Expanding Their Markets Around the World, Northern Ireland’s Tech Companies

At the second iteration of the Singapore FinTech Festival x Singapore Week of Innovation and Technology, up to eleven technology businesses from Northern Ireland were present looking for new initiatives, partners, and funding (SFFxSWITCH 2020).

Given that it is a conference devoted to furthering digital and technological innovation, it makes perfect sense that this year was the first time that the event was held online. More than 60,000 people are expected to take part in the event, making it the venue for 1,200 investors, 500 professional speakers, 20,000 attendees, and 1,000 exhibitors.

The Irish companies who were present were particularly interested in the fields of artificial intelligence (AI) and data analytics, as well as smart mobility and financial technology. For instance, LoweConex is an expert in the installation of centralized control systems for appliances such as refrigerators found in supermarkets. With these types of systems, variables such as temperatures may be monitored in an effective manner and regulated from a single location.

According to Kailashyar Kumar, head of sales for Asia at LoweConex, “our solution takes these normally disconnected data sources and makes real-time modifications and improvements to our clients’ operations via two-way communication and artificial intelligence (AI)-driven automation.”

It is becoming more widely known that Northern Ireland is a hub of innovation in the technological sphere, particularly in the gaming business. Companies such as Blackstaff Games, which is situated in Belfast, have become well-known for the animation and interactive content they produce.

Another excellent illustration can be found in the realm of iGaming, where players can find some of the very best online slot sites at casinos located in the United Kingdom. Read more here.  One such example is Slotsmillion, which was the very first virtual reality online casino and allows users to play using the Oculus Rift headset. In addition to this, Riot Games, one of the most successful video gaming companies in the world, recently purchased Hypixel Studios with the intention of establishing a permanent headquarters in Derry.

Northern Ireland has, in the words of Nick Caldwell, managed to maneuver itself into a position where it is now renowned throughout the world as the “Silicon Valley for cyber.” This information comes from the head of the Asia Pacific area for Invest Northern Ireland. This assertion is supported by the fact that Belfast, the nation’s capital, is ranked as the third most attractive location in the world for new software development companies seeking investment, behind only London and Singapore.

“We welcome local technology businesses with a worldwide customer base or who have goods that are applicable on a global scale to set up shop in Northern Ireland if they are thinking about expanding to Europe,” “Our people are inherently terrific engineers and inventors; it’s in our DNA,” he said. “We also have amazing engineers, a world-class STEM education system, and a world-class STEM education system.”

In light of all of this information, it comes to the reason that businesses from Northern Ireland would not only be present at SFFxSWITCH 2020 but would also, as a matter of course, play a very significant role while they were there. And it’s not just the country’s technological prowess and innovative spirit that make it the perfect place to kick off a tech boom in the United Kingdom; the location itself is also quite advantageous.

According to the demographic data, the average age of the workforce in Northern Ireland is relatively low, which is an important attribute for fast-growing businesses. Over fifty percent of the population is under the age of forty, and the vast majority of those people attended a prestigious educational institution to earn their degrees.

The region was the first in all of Europe to have connectivity at a 100 percent roll-out rate for broadband, and Belfast will be one of just six cities in the United Kingdom to have access to 5G when it becomes available. Additionally, it is quite simple to reach the rest of the world via air and water, as well as its closest neighbor, Ireland, which is also somewhat of a tech hotspot in Europe, by land. When it comes to establishing a connection to Europe and the UK as well as the affiliate sites in the UK, it’s impossible to imagine a location that could be more suited for digital firms and investors.

“With many well-established fintech organizations and enterprise hubs already operating in the region,” Caldwell came to the conclusion, “the area provides start-ups and SMEs with an attractive and accessible location from which to grow across the UK and Ireland, and into Europe.” This is because the region already contains a large number of well-established fintech organizations and enterprise hubs.