BDA delegation visits US innovation conference

09-03-2018

A delegation organised by the Bermuda Business Development Agency (BDA) has been attending a leading innovation conference in the US.

The two-day Montgomery Summit in Santa Monica, California comprises panel discussions, presentations and one-on-one meetings on technology-related topics such as blockchain, crypto currencies, and artificial intelligence (AI). The event attracts an estimated 1,200 invited attendees.

"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," said Minister of National Security, Wayne Caines. "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."

In a video interview with Nasdaq on the first day of the event, Minister Caines underscored Bermuda's centuries-long history of innovation and entrepreneurism, stressing that the same spirit of ingenuity is driving solutions to new ventures in the fast-developing digital economy.

"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," said John Narraway, BDA consultant for emerging technologies, who joined the Minister for a video interview.

"A lot of the 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," said Narraway, who also heads the Bermuda government's blockchain business development working group.

"People have been very responsive to the fact Bermuda is tech-friendly and pushing things forward through the collaborative efforts of our public and private sectors," said Chris Garrod, partner at Conyers, who has helped some of the first digital token issuers launch a corporate presence on the island, and also serves on the government's blockchain legal and regulatory working group. "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."

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