Among the delegation is Oxbotica, a deeptech spin-out from Oxford that creates software to turn ordinary cars into autonomous vehicles.
There are also 10 lawtech companies which offer technologies that support, supplement or replace traditional methods for the delivery of legal services by law practice entities or lawyers. They include Avvoka (an end-to-end document automation tool); Cognitiv+ (an artificial intelligence platform that empowers law firms with deeper insights into their legal data); Robin AI (which uses proprietary software to make contracts simple); and Opus2 (a global leader in legal technology, with a focus on disputes).
The UK-Singapore DEA is the first trade agreement in the world to contain specific commitments on lawtech. It has specific provisions that promote electronic contracts and signatures, secure international data flows, and ensure protection of key proprietary information.
The UK’s lawtech sector is valued at £11.4 billion, according to Tech Nation research. The UK has the largest legal services market in Europe and is second globally only to the US.
The companies are spending a week in Singapore hosted by the British High Commission. They will engage with government agencies including the Cyber Security Agency, Defence Science and Technology Agency, GovTech, the Infocomm Media Development Authority, and the Ministry of Law.
Tech Nation, the UK’s leading growth platform for tech companies which is co-leading this, said the delegation will also meet with more than 90 corporates and investors as they look for partnerships and opportunities.
Natalie Black, the UK’s Trade Commissioner for Asia-Pacific, said: “Singapore is a gateway to the rest of Southeast Asia, which has a digital economy projected to reach S$1 trillion by 2030. The region has the demographics and openness that scaleups are looking for.
“Our UK-Singapore Digital Economy Agreement will make the most of this opportunity – bringing together two high-tech nations in a living agreement that keeps up with the pace of digital innovation.”
Gabriel Lim, Permanent Secretary for Trade and Industry, welcomed the opportunity to bring together industry stakeholders to “explore how we can leverage this cutting-edge agreement and help our businesses, especially startups and small-medium-enterprises, to seize new growth opportunities across our combined and growing digital markets”.
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