Government will invest and support tech start-ups exhibiting at iconic Vegas event.
The CES Tech Expo held in Las Vegas is the highlight of the year for anyone with even a remote interest in up-and-coming technology. Whether it’s a major tech giant unveiling its latest gadget or a guy who invented something in his garage, the literal wave of the future happens at this major event. But some critics have argued that too much of the focus and fawning are for the big dogs, leaving the startups floundering.
Now, thanks to some hard-won efforts by local stakeholders, the UK government will be investing in support for a number of startups, providing them with much-needed funding in order to participate and attract the kind of interest they need from an event such as this one.
A really big deal
CES has always been the living, breathing toy catalog of hot new electronics, but it’s also a place where serious investors and existing companies come out to express their interest in new devices and designs. Without the funds to exhibit their products, many startups get overlooked and fail to connect with the kind of investors who could take their products to the next level.
With so many different countries hosting pavilions at this event, critics have said the UK did not offer nearly the kind of financial backing that other countries offered businesses from their regions. With the support of both the government and TechUK, a few startups have been chosen to receive support.
According to an announcement on the initiative, “TechUK have secured support from the Department of International Trade to run a UK Pavilion within the Eureka Park start-up arena. Eureka Park will host more than 800 startups from 35 countries, up from 600 last year. More than 1,100 companies from across the world have exhibited within Eureka Park since its inception in 2012.”
If all goes well, TechUK expects the number of supported startups–and the amount of financial funding–to increase beyond the upcoming 2018 show and invite more startups for future CES events.