United Kingdom Fintech - Canadian Technology Accelerator
The United Kingdom Canadian Technology Accelerator (CTA) team is excited to announce that recruitment for our next CTA program focusing on fintech has now opened!
The UK is a world leader in the financial industry, and its capital London is a global cornerstone of the banking and finance sectors. Financial services are the backbone of the UK economy, generating over $460 billion of economic output and representing around 12% of the country's GDP. The UK is also the highest net exporter of financial services globally.
The UK's position as a leading financial centre provides fintechs with a solid customer base, in addition to a progressive regulatory approach that fosters innovation such as an Open banking regime. This is why the UK is the leading fintech hub in Europe, with more than 3,200 fintechs headquartered in the UK. The number of UK fintechs is second only to the US worldwide, but three times more than Germany, France, and Singapore. The UK market also offers access to engaged investors. Last year, Private Equity and Venture Capital fintech investment in the UK reached about $23.5 billion. One third of all UK unicorns – companies valued at over $1billion – are fintech firms, a higher share than in any other financial centre.
Our CTA program will help selected participants navigate this vibrant market and connect them to relevant stakeholders to achieve their goal in the UK.
There are unparalleled growth opportunities for Canadian companies looking to expand into this exciting market, particularly if you have innovative and cutting-edge technologies in some of these areas, among others:
- Paytech
- Wealthtech and asset management
- Regtech
- Credit and lendingtech
- Digital banking and all technology that underpins open banking
- Digital identity technology
| Application deadline | Program dates | Time commitment |
|---|---|---|
| Closed | February 26 to April 19, 2024 | About 2 hours per week Last week of programming is comprised of in-market activities |
What are the benefits of joining?
The UK Fintech CTA will give you:
- extensive market briefings on doing business in the UK, with deep-dive sessions presented by sector experts on topics such as the fintech landscape and opportunities and challenges of the market, the UK regulatory framework and progressive initiatives, funding and support available, and business case design
- access to potential investment, pilot projects, and partnerships in the UK region
- networking opportunities and connections, with events allowing participants to present to potential buyers, strategic partners, and investors
- strategic guidance on entering the UK market through tailored mentoring from local industry experts
Who should apply
High-potential, scale-up stage fintech companies who are interested in expanding into the UK. The applicant must also be able to commit to coming to the UK for the in-market week of programming on April 15 to 19, 2024.
Your company must have:
- a revenue-generating business with existing market traction and a fully-built validated technology
- a passionate management team fully committed to participate in the virtual and in-market program
- a clear go-to market strategy, specific growth goals and sufficient resources to enter the UK market
The Trade Commissioner Service supports equity, diversity, and inclusion in trade. We strongly encourage companies led by Canadians of all backgrounds to apply.
How the program works
The UK Fintech CTA will be an 8-week hybrid program beginning at the end of February, with most sessions delivered online. The program includes:
- virtual on-boarding: introductions to the CTA supporting team, program partners and fellow cohort members;
- needs assessment: analysis of the company's current status and knowledge base in the UK region, as well as program goals;
- participation in the upcoming year's Innovate Finance Global Summit, coinciding with the organization's celebration of their tenth year of this event;
- virtual market briefings, mentor match-making and coaching sessions; and
- strategic business-to-business (B2B) introductions with relevant stakeholders.
CTA participants will be invited to join us here in the UK to attend the events that will allow them to build and grow their in-market presence and network. Opportunities will be arranged to allow the participants to share their value proposition to key market players, investors and potential customers during pitching and networking sessions. More information will be shared with the selected cohort.
Testimonial
"I think the CTA UK is the perfect landing pad for any Tech company to launch in the market. It generated insights and results beyond my initial expectations. The UK Canadian delegation were great hosts and I am looking forward to leveraging our new connections and acquired knowledge to fully embrace the opportunity that the UK market represents. I want to thank everyone involved […] I am truly lucky to have been a part of this and I wish it on anyone with the same aspirations." – Alexandre Bouchard, V3 Stent (UK Enterprise Software CTA 2022-2023)
"It was one of the finest programs in the recent times. Well planned and thought through." – Prateek Saxena, Hygge (UK Digital Energy CTA 2021-2022)
Contact us
Learn more about this program by contacting:
Claudio Ramirez
Manager
Canadian Technology Accelerator – United Kingdom
claudio.ramirez@international.gc.ca
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