FinTech companies from the Baltic and Nordic regions visited Manchester this week to learn about opportunities for growing their businesses in the Northern Powerhouse region.
The Department of International Trade (DIT), in partnership with Royal Bank of Scotland Personal and Business Innovation, have launched the Northern Powerhouse Programme which looks to unleash the potential of the FinTech sector across the region.
As part of the programme more than 20 Baltic and Nordic FinTech companies met DIT and Royal Bank of Scotland representatives as well as other finance experts to look at how the Northern Powerhouse can help transform their businesses.
During their visit, which began on Tuesday 21 November, they met with businesses currently operating within the FinTech space in Manchester and visited The Vault – Manchester’s new FinTech facility.
Businesses also took part in a pitching contest organised by DIT and judged by the bank’s Personal and Business Innovation team. Following this, the firms visited Leeds to develop a better understanding of Yorkshire’s FinTech offering.
Minister for investment, Mark Garnier, said: “The Northern Powerhouse continues to be a leading centre of creativity and innovation. As an international economic department, DIT is committed to supporting the UK’s FinTech sector reach its full potential and this trade mission will be a boost for the region’s ambitious tech and digital companies as they make the right contacts with their European counterparts to take advantage of trading opportunities across the world.”
Managing Director, business & premier banking at Royal Bank of Scotland, said: “Small businesses in the North of England can benefit from seeing new technology and process innovation – enabling them to grow, scale and boost their businesses sustainably. We’re proud to support the Northern Powerhouse Programme as it gives local SMEs and international businesses the opportunity to leverage expert insight, network and benefit from new ideas. We’re applying this principle of continual innovation ourselves with investment in tools for customers like Sensibill and FreeAgent.
“We look forward to seeing how the programme, which we have launched in partnership with DIT to support the North of England, develops and supports continued growth across the Northern Powerhouse region.”
According to the Tech North Investment Index, £201.2m was invested in Northern tech companies in 2016.