The United Kingdom’s technology sector is poised to receive a significant boost due to the largest post-Brexit trade deal, with Asia Pacific investors showing keen interest. London Tech Week started with the arrival of the biggest-ever delegation of Asia Pacific (APAC) investors, just weeks after the UK signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The trade deal, valued at £9 trillion in combined GDP, has piqued the curiosity of APAC investors, who are now flocking to London with £100 billion in investment funds, creating a tech and investment bonanza.
This influx of investment has paved the way for multi-million-pound deals to be struck at the London Eye pitching event, taking place on the first day of London Tech Week. Cutting-edge British tech firms have the opportunity to present their groundbreaking projects to APAC investors, spanning various sectors such as fintech, clean tech, life sciences, and Artificial Intelligence. The aim is to secure cash injections to fuel innovation and drive growth in these industries.
The significance of this trade deal is underlined by the fact that the UK has emerged as a tech superpower, attracting investors from around the globe. APAC investors recognize the UK as the best place in the world to invest, and the delegation’s visit to London Tech Week is a testament to this perception. APAC investors’ combined expertise and financial muscle can propel the UK’s tech sector to new heights, fostering collaboration and unlocking opportunities for growth and expansion.
“Creating closer ties with our friends in the Asia Pacific region is creating enormous opportunities for inward investment, as the UK sits at the cutting edge of innovation in science and technology.” Said Minister for Investment Lord Johnson
On the first day of the event, promising business deals were secured between APAC investors and UK tech firms. The Minister for Investment, Lord Johnson, is set to initiate further investment talks later in the day at the London Eye. Among the notable partnerships, a strategic alliance will be formed between Sunway Group, a leading Southeast Asian conglomerate, and Deeptech Labs, a venture capitalist firm based in Cambridge. This collaboration will accelerate net-zero technologies’ growth and open doors for UK startups to enter the APAC market.
The signing ceremony for this partnership will take place on the banks of the River Thames, followed by additional lucrative deals sealed aboard the London Eye. In a thrilling pitch session, 25 tech firms will have 30 minutes each to showcase their latest innovations to investors, making the most of this unique opportunity. The positive momentum continues as various APAC tech firms announce their plans to relocate their headquarters to the UK, demonstrating their confidence in the country’s credentials as a business hub. Japanese startups Datagusto and Qufooit, along with New Zealand’s booking platform Enrolmy, are among the companies making these strategic moves.
The UK government is also committed to supporting tech exports to the Asia Pacific and facilitating increased investment. As part of the Digital Trade Network (DTN), the newly awarded contract to Oxfordshire-based Intralink will oversee the UK-APAC Tech Growth Programme. This initiative aims to assist UK tech companies and entrepreneurs in trading within the APAC region. Additionally, the DTN will expand its reach to Taiwan and Vietnam, ensuring that UK exporters can access digital tech expertise, market opportunities, and digital trading systems. The UK-APAC Tech Growth Programme is expected to boost UK digital tech exports to APAC markets by fostering private sector investment in UK tech companies and strengthening trading relationships.
The significance of the APAC delegation is further magnified by an Australian tech mission of 600 individuals seeking to maximize the benefits of the UK-Australia free trade agreement that recently emerged.
As London Tech Week unfolds, the convergence of Asia Pacific investors and the UK’s tech sector promises exciting opportunities for growth, collaboration, and innovation. The substantial investment influx and strategic partnerships indicate the UK’s stature as a global tech powerhouse, positioning it at the forefront of technological advancements and economic prosperity in a post-Brexit era.
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