PwC sponsors GREAT Festival of Innovation in Hong Kong

Setting the scene

More than half (54%) of CEOs in Asia Pacific are planning new strategic alliances or joint ventures to drive growth and profitability this year according to PwC’s latest annual CEO Survey. A further 42% are seeking new mergers or acquisitions, presenting significant opportunities for UK businesses looking to expand overseas.

This doesn’t just apply to large scale businesses, there are also opportunities for SMEs, with 33% of Asia Pacific CEOs looking to work with entrepreneurs and startups in the next 12 months. 44% of CEOs in Asia Pacific are also very confident about their own growth prospects over the coming year, compared to 34% in the UK and 42% globally.

PwC Annual Report 2018: GREAT

“The GREAT Festival of Innovation provides a perfect opportunity for UK businesses to form relationships in Asia Pacific. Appetite for new business ventures is growing, while the Brexit vote has amplified the need for UK firms to explore markets outside the EU. Economic growth in Asia is also expected to outpace the UK in both the short and long term, meaning Asia’s appeal is set to stand the test of time."

Kevin Burrowes, Head of Clients and Markets, PwC UK

How we helped

To help UK companies raise their profile in Asia Pacific and meet leading counterparts, experts and potential trading partners, we sponsored the Department for International Trade’s GREAT Festival of Innovation, which took place from 21-24 March 2018 in Hong Kong SAR.

The four-day Festival combined the best and brightest talents from industry, academia and the creative arts across the UK and Asia to promote the UK as a world-class destination for trade and investment.

Making a difference

In line with the ethos of the Festival, we ran a competition asking British companies to tell us what is GREAT about their business. From folding bikes to cuffless blood pressure monitors, the entries received proved just how British business is both diverse and innovative.

We showcased all six finalists, of which five were private businesses, at the Festival.

We believe the Department for International Trade’s event is an important step towards securing stronger future trading relationships between the UK and Asia. It’s crucial that we develop partnerships, strengthen connections and collaborate to create innovative solutions to shared problems that benefit all parties.”

Kevin Burrowes, Head of Clients and Markets, PwC UK