More than 60 innovative Australian tech scale-ups have landed in the UK to join London Tech Week, Europe’s biggest tech festival which runs from June 13-17. Alongside the event, the UK government has created a bespoke program for Australian tech companies. They will participate in exclusive events, consultations and meetings to accelerate their expansion in the UK. This is the first fitness program the UK has run from Australia since 2019.
Now in its ninth year, London Tech Week welcomes 20,000 attendees and over 300 speakers. This year, the festival focuses on exploring the next generation of technology innovation, impactful innovation at scale, and building a thriving technology industry. As part of their exclusive programme, Australian delegates will have intimate sessions on raising capital in the UK, settling in the UK and growing technology in the UK. They will hear directly from Tech Nation, Oury Clark, Telstra, Mishchon de Raya and many more.
The UK tech ecosystem is an ideal location for international investment, with the industry growing at a faster rate than the UK economy. UK tech captured more than a third of total £89.5bn investment in Europe in 2021, including £29.4bn raised by UK startups and scale-ups. Although London remains an epicenter of tech growth, the regions are also becoming a hotbed of investment. With more money in UK tech than ever, nearly £9bn of all venture capital invested has gone into startups and scale-ups outside of London and the South East. Regions are now home to nine of the 29 unicorns formed in 2021.
The Australian cohort for London Tech Week 2022 has been selected from one of the following tech sub-sectors:
- Future Technology – including artificial intelligence, big data and cybersecurity.
- educational technology
- Digital health – including medical technologies and medical devices.
This UK Government trade mission is conducted in partnership with Australian state governments:
- world victoria
- NSW investment
- Trade and Investment Queensland
- South Australian Government
Louise Cantillon, British Consul General and Assistant Trade Commissioner for Asia-Pacific (Australia and New Zealand), said:
Having signed the UK-Australia Free Trade Agreement earlier this year, it is fantastic to see such a large and dynamic cohort of Australian tech scale-ups joining our London Tech Week mission. This is our first fitness program in the UK since Australia since 2019. I am very happy to see the successes this week.
Britain’s tech sector was valued at $1 trillion (£764 billion) this year. According to new research from Tech Nation, the UK is fourth in the world for tech investment at £32.6bn, having had a record year in 2021. Last year we saw more capital private enter UK technology than any other European country – £27.4 billion.
This week the UK government released a new digital strategy. A key part of this policy demonstrates the UK’s commitment to improving the technology ecosystem to ensure the UK remains one of the best places in the world to start and run a digital technology business. This includes improving access to finance, another step towards making the UK the best place to list an ambitious tech company.
Learning Vault CEO Nicholas Robert said:
As an Australian digital education company specializing in digital accreditation and certification strategies, the UK is a synergistic market for us. The education ecosystems are quite similar in both countries, and as we have been able to make a substantial impact through managing change in the Australian education space, it is exciting to take these learnings and adopt similar strategies in the UK. United to make a meaningful impact. in the education landscape from a certification perspective.
Being able to fuel lifelong learning by having a digital record of all achievement is something we at Learning Vault believe everyone should have access to – we are delighted to be part of London Tech Week to bring this technology to Britain.
CEO and Founder of Cape, Ryan Pritchard said:
Cape is proud to join London Trade Week, at one of the world’s leading Fintech hubs. We have strong roots in the UK, with their founding team leading the product and engineering of London-based SME digital challengers: Capital On Tap, Cashplus and Funding Circle.
We have been a first remote team since our inception during the pandemic and have now moved to two hubs (Australia/UK), with 26 full-time staff. Our intention is to become a beacon for talented UK-based engineers who have experience building similar solutions and want to deploy their knowledge in Australia, a country known for adopting early technology solutions.
Having recently successfully launched, Cape has first-mover advantage in APAC as we aim to emulate the success of our European peers in Pleo, Payhawk & Spendesk. Given the current economic backdrop, now could not be a better time to discuss opportunities with UK-based VCs to geographically diversify their portfolio as we launch our seed fundraising.
About the UK Department for International Trade:
The UK Department for International Trade (DIT):
- helps companies to export
- stimulates inward and outward investment
- negotiates market access and trade agreements
- champions of free trade
Learn more about DIT.