To grow our economy the PLP will develop a technology incubator at Southside. This will allow start-ups in the technology field that require little more than a computer and an Internet connection to use our regulatory environment while developing their new products and services in Bermuda. The vision is to transform Southside into a technology-based community with living facilities as well as an active office community.
This incubator would be a centre of excellence, and we would create a village in which people can participate together as if they are in a development centre, and share ideas in an open-source environment.
Additionally, we would attempt to attract a second round of funding for operations that set up in Bermuda by offering a consistent course for well-supported Bermuda-based angel investors to grow and develop out of Bermuda.
A successful technology incubator could lead to other well-established global technology companies setting up a physical presence here.
In 2010, Bermuda First recommended that Bermuda become a global centre for intellectual property. The PLP will set Bermuda on a path to becoming a domicile for managing international treaties in intellectual property and set the standards in law for the proper financial management of intellectual properties. The PLP would actively seek out stakeholder input to build a regulatory environment that sets the standards that these critical communities need. The PLP’s regulatory implementation and management of these programmes would take place in Bermuda with a well-defined Mind Management and Control policy where the intellectual property would create both jobs and revenue for the Bermuda Government.
Furthermore, the PLP would create a Digital Intellectual Property Register. This would require a copy of the register to be digitally signed and the creation, or administration of the creation, to be physically domiciled in Bermuda in order for it to be considered Bermudian. The Bermuda Government would actively look to create and sign member states to this Digital Intellectual Property Register.
Bermuda must prepare for new ways to operate in a world where advanced technologies will be driving the global economy. Although Bermuda is not large enough to compete with established technology centres, we can participate in the funding and administration of these products, become a leader as a world-class digital domicile, and create jobs.