The Bermuda Business Development Agency (BDA), is back on the move this week promoting Bermuda as a global hub for new investment in emerging technologies.
The local delegation jetted to Montgomery Summit in Santa Monica, California, “to meet with investors, entrepreneurs and corporate executives at a leading innovation conference in the United States”.
The two-day panel discussions, presentations and one-on-one meetings on technology-related topics such as blockchain, crypto currencies, and artificial intelligence (AI), attracts an estimated 1,200 invited attendees.
National Security Minister Wayne Caines said: “It’s been interesting to meet people who already know a lot about Bermuda and our reputation in the business community but want to learn about growing opportunities in our tech space.
“We are encouraging them to look at Bermuda for any business need, specifically some of the new initiatives related to cryptocurrencies and blockchain.
“It is also a beneficial opportunity to meet thought leaders, to understand the direction the world is headed in technology – and, importantly, to see we are on the right track,” he added.
In a video interview with Nasdaq on day one of the event, Minister Caines underscored Bermuda’s centuries-long history of innovation and entrepreneurship – from sloops, shorts and onions to pioneering insurance products.
And he said that same spirit of ingenuity is driving solutions to new ventures in the fast-developing digital economy.
BDA consultant for emerging technolgies, John Narraway added: “The big value we see here is the ability to talk to early-stage start ups, as well as those investing in them, about what Bermuda can offer – particularly our respected regulatory environment and the certainty our domicile can provide for ventures looking to expand internationally.
“A lot of industries we’re looking at are high-growth companies and they’re accelerating at a speed for which they really do need to contemplate an international strategy.”
Conyers Partner, Chris Garrod, who has helped some of the first digital token insurers launch a corporate presence on the island, and serves on the Govenrment’s Blockchain Legal and Regulatory Working Group, noted: “People have been very responsive to the fact that Bermuda is tech-friendly and pushing things forward through the collaborative efforts of our public and private sectors.
“Bermuda is being recognised here as a place that, through responsive, nimble yet respected regulation, is ensuring it keeps its reputation intact as a blue-chip jurisdiction – a place where quality is always going to trump quantity,” he added.
The Bermuda delegation hosted a breakfast meeting this morning for invited guests, including investors and start-up executives.
A mid-day panel discussion will be held later today, entitled ‘Bermuda: The New Value Equation’, moderated by Mr Narraway.
Panelists include the Minister, Mr Garrod, and Aron Dutta, founder and CEO of Vaphr, a Bermuda-based blockchain accelerator that last year selected Bermuda as its global hub.
Bermudian Gina Pereira, CEO of private-client advisory firm Dana Philanthropy, is also representing the island at the event.
- Photos Courtesy of BDA: Bermuda Group, from left, John Narraway of the BDA, Gina Pereira, CEO Dana Philanthropy, Chris Garrod of Conyers, Minister Wayne Caines, and Aron Dutta