Eleven red-hot UK tech scale ups kick start the Tech Nation International Growth Programme in the land Down Under, stimulating jobs, new ideas, partnerships, and investment in Australian technology.
The programme, led by UK tech scale up experts Tech Nation, is part of the Digital Trade Network, a UK Government initiative to help innovative companies’ access trade and investments between the UK and Asia Pacific and forge new partnerships.
This comes as the UK and Australia recently concluded the fourth round of negotiations for a comprehensive Free Trade Agreement, which will include cutting-edge provisions to reduce barriers to digital trade, and help connect businesses and consumers.
Alongside this, the UK is also deepening its partnerships in the Asia Pacific region through its application to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), of which Australia is a key member.
Australia has a solid track record of innovation and digital trade partnerships such as the recent Australia-Singapore Digital Economy Agreement (DEA).
And, the UK and Australia have already begun building closer links between industries through existing agreements such as the FinTech Bridge and the recently announced Space Bridge, will help to increase knowledge exchange and investment across the two countries’ space sectors.
Tech Nation works with Asia Market Entry and the UK Department for International Trade in Australia to deliver this International Growth Programme for the 11 UK tech scale ups.
The first cohort of 11 companies from the UK looking to grow into Australia includes,
Talking about the launch of the Tech Nation International Growth Programme, Gerard Grech, CEO of Tech Nation said, “Australia is an extremely important partner for the UK tech sector, and a country that shares our success in this field.”
“We can’t wait to see the success that our International Growth Programme in Australia, as part of the Digital Trade Network, brings to both countries.”
“These digital tech companies have been selected from Tech Nation’s network of 800 UK tech scale ups who have been through our growth programmes over the past 7 years.”
The International Growth Programme in Australia is just a first step in this exciting market as we help more UK digital tech companies identify opportunities to enter and grow.
“We undertook an informal survey with Tech Nation Alumni in the UK and it showed that many of them are looking to expand to Australia, as they are to Europe. It shows there is real appetite for growth and investment by the UK tech sector into Australia.”
“The UK’s tech sector, driven by fast-growing tech scale ups, is already growing six times faster than the rest of the UK economy combined – the UK tech start up and scale up ecosystem is valued at almost $600bn and the UK has produced 80 unicorns.”
“Thinking globally is now vital for UK tech and Tech Nation. 80% of our latest Upscale cohort cited international expansion as their number one challenge, so this International Programme in Australia is key to the next stage of UK tech growth.”
Michael Ward, Deputy Trade Commissioner for Australia & New Zealand at the UK’s Department for International Trade (DIT) said,
“The Digital Trade Network will increase digital investment opportunities, connecting UK tech leaders, founders, and innovators with Australian buyers and investors.”
“This unlocks new partnerships in areas like fintech, cyber and cleantech. This comes when the UK is strengthening its partnership with Australia and when an international approach to digital innovation will help to build back better from Covid-19.”
“The International Growth Programme is an exciting new initiative which the Department for International Trade is pleased to support.”
This week also sees the selection of the first cohorts of Tech Nation’s International Growth Programme in Japan, Singapore, and South Korea.
And due to much interest from UK tech companies, Tech Nation is also running a series of webinars, bootcamps, and interactive workshops over the next few months to support UK tech scale ups looking to grow their businesses into Australia and more globally.
Tech Nation will continue to work closely with the UK government to help more UK tech companies enter into new markets like Australia, while also providing links and market entry for Australian businesses into tech clusters across the UK.
The UK tech scale ups in first cohort of Tech Nation International Growth Programme in Australia
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Gerard Grech, is CEO of Tech Nation, UK’s tech scale up experts. The growth platform is for tech companies and founders in the UK.