LONDON--(BUSINESS WIRE)--Twenty three of London’s fastest growing technology start-ups will join the Mayor of London in the United States this month as part of an international trade mission organised by the Mayor’s International Business Programme and London & Partners, the Mayor’s promotional company.
Led by Rajesh Agrawal, the Deputy Mayor for Business and Chairman of London & Partners, the companies will travel to Chicago and New York, as they look to secure extra investment and explore opportunities to expand and export to the US market.
The US is Britain’s most valuable trading partner, accounting for £4.4 billion of the total value of all exports in April 2016, according to the latest data released by HM Revenue & Customs. The UK also remains the largest single investor in the US, according to separate research from CBI released last month. Having invested more than $449 billion in the US in 2014, the UK's share of foreign direct investment in America tops 15%.
London is the leading global city for foreign direct investment from the United States, with the trade mission providing an opportunity to highlight London’s strengths as a leading business destination for US companies looking to expand overseas. Between 2005-15, London & Partners helped 572 US companies to set up in London, creating close to 16,000 jobs for the capital.
The companies will be joined on the trade mission by the Mayor of London Sadiq Khan who is looking to strengthen ties between London and the US and show London is open for business following the EU referendum vote.
Mayor of London Sadiq Khan said: “London’s is one of the most vibrant and diverse places in the world to start and grow a technology business. These high growth companies have the potential to become the next global tech giants and I am delighted that they will join me in showing the world that London is open to talent, business and collaborations.”
Sandra Sassow, CEO of SEaB Energy said: “We have already experienced how valuable the Mayor’s International Business Programme has been to help us grow in the US having participated earlier this year in the Female Founders International Visit to Silicon Valley. Now, having secured a number of customer orders in the US, the purpose of this second visit is to explore further opportunities in localising our production in the US as well as meeting with potential distribution and maintenance partners”.
The seven-day trade mission will offer some of London’s high-performing tech companies the chance to connect with senior-level tech executives, pitch to international investors and meet with potential clients and partners.
Leading high-growth businesses on the trade mission include clean technology company Pavegen, digital media provider for taxis, Eyetease and cybersecurity solutions company, Trading Hub. They will also be joined by some of London’s Technology ambassadors and Mentors for the programme including Sarah Wood, CEO and co-founder Unruly and Kathryn Parsons, Founder & CEO Decoded.
Janet Coyle, Principal Adviser on the Mayor’s International Business Programme, said: “London is a hot-bed for fast-growing digital companies. From fintech to cleantech, the businesses on the Mayor's International Business programme demonstrate the breadth of London’s tech expertise and talent across a range of sectors. With shared strengths in technology and innovation, cities such as Chicago and New York offer a range of investment and expansion opportunities for the travelling companies. Alongside our network of mentors and private sectors partners, we look forward to helping the companies maximise these opportunities as they look to expand into international markets such as the United States.”