Tech groups join forces on skills, finance and markets
Stephen Ingledew: ‘shared values’ (pic: Terry Murden)
Three organisations working to develop technology are to collaborate on access to skills, investment and new markets.
FinTech Scotland, FinTech North in northern England, and the Treasury-backed Innovate Finance have created a national network that will encourage innovators to work together as the FinTech National Network.
Innovate Finance is a not-for-profit organisation supported by the City of London and is supporting the next generation of technology-led financial services innovators.
Capital continues to flow into the UK’s fintech sector at unprecedented levels. In 2018, the UK had its best year in terms of investment, with over $3.3 billion, split roughly 50/50 between private equity and venture capital. This is 18% higher than 2017, which in turn was more than double 2016 investment levels. These funding levels put the UK third only to China and the US.
Stephen Ingledew, CEO of FinTech Scotland, said: “Innovate Finance is leading on valuable work in areas such as attracting investors, access to skilled people and international engagement, so we are delighted to be working in collaboration with them in supporting the development of FinTech enterprises.
“With our shared values of encouraging diversity and inclusion in financial innovation, we are looking forward to developing our partnership in supporting FinTech growth.”
Chris Sier, chairman of FinTech North and a Treasury FinTech Envoy, said: “Innovate Finance is a globally respected and recognised brand. As the FinTech sector continues to develop at pace outside of London, it is really encouraging to see Innovate Finance taking more proactive steps to engage on a truly national basis.
“London’s role in the global FinTech economy is a significant one, but I strongly feel the regional cities of the UK have much to offer on a national and international basis, even more so if they can collaborate with each other via initiatives like the FinTech National Network.”
Charlotte Crosswell, CEO of Innovate Finance, said: “Clearly, momentum is growing within the UK’s national FinTech scene outside of London and Innovate Finance is committed to ensuring that FinTech is supported and represented across the entire breadth of the UK.”
A partnership was agreed last week between Informatics Ventures and the Data-Driven Innovation Initiative at technology investor event, Engage Invest Exploit (EIE).
The partnership aims to support the launch of more spin-out companies, attract startups, as well as support established tech businesses to seek investment.