The Department for Business and Trade is offering six standout UK emerging tech companies the opportunity to supercharge their entry into the German market and grow their customer base as part of a new government-backed UK Tech Accelerator programme based out of Stuttgart.
Hosted at Stuttgart-based future industries hub CODE_n, the programme will offer a five-month immersive experience for the selected companies. Successful applicants will benefit from a tailored support package, including introductions and visits to key global corporates and venture capitalists such as Bosch, BMW and ZF.
The city of Stuttgart is the capital of the German state of Baden-Wuerttemberg – the third most innovative state on earth and Germany’s largest exporter. In addition, it spends around €30 billion on Research & Development each year – the highest intensity of any region in Europe.
By being placed within the heart of the German technology eco-system, the six companies will have a unique opportunity to foster collaborations, drive export successes, and develop proofs of concept with industry leaders, starting from September 2024.
UK Department for Business and Trade’s Country Director for Germany, Kathryn Boyd, said as the UK’s biggest European trading partner, Germany was a natural fit for piloting the UK tech accelerator.
Ms Boyd said: “Our trading relationship with Germany is one of the most high-tech on earth, incorporating trade in artificial intelligence, cyber security and quantum computing amongst others. The UK’s trade with Germany surpasses trade with China in value and is second only to UK trade with the US, but with the benefit of being right on our doorstep. In fact, the UK exports around £2.4bn of technology services to Germany, up from around £1.5bn in 2016.
“With Europe’s leading tech eco-system being found right here in the UK, our businesses are perfectly placed to ensure that Germany’s leading global corporates and exporters are early adopters of emerging technologies. Through the accelerator, our aim is to make it even easier for UK tech companies to launch themselves in the German market.”
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