policies, resources, and tools are aligned to support small and medium-sized enterprises (SMEs). In tandem, work on a Digital Economy Strategy is being undertaken, with a focus on advancing digital entrepreneurship as a pathway for job creation and future economic resilience.
Recognizing persistent challenges, Minister Hayward highlighted the need for improved access to capital. "Traditional financing models often fall short for startups," he noted, stressing the importance of building stronger bridges between entrepreneurs and investors. He also emphasized the need for SMEs to adopt a global mindset, with the government working to facilitate connections to international markets and entrepreneurial ecosystems.
In addition to participating in the formal sessions, Minister Hayward engaged in a series of bilateral meetings with officials from Ghana, Nigeria, and Zambia to deepen economic cooperation and knowledge exchange in areas such as financial services, digital innovation, workforce development, and SME support.
He also met with Mrs Arlette Verploegh, Head of Entrepreneurship Development at UNCTAD, to explore collaboration on Bermuda's digital and national entrepreneurship strategies, climate innovation, and global engagement opportunities such as the World Investment Forum 2026.
Erica Smith, Executive Director of BEDC, stated. "The Global Entrepreneurship Congress connects Bermuda with global resources, knowledge, and markets. We were proud to have Minister Hayward share Bermuda's policies and progress with the international community and look forward to continued collaboration."
Minister Hayward concluded by affirming the Government of Bermuda's commitment to strengthening the entrepreneurial landscape through strategic policy reform, reduced red tape, and sustained collaboration with key partners like the BEDC.