London Tech Week has become a focal point for the convergence of global tech talent, and this year’s event promises to be the most significant yet. A record-breaking delegation from the Asia Pacific (APAC) region, representing funds exceeding £100 billion, will converge in London to explore investment opportunities with British tech companies. With the recent conclusion of negotiations with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade bloc comprising a £9 trillion combined GDP, the stage is set for mutually beneficial collaborations between the UK and APAC investors.
Expanding Investment Opportunities
As London Tech Week commences, numerous business deals have already been secured between APAC investors & British tech firms. The Minister for Investment, Lord Johnson, will spearhead further investment talks at the iconic London Eye later today. One of the notable partnerships being announced is between Malaysia’s Sunway Group, one of Southeast Asia’s leading conglomerates, and Cambridge-based venture capitalist firm Deeptech Labs.
This strategic partnership seeks to expedite the expansion of net zero technologies and forge fresh opportunities for UK startups in the APAC region. The signing ceremony will take place on the banks of the River Thames, followed by additional deals being struck in the capsules of the London Eye, where 25 tech firms will have 30(Thirty) minutes each to pitch their latest innovations.
Unleashing Innovation Potential
Minister for Investment Lord Johnson expressed the significance of London Tech Week in showcasing the UK’s standing as a science and technology superpower. The successful conclusion of the post-Brexit trade deal with the CPTPP has piqued the interest of investors in the APAC region, resulting in substantial investments into world-leading British tech.
The forging of closer ties with APAC nations has created tremendous opportunities for inward investment, with the UK positioned at the forefront of innovation in science and technology. The decision of various APAC tech firms, including Japanese startups Datagusto and Qufooit, as well as New Zealand’s booking platform Enrolmy, to relocate their headquarters to the UK further validates the country’s credentials as a prime business destination.
Government Support and Collaboration
To facilitate tech exports to the APAC region and stimulate investment, the UK government has announced additional support measures. Intralink, a company based in Oxfordshire, has secured a contract to oversee the newly established UK-APAC Tech Growth Programme as part of the Digital Trade Network (DTN).
This initiative aims to assist UK tech companies and entrepreneurs in trading with APAC nations. Moreover, the DTN will expand its reach to Taiwan and Vietnam, ensuring that UK exporters can access digital tech expertise, market access, and digital trading systems. This commitment demonstrates the government’s determination to foster seamless collaboration and unlock the potential of the UK’s burgeoning startup community.
Deepening Relationships with the Asia Pacific
The record-breaking APAC delegation at this year’s London Tech Week underscores the UK’s strengthening relationship with countries across the CPTPP. Delegations of startups from Japan and Vietnam, facilitated by their respective governments, highlight the UK’s status as the tech powerhouse of the CPTPP. His Majesty’s Trade Commissioner for Asia Pacific, Natalie Black, emphasizes the potential for the UK’s trillion-dollar tech sector to thrive in the region through the expanded Digital Trade Network.
Maximizing Opportunities
London Tech Week will also host an Australian tech mission, leveraging the benefits of the recently implemented UK-Australia free trade agreement. With over 600 participants from the APAC region, this event offers a platform for the UK’s tech sector to attract international attention and investments.
Source: Gov[Dot]UK
