The Technology-Enabled Trading Alliance (TETA), a consortium that has rapidly become a hub for innovative solution providers in global trade, is set to become an independent entity, spinning out from ubloquity where it was incubated.
In a strategic move to refocus its core business, ubloquity has decided the time is right to decouple TETA, allowing it to access Government grants and different funding streams that will enable TETA to accelerate faster.
The new entity will also enable TETA to broaden its impact and reach, with John Buxton, pivotal in TETA's formation, stepping up as the Chair of the consortium.
TETA's evolution into an independent entity is more than a structural change; it represents a commitment to providing a centre of gravity for cutting-edge solutions in international trade.
As a collective, TETA is uniquely positioned to open doors to commercial opportunities that might otherwise be inaccessible to individual members. This transition is not only attractive to its members but also organisations like the Institute of Export & International Trade (IOE&IT), as TETA's comprehensive solutions address end-to-end problems in global trade, making it an ideal candidate for fronting significant initiatives and attracting grant funding.
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Rob Chester, CEO of ubloquity, reflecting on this significant development said: “We are very close to finalising a multimillion-pound investment round in ubloquity, so it’s the perfect moment for a strategic realignment.
“John Buxton has been exceptional in leading TETA to become an entity that is greater than the sum of its parts. Under his guidance, I’m certain TETA will continue to thrive, offering integrated solutions to complex trade challenges. ubloquity is excited to support TETA with its future blockchain integration requirements and provide data verification solutions as it scales new heights.”
TETA’s integrated approach allows buyers to access a comprehensive suite of solutions or select specific components as needed, all through one contracting body. This streamlined process significantly simplifies business operations and enhances the ease of doing business.
Governments can leverage TETA's innovations as benchmarks for creating 'green lanes,' facilitating smoother trade while saving money for all stakeholders involved.
TETA's solutions are delivered by specialist technology companies, brought together via an accessible 'application layer,' simplifying the delivery of diverse outputs to customers.
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John Buxton, reflecting on his new role, stated, "I’ve relished the last few years at ubloquity and am extremely proud of what we have achieved, not least being named Startup of the Year in NI, and more recently winning the ‘Innovation in Trade Award’ at the inaugural IOE&IT Trade Awards in London.
“Leading TETA into this new era as an independent entity presents an exciting opportunity to further our vision of transforming global trade through technological innovation. We stand at the forefront of creating solutions that not only drive business efficiency but also contribute significantly to the broader goals of sustainable and streamlined global trade."
As TETA embarks on this new journey, its mission to serve as a beacon for innovation in global trade remains steadfast, with a promise of delivering unparalleled solutions to the international trading community.
Source: Written from press release
