KITA Sent Startup Delegation to
Dubai and Abu Dhabi
10 startups in AI, healthcare,
K-Wave content, etc. held one-on-one consultations with 70 local companies -
While most exhibitions and
consultation events at home and abroad have been cancelled due to the spread of
COVID-19, the Korea International Trade Association is taking the lead in
making inroads into the Middle East market for Korean startups.
The Korea International Trade
Association (Chairman: Kim Young-ju) dispatched the “Korea-UAE Startup Export and Investment Attraction Delegation” to Dubai and Abu Dhabi in the United Arab Emirates (UAE) for five
days from February 24th in cooperation with Gangnam District Office
(Head: Jung Soon-kyun) .
Ten startups in various
fields such as artificial intelligence (AI), healthcare, smart city, K-wave
content, including five startups based in Gangnam District such as Bitsensing
(autonomous driving), the CES 2020 innovation award winner last January, N.THING (smart farm), and lululab
(beauty) participated in the delegation.
On 25th and 26th, the delegation
visited the Dubai Future Foundation and Dubai Airport Free Zone, directly
operated by the Crown Prince, and conducted one-on-one consultations with some 50
local leading investors and buyers.
DC Medical introduced medical
technologies that measure the possibility of preterm birth of pregnant women at
the Innovation Week event hosted by the Dubai Future Foundation, and discussed
with the Dubai Health Authority and local hospitals the ways to take part in
demonstration projects that are conducted before commercialization of
technologies. CRESCOM's AI-based automated medical image analysis solution,
Bitsensing and Alt-A's smart city solution, lululab, Xinapse, Jam and Dilly
Dilly's AI-integrated Korean Wave content also received great attention from local
hospitals as well as shopping malls.
On 27th, they
moved to Abu Dhabi and met with 20 local support organizations and investors,
including the Abu Dhabi Chamber of Commerce and Industry and the Abu Dhabi
Investment Authority. Through the meeting, Bitsensing and CRESCOM signed a
letter of intent for investment with UD Development Investment, a royal fund of
Lee Dong-gi, head of
Innovation and Startup Group of the Korea International Trade Association,
said, “In preparation for the post-oil era, the UAE is exploring and executing
innovation tasks in cooperation with the National Police Agency, the National
Health Service, and the Immigration Bureau.” He also stated, “Since they have keen interested in AI, healthcare, blockchain, and
smart city in particular, there is a great room for Korean startups to expand.”