Gangnam-gu Supports Promising Startups from UAE in Attracting Middle East Investments

February 24-28 ‘Han-UAE Startup Day’ Held in Dubai and Abu Dhabi... Positive Local Response to IR and 1:1 Business Consultations

[Asia Economy Reporter Park Jong-il] Gangnam-gu (District Mayor Jung Soon-gyun) held the 'Korea-UAE Startup Day' in Dubai and Abu Dhabi, United Arab Emirates, from the 24th to the 28th of last month in collaboration with the Korea International Trade Association, aiming to improve the trade environment weakened by COVID-19 and to promote overseas investment in promising startups.

For this event, the district dispatched a delegation composed of promising startups to the UAE and established a letter of intent for investment with the Tahnoun Group, a royal fund governing the eastern region of Abu Dhabi, thereby creating a foothold for local startups to enter the Middle Eastern market.

The delegation included 10 local startups such as Lululab (Beauty Tech), Bitsensing (Autonomous Driving), and N.Thing (Smart Farm), which won innovation awards at the CES (Consumer Electronics Show) in the United States in January.

These companies held investor relations (IR) presentations and one-on-one business consultations targeting local investors such as the Abu Dhabi Chamber of Commerce, Abu Dhabi Investment Office, and the Middle East startup support organization HUB71, showcasing technologies in various fields including container-type smart farms, autonomous driving 4D image radar, AI skin care, and IT solutions, receiving great responses.

The district decided to proceed with the scheduled event to foster startups whose investments have been contracted due to the spread of COVID-19 and to revitalize their overseas expansion, ensuring that participating companies thoroughly prepared for infectious disease prevention.

This content was produced with the assistance of AI translation services.