True, Europe’s only retail, consumer and leisure investment and innovation firm, is leading a Trade Mission to New York and Chicago to promote UK retail and technology start-ups in collaboration with the UK Department for International Trade (DIT) and Capital Accelerate & Scale Tech Superstars.
The London-based investor will host 20 leading international consumer and retail corporates in New York and Chicago for five days from Monday (17 September), including 7-Eleven, TJX and Abercrombie & Fitch, and introduce senior executives of these companies to 15 of the UK’s most innovative retail and consumer technology start-ups.
True and DIT will also be organising networking events throughout the week to build and expand relationships between the participating delegates and members of the Chicago and New York venture capital communities.
In preparation for the Trade Mission, True has also organised a series of supportive sessions, in partnership with pre-eminent US technology law firm Wilson Sonsini Goodrich & Rosati, that will help the delegates further refine their US expansion plans and strategies.
The initiative builds on the success of the inaugural trade mission which took place last year and generated an estimated £5m in pending contracts for UK companies.
“On this Trade Mission, we are aiming to make introductions that result in commercially valuable implementations of technology within some of the world’s leading retail and consumer groups. True’s model is built on delivering reciprocal advantage to everyone in our Live Network of over 5,000 global retail and consumer professionals and industry leaders – and the Trade Mission is an exemplary demonstration of our model in action,” said True chief commercial officer Mike Tattersall.
Ross Allen, British Director for International Trade (DIT) added: “With the inaugural mission generating an estimated £5m ($6.5m) in pending contracts for UK companies, expanding this year’s mission in size and reach reflects the UK’s strengths in the category. We couldn’t be more pleased with this delegation of enterprising companies, and I look forward to a bright future for each of them in the US market and beyond.”
True has partnered with a number of leading UK retailers in recent months to introduce them to its network of innovative start-ups. It is official partner of the John Lewis JLAB start-up incubator, which has recently been extended to an “always on” model, and it has also partnered with Marks & Spencer to drive its digital innovation agenda.