Tech Council and techUK sign partnership agreement

The Tech Council of Australia (TCA) and techUK have formally signed a memorandum of understanding (MOU), building on the momentum of the Australia-UK Free Trade Agreement (FTA) which came into force in 2023.

The FTA includes an innovation chapter that recognises the important role that innovation plays in stimulating competitiveness, increasing productivity, encouraging investment and promoting international trade. It also includes a strong digital trade chapter emphasising the importance of promoting trusted data flows and enabling digital trade facilitation.

The MOU was signed during London Tech Week at the UK Department for Business and Trade in the Old Admiralty Building and announced at the Aus-UK Chamber of Commerce Tech Week Event at Australia House in London. At the core of the MOU is a commitment to supporting technology businesses, especially SMEs, to expand across borders. This means better access to markets, clearer insights into regulatory environments, and stronger connections to potential partners and investors.

The TCA says the partnership is a practical step towards implementing the objectives of the FTA and formalises those ambitions at an industry level. The TCA and techUK will work together to deepen cooperation and collaboration between tech sectors, with a focus on technology trade, regulation, investment and innovation. This includes sharing knowledge and insights, aligning on regulatory and policy issues, and driving practical commercial opportunities for UK and Australian technology companies.

The partnership will focus on emerging and critical technology areas including artificial intelligence, cybersecurity, digital identity and fintech. These are sectors where both the UK and Australia have established industry strengths and where closer collaboration can unlock new commercial opportunities to bolster long-term digital resilience.

“We are delighted to support this partnership, which coincides with the two-year anniversary of the Australia-UK Free Trade Agreement,” said Australia’s Trade and Investment Commissioner to the United Kingdom and Ireland, Annika Barton. “It sends a strong signal [that] the opportunities created through the FTA are being realised and backed by meaningful industry partnerships on the ground. The new partnership will raise awareness of the opportunity for commercial collaboration between our respective tech sectors and complement existing market expansion pathways such as Austrade’s new London Landing Pad program.”

The UK Government’s Deputy Trade Commissioner for Australia and New Zealand, Louise Cantillon, also welcomed the initiative.

“I am delighted to support this partnership between techUK and the Tech Council of Australia,” she said. “The UK has the third-largest tech sector in the world, is home to multiple unicorns, and investment is at a 20-year high, with VC investors pumping $16.2 billion into UK tech last year. Likewise, Australia has demonstrated success at growing and attracting global tech companies in a variety of verticals such as business software, biotech and paytech.

“To truly recognise the economic potential of technology within our countries, we need to bring together founders, academia, trade associations, investors and government to drive ambition and share ideas and best practice. By working together through partnerships like these, we can unlock new opportunities, drive innovation and strengthen the position of our tech nations.”