Enterprise program to assist companies achieve a foothold within the UK

The Australian Commerce and Funding Fee (Austrade), the Australian Authorities’s commerce and funding promotion company, has introduced the launch of the London Touchdown Pad, a six-week digital enterprise program that can coach Australian tech companies methods to efficiently export to the UK.

The free program focuses on constructing a go-to-market technique, from understanding the enterprise and alternative panorama, figuring out and securing preliminary prospects, gross sales and advertising to assist taking part companies scale and pitching to native VCs.

UK market specialists throughout fundraising, regulation, gross sales and advertising will run stay periods with Q&A to assist founders navigate the UK’s profitable US$1.1 trillion tech market. Every enterprise may also get two hours of particular person mentoring help from Austrade’s Entrepreneur-in-Residence.

“The UK is the most important tech market in Europe – so it’s massively aggressive and quick paced,” mentioned Lucy Cassidy, Austrade’s London Touchdown Pad supervisor. “We’re going to help every enterprise to essentially hone in on their USP and what is going to set them aside right here. Plus, it’s costly to get it improper, so we’ll be working with you to keep away from these pitfalls and tighten up your market entry plan.”

In Q1 2024, the UK tech sector reached a mixed market valuation of US$1.1 trillion, making it the most important tech ecosystem in Europe and the third-largest VC market globally, fuelled by the start-up and scale-up ecosystem. In 2023, UK startups raised US$21.3 billion in VC funding, the third highest whole on document. The UK has produced 171 unicorns, with 144 within the final 10 years, and 63 prior to now three years.

The UK is on the centre of worldwide innovation in frontier applied sciences like local weather tech, fintech, healthcare and mobility, attracted by the UK Authorities’s ongoing concentrate on AI security and regulation, internet zero targets and funding into the Nationwide Well being Service (NHS).

As well as, the UK Authorities has additionally strongly invested in constructing regional progress hubs, corresponding to Birmingham Data Quarter Core, Leeds Digital and Scotland’s Silicon Glen.

In the meantime, current information suggests Australian companies are exporting to the UK than ever, supported by elevated expertise mobility, aligned information regulation and mutual recognition of {qualifications} beneath the Australia-UK Free Commerce Settlement (A-UKFTA). In truth, because the A-UKFTA entered into drive in Might 2023, Australian Overseas Direct Funding into the UK has elevated by 7.3 per cent yearly ($210 billion).

“Free circulation of knowledge and powerful Mental property safety beneath the A-UKFTA have been key advantages for Australian tech corporations increasing to the UK,” mentioned Annika Barton, Australian Commerce and Funding Commissioner to the UK & Eire. “It’s by no means been simpler to entry new UK prospects and work with UK corporations.”