November in Bermuda is quite the exciting month! It features a number of activities, including Global Entrepreneurship Week (GEW), where the whole country takes part in the month-long celebration. The calendar is well-populated and full of events and activities, all celebrating entrepreneurship and innovation. One such event, which was established in 2006 by the Bermuda Government’s Department of E-Commerce and has since grown into the highlight of GEW, is the Technology Innovation Awards (or TechAwads).
The aim of TechAwards is to recognize Bermudians who provide technology solutions that showcase Bermuda as a location that consistently acts as a launch pad for not just innovation, but for achievement as well. The public is the driving force in this effort nominating candidates for the different categories: 1) Innovation of the Year – International, 2) Innovation of the Year – Local, 3) Most Innovative Youth Program of the Year, and 4) Mobile Application of the Year.
Although to the untrained eye, Bermuda seems to be a tiny dot in the Atlantic, the Island is actually large in impact, as the most recent winner of the International category Trunomi’s Stuart Lacey alluded to when he summed up the sentiments of many of the TechAwards winners: “We are honoured to be recognized for our technology achievements, especially in the very early stages of our company. To be associated with such a prestigious award, one that works to promote Bermuda as a truly global, innovative and sophisticated technology and e-business hub is quite an accomplishment.”
Trunomi provides software for identity verification. Its main products are B2Me solutions which manage verification for customers of financial institutions and are designed for banks to manage compliance, customer onboarding, and customer due diligence. “Bermuda is a fantastic location to innovate and be an entrepreneur,” says Lacey. “Top notch developers, leading edge IT infrastructure, sources of capital, and phenomenal corporate and jurisdictional governance are all well-established and readily available right on the Island.”
In winning this category, Trunomi joins other Bermuda-based FinTech firms, including global encryption leader QuoVadis, provider of online payment solutions First Atlantic Commerce, and software development and consultancy company Nova Limited.
In other 2015 categories, Innovation of the Year - Local Market was captured by the Bermuda Football Association’s mobile app which provides up-to-date information on a myriad of critical operational data to those who love the game. The app has actually captured FIFA’s attention as a viable tool which could be used in other jurisdictions.
Top Mobile Apps have included Hitch - Bermuda’s own mobile taxi reservation app which allows the user to hail a taxi from anywhere on the Island. The app even displays the cost for your trip and tracks the path that your taxi is taking to reach you via a GPS display on your mobile device.
Youth Awards have recognized the STEM program Code 441 and the individual youth accomplishment of 14-year-old Ethan Humphrey whose Saltus Student App tracks schedules, assignments and school projects.
Truly, Bermuda is an ideal context for technology companies. It boasts excellent fiber optic connections, a talented service pool, a robust IT community with extensive training opportunities, sophisticated legal and regulatory framework, and significant access to capital for investment and expansion. It enjoys global branding as a secure, safe and friendly jurisdiction for business.
Bermuda’s truly e-ready.
