The Government of Western Australia and global expansion specialists Newfound today announced the launch of a virtual trade mission in September 2020 that will provide market entry advice and support for 10 high-growth Western Australian (WA) technology businesses looking to expand into the UK. Entrepreneurial and innovative WA businesses will benefit from the virtual trade mission by engaging with experts, investors and fellow tech founders on the UK tech ecosystem and market opportunities.
The trade mission will run in early September offering 10 WA firms the opportunity to participate in London Tech Week (LTW). LTW is the largest technology festival in Europe, in 2019 it attracted over 58,000 attendees from 95 countries across 300 events. This year, over 95 per cent of the festival will feature virtual events.
With the global pandemic preventing travel for face-to-face meetings, the Government of Western Australia is exploring alternative approaches to open export markets and scale up opportunities for WA technology firms that show international promise and potential. The partnership with Newfound Global to lead a virtual trade mission to the UK will see ten WA companies selected to participate in a multi-day programme meeting potential clients and investors, as well as engage in interactive sessions to ready their firms to successfully expand into the dynamic British technology market.
The Market Mission format enables companies to engage with their peers from across Western Australia whilst gaining insight from world class entrepreneurs and Venture Capitalists through interactive workshops, including advice from companies that have already successfully made the leap into the UK.
The programme will conclude with a Pitch Day hosted by leading corporate innovation specialists CO:CUBED. Participating companies will have the opportunity to launch their companies into the heart of the UK tech ecosystem which contributed £149 billion to the British economy (Tech Nation, 2020). Despite the pandemic, UK tech firms raised over £4.2 billion in the five months to the end of May 2020 (Digital Economy Council, 2020) and with nearly three million tech employees across the country, the UK remains an attractive destination for companies looking to expand from their domestic market.
Western Australia’s representative in the UK, Agent General Mike Deeks CSC said: “Western Australia has a long history of driving world class exports and with the launch of the Market Mission we are delighted to be supporting the next generation of Australian innovation and growth.”
“This virtual trade mission will demonstrate that the UK tech market remains a driver of economic growth and investment despite the current challenges. Newfound’s innovative digital platform and programme content will ensure that companies who are ready to expand internationally do not need to wait until they can get on a flight to gain market traction in the UK,” said Peter Gillingwater CEO of Newfound. “The Government of Western Australia is really setting the example for governments around the world demonstrating that there are ways to continue supporting high growth technology companies in their ambitions to scale internationally and drive economic growth.”