ASIA Pacific investors are said to be set to inject millions of pounds into the UK tech industry.
Investment opportunities worth £100bn are being presented at London Tech Week, the country’s largest such event, which kicked off today (June 12).
The UK recently signed the biggest post-Brexit trade deal with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a £9tn combined GDP trade bloc in the Indo-Pacific.
British firms will pitch for multi-million-pound deals, with the group of investors offering cash injections into innovative projects across sectors including fintech, AI and life science.
Wayne Johnson, CEO of Encompass Corporation, said the focus on the tech industry was “encouraging”. “Global collaboration will play a key role in supporting both business and economic growth in the UK,” he said. “Tangible investment is, and will continue to be, crucial to turbocharging the development of innovative solutions.”
Johnson says the fintech sector has seen increased investment that will allow the sector to keep growing, “acting as a key player in supporting wider progress”.
Britain leads the development of processes such as Know Your Customer automation, vital to the fight against financial crime. “The UK has huge potential, and it’s positive to see countries across the globe recognising this.”
Lord Dominic Johnson, the UK Minister for Investment, said the event presented “a huge opportunity to show that we are a science and technology superpower”.
Things are taking off, he believes. “Just weeks after successfully negotiating our biggest post-Brexit trade deal with the CPTPP, we are seeing huge interest from investors in the region.” Millions of pounds were being invested into British tech, he said.
