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i3 is partnering with the DMZ, the world's leader incubator to provide our entrepreneurs access to a first-class incubator program. This program will be based in Bermuda and will allow entrepreneurs to participate in virtual programs offered by the DMZ alongside founder colleagues.
InnoFund’s purpose, as stated in the MOU with the Government of Bermuda, is to create a business to incubate tech companies incorporated in Bermuda; make strategic investments in tech startups that would attract second and third round funding to Bermuda; and develop a user-fee based software (BPMS) with profits put back into the business.
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nnoFund Innovation Incubator (i3) is Bermuda’s first international technology incubator program designed to support the implementation and growth of innovative technologies in Bermuda.
i3 has partnered with the top-ranked DMZ at Toronto Metropolitan University (formerly known as Ryerson University) to offer entrepreneurs access to a first-class incubator program. The effective date for the agreement of $500k/ 5 years between InnoFund and the DMZ is July 1, 2020. The contract will continue in force until May 31st, 2024 and may be extended for a further 5 years, based on mutual agreement by both parties before the end of year 4.
The i3 program is based in Bermuda while allowing our entrepreneurs to join their founder colleagues in virtual programming delivered by the DMZ. The programming runs for 12 months, with the option for an additional 6 months of customized support.
AtlanticX is an initiative launched in late 2021, with the goal of engaging the Bermuda local and international (re)insurance community, to assist in attracting and supporting InsurTech start-ups to explore Bermuda. The AtlanticX program is exploring 2 program streams: a corporate “Challenge” model using a reverse pitch process to identify internal challenges for which a start-up solution may be sourced to address; and a “Top 25” invitation to select InsurTech start-ups to apply for an on-Island Bermuda Immersion experience.