Big news here today – we found out that Xero won the International Technium Challenge, an international competition organised by International Business Wales (IBW) and Technium UK.
Xero chief executive Rod Drury has been in the UK this week competing. We won against 19 international contenders – we were up against companies from China, France and South Africa in the final.
A key part of Xero’s UK market entry strategy has been establishing an advisory board, comprising senior UK business people, to assist with building high-level networks in the UK. We’ve made good progress on the groundwork for Xero’s UK market strategy through market research and forming key relationships.
We think the event is an important validation of the Xero opportunity in the UK and will allow us to gain valuable insights into their extensive small and medium business accounting market.