The Bermuda Tech Summit showcases the island’s innovations and connects global technology leaders

HAMILTON, Bermuda–(BUSINESS WIRE)–That Bermuda Business Development Agency (BDA) the first in-person Bermuda Tech Summit since 2019 was hailed as a great success. The Fourth Annual Bermuda Tech Summit was hosted by the BDA in partnership with the Government’s Department of Economic Development (EDD) and FinTech industry association NEXT Bermuda.

The immediate economic impact of this event at the Hamilton Princess Hotel from October 26-28 with over 300 delegates (nearly 80 overseas) including accommodation, transportation, food and beverage, retail and recreation was estimated at $527,000 and supported 115 local jobs .

Fiona Beck, Independent Director and BDA Board Member, speaking with SailGP at the Bermuda Tech Summit, said: “BDA continues to inspire and the energy of SailGP for Bermuda has been exciting to see. They are world leaders in innovation and sustainability in sailing and describe Bermuda as a top location, both on and off the water. We are fortunate to have such dedicated partners.”

John Narraway, member of the founding committee of NEXT Bermuda, said: “This year’s summit is the culmination of several years of focused and collaborative efforts to gain momentum in the space of technology and digital assets. We are seeing new jobs grow as our member firms expand their local operations and hire experienced Bermudians moving from the traditional finance world to take on roles in areas such as compliance, risk management and human resources.”

Denis PItcher, Chief FinTech Advisor, Government of Bermuda, said: “BDA did an excellent job in organizing an excellent, engaging and well-attended Tech Summit despite the global downturn in traditional and digital asset markets. Event attendance and feedback confirms that FinTech continues to have strong momentum and growth ahead, consistent with the strong pipeline of digital asset businesses, insurers and funds seeking licensing in Bermuda.”

Dan Thomson, CMO, InsurAce said, “We didn’t know what to expect from the Bermuda Tech Summit, but we were blown away by the incredible hospitality and innovation shown by local government, businesses and individuals. InsurAce has been looking for a regulatory framework that fits our vision for the future and we are excited to explore the opportunity to build our business in Bermuda. We can’t wait to come back.”

David Hart, CEO of BDA, said: “On behalf of BDA, I would like to thank our partners, sponsors, speakers and dedicated guests for making such an incredible Tech Summit that showcased Bermuda’s vibrant and growing technology sector and its innovation leadership. ”

Without the generous support of our sponsors: Hub Culture, RELM, Appleby, SailGP, Carey Olsen, Jewel Bank, Walkers and Bittrex Global; as well as Apex, Blockchain Triangle, Bloktime, Clarien, Chainproof, Coinzoom, Global Policy House, Hive and 24 Exchange we were unable to host this in-person event. Our spirits partner was Goslings.

Day 1 keynote fireside chat with Bermuda Premier and Treasury Secretary, The Hon. David Burt, JP, MP, and Michael Casey, Chief Content Officer, CoinDesk, were followed by an Oversight Panel, a Crypto Lending and Yield Products Panel, a NEXT -Bermuda case study, a digital banking committee and a fund committee. The first day was rounded off with a SailGP welcome reception on the Regency Terrace.

The second day started with a talk with SailGP, followed by a panel on digital identity, a capital formation in a bear market panel, a talk on Non-Fungible Tokens (NFT), a newly conceived panel for (re)insurance and ended with a Panel titled: “Is Confidence and Liquidity a Fair Price?”

The last day started with an “ESG and DABs” panel, followed by a panel on “Out of this World Infrastructure”, a panel on “Building and Nurturing a Sustainable Tech Ecosystem” and a panel on cyber security and ended with a discussion about it the future of technology. The closing party, sponsored by RELM Insurance, featured live music and signature cocktails at scenic Fort Hamilton.

“EDD’s Tech Education Day and TechAwards will take place on October 31, after which Bermuda Tech Week 2022 will officially come to an end,” said Mr. Hart. “The BDA looks forward to building on our success and presenting an even better event in November 2023.”

NOTE TO EDITORS

Founded on June 10, 2022, NEXT is Bermuda’s premier industry association for the digital asset business. At launch, NEXT Bermuda consisted of 14 companies fully licensed and regulated by the Bermuda Monetary Authority including: Apex Group, Bittrex Global, Blockfi, Blockchain Triangle, Blockwrk, Circle, CrossTower, Ensuro Re, Jewel Bank, NAYMS, Relm Insurance , Stablehouse, XBTO and 24 Exchange.

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BDA encourages direct investment and helps companies establish, relocate or expand their operations in our premier jurisdiction. As an independent public-private partnership, we connect you with industry professionals, regulators and key contacts in the Bermuda government to assist you with residency decisions.

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