Seoul City Supports Investment Attraction for Seoul Innovation Companies in Dubai

Participation in Dubai ICT Startup Expo 'Expand North Star'
Invest Seoul-KOTRA Attracts Interest from Over 50 Local Investors and Others

The Seoul Metropolitan Government announced on the 11th that it will participate in the UAE (United Arab Emirates) Dubai Tech Startup Expo with promising Seoul companies to support investment attraction.

'Expand North Star,' a startup-focused expo separated from GITEX, the largest information and communication technology (ICT) expo in the Middle East, is a venue that attracts investors looking for innovative startups.

2023 'Expand North Star' Expo Site. [Photo by Seoul City]

Invest Seoul, Seoul's dedicated investment attraction organization, conducted a rigorous selection process focused on promising industries in the Middle East, working with regional experts from the Middle East to match local needs (AI, fintech, content, transportation) in order to increase the possibility of attracting capital from the Middle East for participating Seoul companies. Additionally, participating companies receive full support throughout the investment attraction process?from company selection, pre-education, exhibition participation, to post-event investor meetings?through Invest Seoul.

Furthermore, on the 14th local time in Dubai, the Seoul Metropolitan Government and KOTRA will jointly host the 'Dubai Innovation Summit 2024' to attract Middle Eastern capital. The event will include investment attraction presentations (IR) on innovative technologies and services, with 50 local Middle Eastern investors and 15 promising Seoul companies expected to participate.

The event will also be attended by representatives from various organizations with which Seoul and Invest Seoul have established networks, including Hub71 (Abu Dhabi startup incubator), DIFC (Dubai International Financial Centre), DMCC (Dubai Multi Commodities Centre), and the Dubai Chamber of Commerce and Industry.

Jung Young-jun, Director of Economic and Job Planning at the Seoul Metropolitan Government, stated, "The Middle East is emerging as a major investor in the global startup investment and capital markets, backed by vast capital. Seoul is supporting investment attraction for Seoul companies through continuous network building with local investors and investment-related institutions." He added, "We will continue to actively promote the inflow of Middle Eastern capital into Seoul by consistently providing opportunities for exchanges between Middle Eastern investors and Seoul companies, such as participating in exhibitions and hosting investment attraction presentations."

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