Source: Media Outreach
The inaugural Tech Nation International Growth programme is part of the UK Government Digital Trade Network
12 UK companies forms the first cohort to set up shop in Singapore
SINGAPORE – Media OutReach – 5 April 2021 – 12 UK tech scale-ups formally undertake the Tech Nation International Growth Programme in Singapore today. The programme, led by Tech Nation, the UK tech scale-up experts, is part of the Digital Trade Network, a newly commissioned initiative by the UK Government, to assist innovative British tech companies access trade and investment opportunities and forge new international partnerships across Asia Pacific, including Singapore.
This initiative comes as the UK looks to deepen its relationship following the UK-Singapore free trade deal signed last year, which has opened more opportunities to boost trade and investment between the two countries, the UK has also committed to scoping a UK-Singapore Digital Economy Agreement (DEA), with the aim of launching negotiations in 2021.
Tech Nation is working in collaboration with Plug and Play, who will create an in-market entrepreneur network in Singapore to help these scale-ups make the leap, as well as the UK Department for International Trade in Singapore to deliver this international programme.
The first cohort of companies from the UK looking to explore new opportunities here includes:
Please refer to Annex A for company profiles.
Talking about the launch of this programme, Gerard Grech, CEO of Tech Nation said: “Singapore 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 Singapore, as part of the Digital Trade Network, brings to both countries.
As found in Tech Nation’s ‘Unlocking Global Tech’ report, for UK companies, Singapore was one of the fastest rising global opportunities for trade, climbing 5 places in the rankings for global tech opportunity between 2019 and 2020.
These 12 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 seven years. The International Growth Programme in Singapore is just a first step for Tech Nation as we help more UK digital tech companies identify opportunities to enter and grow into Southeast Asia.
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 Singapore is key to the next stage of growth for UK tech.”
Sam Myers, Her Majesty’s Trade Commissioner for Asia Pacific at the UK Government Department for International Trade said: “The launch of the first Tech Nation International Growth Programme for UK tech scale-ups in Asia Pacific highlights the importance of Singapore and the wider region for the UK’s future. This is yet another way Singapore and the UK can continue to collaborate in the digital economy. Collective action with our partners will be vitally important to address global challenges and harness the benefits of the digital age.”
This week also sees the selection of the first cohorts of the Digital Trade Network’s International Growth Programme in Australia, Japan and South Korea. Due to overwhelming interest from UK tech companies in Asia Pacific, Tech Nation is also providing 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 this region.
Tech Nation will continue to work closely with the UK government to help more UK tech companies enter new markets like Singapore, while also providing links for Singapore’s businesses into tech clusters across the UK.
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About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 30 locations with over 450 official corporate partners. Companies in our community have raised over $97 billion in funding, with successful portfolio exits including Danger, Dropbox, N26, Rappi and PayPal. For more information, visit https://www.plugandplaytechcenter.com/asia-pacific/
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