Following along the lines of previous Fintech Missions, DIT will be arranging meetings between aspiring Fintechs and banks, VCs, insurance firms and more. This is the second Mission to Austria (Vienna) and Switzerland (Zurich) with the first Mission generating £30 million in deals.
DIT has created a bespoke page for applicants here. Organizers explains the value for Fintechs to visit the two countries;
- The market for Fintech in Austria is projected to reach €588 million by 2020 and Fintech investments in the DACH Region (Germany, Austria and Switzerland) rank 2nd in EU after the UK. Limited domestic expertise means big opportunities for UK companies to get first-mover advantage in the market.
- Switzerland is home to over 260 banks. It is also the largest global financial centre for international clients in cross-border wealth management. At the end of 2015, assets under management in Switzerland totaled £5 trillion.
The DIT Mission is part of a broader strategy to maintain Fintech prominence in an environment wrought with question due to Brexit and the ongoing negations between London and Brussels. The size of the UK Fintech market is estimated at around £6.6 billion which is significant to the UK economy.