Premier Burt Promotes Bermuda In New York
On Wednesday [Sept 20], Premier David Burt hosted a luncheon at the Union League Club in New York City. He was joined by Minister of Tourism and Economic Development, Jamahl Simmons, the Ministry’s Permanent Secretary Randy Rochester and Sean Moran, Head of Business Development at the Bermuda Business Development Agency.
The luncheon was attended by 24 guests including investment professionals, wealth managers, and venture capitalists with varied interests from hospitality, technology, agriculture, energy and transportation.
Katten Muchin Rosenman LLP
While in New York, further meetings were held with leading law firm Katten Muchin Rosenman, LLP, Rosecliff Ventures, a venture capital firm with a focus on technology, and many investor representatives including, among others, the Wafra Investment Advisory Group, Ridgewood Investment and Astor Investment Management.
Premier Burt with Mr. Mike Murphy of Rosecliff Ventures
Premier Burt said, “This week’s trip to New York provided the government with the opportunity to create new relationships and also reconnect with our established Bermuda business advocates. We made it clear that Bermuda is open for business and investment.”
“It is important that we consistently maintain our international profile to ensure economic growth. In order to advance Bermuda, we must expand interest in Bermuda.”
“The government’s international communications and meetings are all undertaken with the aim to further advance the objectives of our mandate – to deliver growth and diversify our economy, which will bring new jobs and new industries to Bermuda.”
“While the conversations covered much ground, we specifically focused on advancing our agenda items, such as the creation of the tech hub at Southside. We also used this opportunity to engage with venture capitalists in an effort to obtaining capital for start-ups based in Bermuda and explored investment in many other areas. We will continue to advocate for Bermuda internationally with the goal of fulfilling our objectives to grow the economy.”
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Photo op!
Bingo!!!!!
IT’S NOT IMPOSSIBLE! JUST REMAIN TRANSPARENT AND KEEP BERMUDA INFORMED.
Premier, you may have wonderful dreams about Bermuda, dreams that are dear to you, but as harsh as it may sound, your potential investors do not care. They want to get a high return for their investment.
One thing they will look at when looking at Bermuda and potential business is you. They will look at you and the Government as a representative of Bermudian business. You need to be approachable in your demeanor, it cannot be seen as an act. You preached inclusiveness, and delivered battle line. Part of venture capital financing involves having the investor as part owner of entities in Bermuda. As such, they may have suggestions for you, and they need to feel that you will listen.
When the venture capitalist looks at you and Bermuda, they are looking to see the investment potential. If they see that they will make money from investing in Bermudian business, they will. If they cannot see the potential, you will be rejected. You have to make them see the potential.
A venture capitalist is thinking of one thing and one thing only, and that is the bottom line. Your job is to convince the investor that you and your Party are a good investment with a reasonable amount of risk. If you can do this properly, you will likely land the venture capital that we need. The key is to look at proposals from the eyes of your potential investor.
If they see that you cannot break bread with a tiny opposition, that there is a growing trust deficit in you after only nine weeks, that your word isn’t your bond, stay home. You’re finished before you start.
You cannot be as divisive as you have been, showing obvious duplicity, and only being able to crow on and on about July 18.
No one other than your base care about this.
Do you think investors rate this highly? First off, they aren’t going to be impressed that your own Party, was party to the majority of our debt.
You need to present our business, to the venture capitalist as a money maker. After all, the venture capitalist is looking to make money off of their investment, not help others.
“We also used this opportunity to engage with venture capitalists in an effort to obtaining capital for start-ups based in Bermuda and explored investment in many other areas. We will continue to advocate for Bermuda internationally with the goal of fulfilling our objectives to grow the economy.”
Mr Premier, who, but you, is buying that statement. You need to get things right with the people, all the people of Bermuda, all sectors of Bermuda, before you Pond Hop.
Please PLP don’t get involved in IB. IB has ABIC, ABIR, BLTIR, BDEC and others in the private sector to promote Bermuda. The worst thing the PLP can do is think they can do better. Tourism is a good example of getting rid of Government interference (PLP/UBP and OBA/UBP) by creating the BTA. Concentrate on local matters which is why you got elected.
As long as Government Ministers listen to and act on those who are ‘in the know’, it will be a step forward.
Premier, you may have wonderful dreams about Bermuda, dreams that are dear to you, but as harsh as it may sound, your potential investors do not care. They want to get a high return for their investment.
One thing they will look at when looking at your business is you. They will only have you to look to as a representative of the business. You need to be approachable in your demeanor, it cannot be seen as an act. Part of venture capital financing involves having the investor as part owner of entities in Bermuda. As such, they may have suggestions for you, and they need to feel that you will listen.
When the venture capitalist looks at you and Bermuda, they are looking to see the investment potential. If they see that they will make money from investing in Bermudian business, they will. If they cannot see the potential, you will be rejected. You have to make them see the potential.
A venture capitalist is thinking of one thing and one thing only, and that is the bottom line. Your job is to convince the investor that you and your Party are a good investment with a reasonable amount of risk. If you can do this properly, you will likely land the venture capital that we need. The key is to look at proposals from the eyes of your potential investor.
If they see that you cannot break bread with a tiny opposition, that there is a growing trust deficit in you after only nine weeks, that your word isn’t your bond, stay home. You’re finished before you start.
You cannot be as divisive as you have been, showing obvious duplicity, and only being able to crow on and on about July 18.
No one other than you’re own members care about this.
Do you think investors rate this highly? First off, they aren’t going to be impressed that your own Party, was party to the majority of our debt.
You need to present our business, to the venture capitalist as a money maker. After all, the venture capitalist is looking to make money off of their investment, not help others.