Caines praises Bermuda participation in innovation summit

Bermuda’s Minister of National Security Wayne Caines has praised Bermuda’s participation in the fifteenth Montgomery Summit in California, a leading innovation conference which attracts a community of investors, executives and entrepreneurs from across the US and the world.

The aim of the two-day conference is to promote exploration of trends and opportunities in the innovation economy. This year, attendees totalled over 1,200.

Speaking in Parliament, Caines said that: “Bermuda’s attendance was organised by the Bermuda Business Development Agency and included myself, with representatives from both the BDA and industry partners.

“The conference provided fruitful opportunities to meet start-ups and investors and talk to them about the value Bermuda can offer in the blockchain/digital currency arena—particularly our respected regulatory environment and the certainty our domicile provides for ventures looking to expand internationally.

“Many of the early-stage start-ups we spoke with were high-growth companies looking for an international strategy. Attendees were responsive to the fact Bermuda is tech-friendly and that our jurisdiction, unlike most others, moves ideas forward quickly thanks to collaboration between our public and private sectors.”

The Minister said that the Bermuda delegation had spoke of Bermuda’s regulatory advantage in an increasingly complex business world, adding that the people they spoke with were excited about the Bermuda Government’s plans in the blockchain and virtual currency sphere.

Caines stressed that the Government’s main message was that Bermuda is open for business in this fast-developing digital economy and that listening to experts at the Montgomery Summit validated its efforts so far as well as its plans for the future.

Caines thanked the BDA and industry stakeholders who attended for their support of Bermuda and their dedicated work for the Island during the conference.