SparkLabs Holds Seminar on Expansion into Saudi Arabia

Invitation from the Ministry of Investment of Saudi Arabia

Global startup accelerator SparkLabs announced on the 5th that it will hold a 'Saudi Arabia Market Entry Strategy Seminar' for industry stakeholders wishing to enter the Saudi Arabian market.

The seminar, scheduled to take place on the 19th at DreamPlus Gangnam Center in Seoul, was planned to share useful information and insights about the Saudi Arabian market, which is expanding advanced industries such as IT, content, and artificial intelligence (AI) based on massive financial resources, with domestic entrepreneurs and investors.

The seminar will be held in two parts. In the first part, Majed Al-Eid, a key official from the Saudi Arabian Ministry of Investment, will participate as a speaker to introduce ▲ the Saudi startup and investment ecosystem and related regulations ▲ the current status of overseas startup investment attraction ▲ various support measures to create an investment-friendly environment, and will have a session to communicate with startup stakeholders.

In the second part, Woonghee Lee, founder of H2O Hospitality, a global hospitality tech company that recently stood out in the Middle Eastern market and a graduate of SparkLabs Batch 6, will share vivid experiences from entering the Middle Eastern market and know-how on successfully attracting investment. H2O Hospitality has signed investment contracts with relevant ministries in the United Arab Emirates (UAE) and Saudi Arabia, and is participating as an official partner in the ‘Red Sea Project,’ a massive national tourism development project worth 40 trillion KRW promoted by Saudi Arabia.

Yujin Kim, CEO of SparkLabs, said, “Although there is a rush of IT investment in Middle Eastern countries and domestic startups have keen interest in the local market, practical information such as the status of the startup ecosystem and investment trends is severely lacking. Since we invited officials from Saudi government agencies and entrepreneurs who have successfully entered the market to this seminar, we hope many will gain valuable information.”

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