Bermuda: Innovation Island

April 20, 2021

Bermuda’s goals within the blockchain industry have always been clear; to become a global leader in encouraging the growth of emerging technology companies. 

In 2018, Bermuda delivered on the first milestone of this goal with the historic Digital Asset Business Act of 2018 (DABA), overseen by the Bermuda Monetary Authority, Bermuda’s financial regulator. With Bermudian roots in the our team and education at our core, Penrose drove forward to deliver educational workshops and to introduce industry innovators to the island.

Shortly after these intentions were set, our Partners met with The Premier, Hon. David Burt, in New York to discuss the role Penrose could play in the island’s strategy. The answer was clear: education and community growth. 

Penrose’s Canadian Cohort meeting with Premier David Burt.

To accomplish the goal of education, Penrose Partners has:

  • Completed a digital payments feasibility study between Bidali and Goslings Limited Rum.
  • Hosted over 20 workshops for senior-level executives across the insurance and legal sectors. 
  • Produced policy and market analysis of the historic 2018 Digital Asset Business Act (DABA)

Beyond education, Penrose has worked extensively to grow the technology community in Bermuda by coordinating several international delegations to bring our network of international technology clients to Bermuda to engage with local stakeholders. These events and delegations included:

  • Bermuda Tech Week (2019, 2020)
  • The Canadian Technology Summit in Partnership with the Canadian Government
  • The Bermuda Blockchain & Sustainability Symposium
  • The International Technology Summit in Partnership with the Bermudian and Canadian Governments
Penrose co-founder, Kerem Kolcuoglu, hosting at The Candian Technology Summit in Bermuda

Kerem Kolcuoglu, a proud Canadian hosting in his full Bermudian attire.

We are very excited about our vision alignment with the Bermuda Government and are ready to push forward the next phase of this industry’s growth in Bermuda. Penrose Partners have officially partnered with the DMZ Accelerator program and the InnoFund Group to together launch Bermuda’s first international technology incubator. Keep an eye out for more information soon!

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