The UK is the sixth largest economy in the world, with a GDP of US$2.83 trillion (S$3.85 trillion) in 2018. Key industries include financial services, aerospace and pharmaceutical. It was ranked ninth among 190 economies in the ease of doing business by the World Bank in 2018.
The UK’s tech startup scene is rapidly growing. In 2018, 11,864 software development and programming businesses were incorporated, up 14% from 2017. The UK attracted the largest amount of foreign funding for tech startups in Europe in the first seven months of 2019, at US$3.7 billion (S$5 billion). The vibrant tech scene in the UK has resulted in the birth of 72 unicorns, ranking it first in Europe for number of unicorns generated, and third in the world for producing successful tech companies – only behind the US and China.
London is a cosmopolitan city full of business opportunities. The metropolis generates 22% of UK’s GDP – or roughly US$800 billion (S$1.1 trillion) – despite accounting for only 12.5% of the UK population. Globally, the city is also home to one of the most vibrant startup ecosystems – London was ranked the third-best global startup ecosystem in Startup Genome’s Global Startup Ecosystem Report 2019. It is also the second most connected ecosystem in the world, behind Silicon Valley. Within the ecosystem, there are currently 200 incubators and 160 accelerators that are actively supporting 3,500 new businesses per year.
As a leading international financial centre, London’s landscape offers Singapore companies access to a range of investors, from angel investors, to crowdfunding platforms and banks. The buzzing financial industry has given rise to 18 fintech unicorns within London alone, just second to the San Francisco Bay Area.
London is also the artificial intelligence (AI) capital of Europe – it has an AI supplier base that is double the size of Paris and Berlin combined, growing at 42% versus a global rate of 24% per year.
IoT Tribe is Enterprise Singapore’s Global Innovation Alliance (GIA) partner for the UK. It is an ecosystem builder that strengthens ties between startups, corporates and the broader global deep tech stakeholders. Its mission is to build vibrant and resilient tech communities that add business value and social value. The aim is to help companies build their business by making curated connections that give access to support and technologies.
As a global ecosystem builder, IoT Tribe sources the best startups and connects them with potential investors, corporates and potential end customers. With over 180 alumni and a network of experienced mentors, they accelerate the adoption of disruptive technologies and new business models.
For more information about IoT Tribe and what they offer, please visit www.iottribe.org or email firstname.lastname@example.org.
IoT Tribe is partnering Enterprise Singapore to run GIA Acceleration Programmes that will
After the immersion programme, participants will return to Singapore and develop concrete follow-up action plans based on leads established in the UK. Phase 3 includes group workshops conducted in Singapore for companies to review and share their experiences in the UK, and one-on-one sessions to build on potential business leads.
The IoT Tribe SG Programme targets global deep tech startups that are looking at expanding in Asia, using Singapore as a springboard into the region. It is a Singapore-based acceleration programme that assists startups in developing their Proof of Value and exposes them to IoT Tribe’s networks in Singapore, the UK and the larger European Union (EU), in order to prepare them for market expansion.
Applications are now open, and the inaugural cohort will commence in February 2020. Interested applicants can apply online at www.iottribe.org or contact email@example.com for more information.
The total programme fee is S$5,000 per participant, after support from Enterprise Singapore.
Applications are now open, and the inaugural cohort will commence in March 2020. Interested applicants can apply online at www.iottribe.org or contact firstname.lastname@example.org for more information.
There are no fees for participants.
IoT Tribe can also provide tailored support for Singapore corporates, SMEs and startups interested in engaging the UK ecosystem. Please reach out directly to Joao at email@example.com to enquire about their tailored service offerings.