Labour’s Shadow Chancellor Rachel Reeves will head a group of entrepreneurs from some of Britain’s fastest-growing start-ups to the World Economic Forum in Davos, Switzerland next week. The delegation will join Chancellor Jeremy Hunt and Business Secretary Peter Kyle as part of the UK’s push to showcase its thriving tech and innovation ecosystem on the global stage.
The move comes as the Government seeks to position the UK as an attractive destination for foreign investment and talent in the face of heightened economic uncertainty. Reeves, who has been a vocal advocate for small businesses, will use the high-profile event to champion the country’s entrepreneurial prowess and highlight the challenges facing young, dynamic firms.
The start-up founders joining Reeves are set to meet with global business leaders, policymakers and investors at the annual gathering, which brings together the world’s political, economic and cultural elite. They will have the opportunity to showcase their products and services, network with potential partners and investors, and gain insights into the latest trends and developments shaping the international business landscape.
“This is a fantastic opportunity for some of our most promising young businesses to showcase their talents on a global platform,” Reeves said. “As we navigate the economic headwinds, it’s crucial that we continue to support our entrepreneurs and provide them with the tools and resources they need to grow and thrive.”
The delegation will include representatives from a diverse range of sectors, including fintech, clean technology, and digital health. Among the start-ups set to attend are Hoxton Analytics, a computer vision company that uses artificial intelligence to track consumer behaviour, and Oxwash, a sustainable laundry service that aims to revolutionise the industry’s environmental impact.
“Being selected to join the UK delegation to Davos is a huge honour and a testament to the hard work and innovation of our team,” said Kyle Monk, founder and CEO of Oxwash. “We’re excited to share our story and connect with global leaders who can help us scale our business and drive positive change in the industry.”
The visit comes as the UK government seeks to bolster its reputation as a hub for entrepreneurship and innovation, amid concerns that the country is falling behind its international competitors in attracting and retaining top talent. The delegation’s participation at Davos is seen as a crucial step in showcasing the depth and diversity of the UK’s start-up ecosystem to the world.
