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Premier: FinTech Education Initiative Update - Bernews

Premier David Burt provided an update on the FinTech Business Unit’s Education initiative in the House of Assembly today [June 7], saying that hundreds of people have, or are, taking part in the offering.

“Technology companies are domiciling in jurisdictions that have a high incidence of talent with technical skills,” the Premier said. “Therefore, it follows that in order to prepare Bermudians for the jobs that are coming via FinTech, we have to train them.”

The Premier said that Phase 1 of the FinTech Business Unit’s Education and Training Initiative was launched in January 2019 and the “response was tremendous and the training proved to be a resounding success,” with the Premier saying that over 300 persons registered their interest in taking the training and the cost of the 6-week training opportunities was $80,000.

Premier Burt said that 130 persons completed the local courses, 80 people participated in the Comparing Blockchain Platforms & Creating Fun Tokens courses, 75 persons participated in the 2-Day Business Boot Camps and 25 in the 1-Day Technical Boot Camp, 15 teachers participated in the Google in the Classroom and iPad Apps for P1 – P6 courses, and 45 persons participated in the 4 Compliance Lunch and Learn Sessions and many are now enrolling in the KixKo courses.

“Phase 2 promises to be exciting for Bermuda with the launch of the FinTech School’s Online Programme, which will allow all interested persons access to all their courses for free until November 17th 2019. Currently we have 167 learners enrolled in 401 courses,” the Premier said.

“Additionally, a Compliance course will be offered by OMEGA One, the first company to obtain a Digital Asset Business Act License in Bermuda. Omega One is keen to contribute to the community and in doing so will offer a 6-session course over six weeks for all interested persons commencing next Tuesday 11th June.

“This government is doing everything possible to produce a talent pool of Bermudians who are trained and ready to assume jobs in FinTech,” the Premier added.

“We must now continue the work of attracting companies to Bermuda and converting the 82 companies currently incorporated, into businesses with a physical presence; so that Bermudians will have jobs in which they can succeed, thereby improving their quality of life and that of their families.”

The Premier’s full statement follows below:

Mr. Speaker, today I will provide this Honourable House with an update on the FinTech Business Unit’s Education initiative.

Mr. Speaker, technology companies are domiciling in jurisdictions that have a high incidence of talent with technical skills. In recent months, Google and Amazon selected New York and Washington DC as the locations of their corporate headquarters because out of all US cities, New York and Washington had the highest incidence of people with technical skills. Therefore, it follows that in order to prepare Bermudians for the jobs that are coming via FinTech, we have to train them.

Mr. Speaker, phase 1 of the FinTech Business Unit’s Education and Training Initiative was launched in January 2019. We are pleased to inform you that the response was tremendous and the training proved to be a resounding success noting the following:

Over 300 persons registered their interest in taking the trainingThe cost of the 6-week training opportunities was $80,000130 persons completed the local courses including Intro to FinTech, Intro to Blockchain, Basics of Blockchain and Beyond the Basics.The instructors were Bermudians and the entities running the training were Gibraltar & Bermuda Blockchain and Crypto Association;80 people participated in the Comparing Blockchain Platforms & Creating Fun Tokens courses hosted by the Bermuda Blockchain and Crypto Association;75 persons participated in the 2-Day Business Boot Camps and 25 in the 1-Day Technical Boot Camp hosted by Connectech15 teachers participated in the Google in the Classroom and iPad Apps for P1 – P6 courses.45 persons participated in the 4 Compliance Lunch and Learn Sessions and many are now enrolling in the KixKo courses.Many of these individuals took all courses offered over the 6-week period

Mr. Speaker, phase 2 promises to be exciting for Bermuda with the launch of the FinTech School’s Online Programme, which will allow all interested persons access to all their courses for FREE until November 17th 2019. Currently we have 167 learners enrolled in 401 courses.

During Phase Two, local courses will continue, including Introduction to Blockchain and FinTech, and Beyond the Basics of Blockchain.

Additionally, a Compliance course will be offered by OMEGA One, the first company to obtain a Digital Asset Business Act License in Bermuda. Omega One is keen to contribute to the community and in doing so will offer a 6-session course over six weeks for all interested persons commencing next Tuesday 11th June.

Mr. Speaker, this government is doing everything possible to produce a talent pool of Bermudians who are trained and ready to assume jobs in FinTech. We must now continue the work of attracting companies to Bermuda and converting the 82 companies currently incorporated, into businesses with a physical presence; so that Bermudians will have jobs in which they can succeed, thereby improving their quality of life and that of their families.

Mr. Speaker, we will continue the FinTech education initiative as the overwhelming response validates the decision to invest in educating our people. I am happy to report that the participants cover the entirety of Bermuda’s cultural diversity and residents are obviously hungry for this education, this training and the opportunities that FinTech offers.

Mr. Speaker, the message is clear that Bermudians want to work, they want to learn, and they are ready to make their contribution to the FinTech revolution that is happening right before our eyes. Bermuda is fast becoming a FinTech/Startup Island and we have a workforce that is qualified, innovative, tech savvy and ready to create the new technologies that are yet to come. To learn more about the education and training opportunities on offer and to register persons need only visit the Fintech.bm website.

Thank you, Mr. Speaker!

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