Coming out of the very first Grand Bahama Technology Summit, the Technology Hub Steering Committee was established in December 2017. Comprising of industry experts and professionals based in Grand Bahama, New Providence as well as internationally, this committee is focused on the growth the economy of Grand Bahama, and by extension, the entire Bahamas.The team, led by its Chairman, Dr. Donovan Moxey, has been functioning efficiently, having held quarterly working meetings, consultation with the government, made recommendations on legislative policy, participating in international trade missions, as well as the planning and execution of a second Grand Bahama Technology Summit.
The Grand Bahama Technology Hub Steering Committee is not only serving to assist the government in framing public policy, but also heavily focuses on human resources and infrastructure.
As we anticipate increasing career opportunities for Grand Bahamians, the government will be working to prepare our workforce to capitalize on these opportunities.
This Steering Committee, in conjunction with the government, is focused on encouraging Bahamian and international entrepreneurs as well as existing international companies
To embrace the Bahamas, specifically Grand Bahama as the ideal place to start and/or grow a technology business.
The committee has made several recommendations which were notably accepted by the government and successful.
1. The hosting of a major International Blockchain and Crypto Currency Conference, which is being in Grand Bahama to establish The Bahamas as a global player in introducing venture investors to Seed Stage and Early Stage companies that are focused on Block-chain, Cryptocurrency and FinTech solutions.
This venture conference was designed to drive activity to Grand Bahama by attracting investors, entrepreneurs, and service providers from all over the world who are focused on making investments, and building business relationships with Blockchain technology companies. Additionally, BBCC provided The Bahamas with the opportunity to present itself to the world as a jurisdiction which is favorable to Blockchain, cryptocurrency, ICOs, and FinTech companies that incorporate and are domiciled in The Bahamas. Through BBCC, the government also had an opportunity to present Freeport Grand Bahama as the ideal location to establish offices and global headquarters for these new technology companies. Our ultimate goal is to attract 500 blockchain, cryto-currency and fintech companies to Grand Bahama.
2. The establishment of the BH-1B Visa Program
The program allows companies who are licensed under the Commercial Enterprise Act to bring with them technically qualified persons to work in the Bahamas under the stipulation that these persons will transfer skills to Bahamians within the designated period of their stay which can be granted for three years and may be renewed for a further period not exceeding three years.
In addition to favorable immigration policies, we are seeking to make Grand Bahama even more attractive to investors by collaborating with local partners such as the Grand Bahama Power Company who has established a special tech hub rate to serve customers with tech companies. This unique initiative applies to both domestic and international tech business owners.