UK Open For Trade With Global Tech Firms More Than Ever: Kemi Badenoch, Business & Trade Secretary

Rt Hon Kemi Badenoch MP, Secretary of State for Business and Trade and President of the Board of Trade also announced the launch of new global tech awards at the London Tech Week 2023.

Image: Arjit Garg

Reaffirming the inaugural speech of Rishi Sunak at the London Tech Week 2023, Rt Hon Kemi Badenoch MP, Secretary of State for Business and Trade and President of the Board of Trade said that the UK is open for international trade with technology firms from across the globe more than ever. The Trade Secretary was speaking the ministerial reception hosted for the delegates on the second day of the ongoing London Tech Week 2023. She also announced the launch of new global tech awards, the Unicorn Kingdom: Pathfinder Awards 2023 to promote tech startups in the country. 

"It’s a pleasure to be here at the flagship event for the Department for Business and Trade on the tenth anniversary of London Tech Week. This Government has a clear mission: to make the UK the most innovative economy in the world and cement our status as a Science and Technology Superpower. As the Business and Trade Secretary, I see it as my job to create the best possible business conditions to encourage innovative tech companies to start-up, invest and expand," said Kemi Badenoch.

The MP said that the winners of the awards will be flown to the UK and given support to help them accelerate their business growth. "Ladies and Gentlemen, we are open for business. And that’s why I’m excited to announce the launch of our new global tech awards, promoting the benefits of the UK ecosystem around the world. Building on the success of our Tech Rocketship Awards, our Unicorn Kingdom: Pathfinder Awards 2023 will identify the brightest and best tech companies around the world," added Badenoch.

"The UK’s technology landscape is diverse and thriving, with a vibrant startup culture and a robust ecosystem that fosters innovation and provides significant opportunities for investors. We are home to some of the world’s most successful tech companies, including DeepMind, Graphcore and Darktrace, to name just a few. Last year, the UK became just the third country in the world to have a tech sector valued at $1 trillion, with more ‘unicorn’ billion-dollar tech startups being created than Germany, France and Sweden combined," she added. 

Earlier, the UK PM Rishi Sunak, speaking the inaugural address of the London Tech Week 2023 said that the "AI has great power to make any country a global leader.” UK Prime Minister spoke on the growing innovation in the technology sector and how it is surpassing any other industry in the world. United Kingdom is ranked 4th in the Global Innovation Index and the UK tech and digital ecosystem value has reached over $1 trillion in 2022, more than 17x the value ten years ago.