A NSW Government website

Fintech to the United Kingdom

Eligible businesses can apply for free support to expand financial technologies to the UK. Apply by 5 November 2021.

Program dates

December 2021 to April 2022

Key event

UK FinTech Week, 4 to 8 April 2022

Why this market

The UK’s powerhouse financial services industry is driving strong demand for innovative fintech solutions. While London contains the world’s highest concentration finance and professional services firms, there are also other established and emerging clusters from Edinburgh to Bristol and Bath.

With 50,000 new fintech jobs expected by 2024, the UK fintech ecosystem has sound regulation that supports innovation and access to capital.

Fintech specialties in the UK include wealthtech (including personal finance and cryptocurrency), payments, lending, banking, regtech, insurtech, quote aggregators, accounting, auditing and cashflow management.

Participation requirements and success factors

Eligibility for the overall Program

  • Have headquarters in NSW
  • Be export-capable and export-ready
  • Have a valid ABN (Australian Business Number) registered for NSW
  • Have a commercial product or service
  • Have a website featuring the product or service (marketing and promotional costs might be reimbursed through the NSW Export Assistance Grant)
  • Be prepared to adapt the product or service for the market
  • Have a product or service that is produced primarily in NSW
  • Be willing to travel to Sydney for events and to the selected market (where and when COVID-19 restrictions permit travel), and must cover their own travel expenses
  • Not be considered a trader (meaning the Program is for businesses that produce and add value in NSW)

Additional eligibility requirements  for this stream

  • Have between 5 and 199 full-time equivalent (FTE) employees

The ideal participant

  • Revenue generating
  • Well-resourced for expansion
  • Some customers or qualified leads in the UK
  • Unique and innovative fintech product
  • Compelling proposition for market
  • Awareness of competitors

Some businesses are not eligible for this program

  • No customers and/or not earning money yet

  • No plans to sell into the UK within next 12 months

  • 2020–21 Going Global Export Program “Tech to UK” participants

Curriculum

Market intelligence briefings and cultural training

  • Doing business in the UK, including culture, etiquette and costs
  • The UK fintech landscape
  • The Australia-UK Free Trade Agreement
  • Subsector-specific opportunities in the UK
  • Finding the right channels to market

Pitch training

  • UK-specific pitch deck development
  • Feedback from in-market experts

Go-to-market strategy development

  • Customised go-to-market strategic advice
  • Education on competitor analysis, user research and testing, team building, budgeting, and sales and marketing

Product deep dives and customer needs analysis

  • Industry opportunities, potential partner introductions and business matching
  • Targeted 1:1 business matching (for example, introductions to potential business partners, customers and investors)

Mentoring

  • Mentoring with UK industry leaders and Australian tech executives that have expanded businesses into the UK

Ongoing advice

  • Ongoing support provided by a dedicated NSW Government Export Adviser

Note: The curriculum is subject to change.

Apply

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Applications close on Friday 5 November 2021