London Tech Week: London June 2020
Responding to COVID-19 and trade missions
Global Victoria is monitoring the current and evolving situation relating to the COVID-19 pandemic, and any impact on this proposed Victorian Government trade mission.
Global Victoria is committed to providing information and assistance throughout this period. We will continue to monitor the situation and provide timely information as it comes to hand.
The Victorian Government, through Global Victoria, invites scaleup Victorian technology companies to join a Technology Trade Mission to London Tech Week (LTW) 2020, United Kingdom.
Why the United Kingdom?
- The UK is Victoria’s 12th largest two-way merchandise trading partner with total two-way merchandise trade in 2018-19 valued at A$2.6 billion. The UK is also Victoria’s 16th most valuable export market.
- Services are an important element of Victoria’s trade relationship with the UK, particularly for the visitor economy and Victorian exporters of professional services, including financial services.
- Brexit presents an important opportunity for Australia to strengthen its relationship with the UK, including through a potential Australia-UK free trade agreement (FTA).
- The UK is a critical hub in the global tech ecosystem. Tech investment in the UK was the highest in Europe in 2018 (£6.3 billion), and scaleup investment also hit a record high, increasing by an astonishing 61% year-on-year.
- Total venture capital investment in UK tech in 2018 topped £6bn, more than any other European country.
- 35% of Europe and Israel’s 169 unicorn tech companies have been created in the UK.
- The UK leads the rest of the world in fintech – investment in high-growth fintech firms achieves £4.5bn between 2015 and 2018
Source: Tech Nation Report - https://technation.io/report2019/#key-statistics
London Tech Week is Europe’s largest festival of live events taking place across London. In 2019 LTW attracted over 58,000 attendees from 95 countries, hosting 300 events with a social media reach of 300 million people.
The trade mission leverages LTW as a platform to create a program of targeted meetings, networking events and site visits maximising your business opportunities.
What types of businesses should attend?
The trade mission program will be themed around three major streams as follows:
- Financial Services – including artificial intelligence, cyber security, big data, regtech and fintech
- Smart Cities – including proptech, construction tech, retail tech and transport tech
- Digital Health – including medtech, and sports tech where it relates to health
The trade mission is targeting a maximum of 15 Victorian technology companies to participate in a business matching program of meetings facilitated by a selected service provider.
Applications are sought from Victorian technology companies that have clear goals for doing business in the UK. While all applications will be considered, we will prioritise scaleup companies:
- who have been operating for at least 3 years
- who haven’t previously participated in this LTW business matching program
- whose business is growing at 20 percent or more in either employment or turnover year on year for at least two years
- who employ at least 10 full time employees (FTEs)
- who fit within the three streams identified above.
Companies who have previously participated in this LTW program are ineligible for the business matching service, however can apply to join the trade mission as networkers in the broader program of activities.
Why you should attend
The mission will enable delegates to build market insights, explore market opportunities, expand their networks and identify potential partners and clients.
What are the inclusions and exclusions?
- Pre-mission briefing held in Melbourne prior to the commencement of the mission
- Promotion in the Victorian Government mission’s marketing materials and through social media channels.
On the mission
- On-ground assistance from the Victorian Government
- In market briefing and welcome
- Three business matching meetings for the 15 selected Victorian tech companies
- Business networking events hosted by the Victorian Government with key industry players
- Regional site visit(s) - TBC
- Post-mission briefing with delegates
- Assistance with follow-ups
- Ongoing contact with Victorian Government Trade and Investment (VGTI) office in London
Global Victoria will not pay for airfares, accommodation, ground transport or meals outside of official activities.