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KITA connects Korean tech startups with global and regional investors at ‘Korean Tech Roadshow in MENA’

The roadshow highlighted the latest in technological advancements from 11 Korean startups

The Korea International Trade Association (KITA) UAE Centre successfully hosted the ‘Pitching the Future: Korean Tech Roadshow in MENA’ on October 17 at the prestigious Capital Club Dubai. Co-hosted by KITA and Capital Club, the event aimed to foster investment and business collaboration between Korea and the UAE, while providing a platform for innovative Korean startups to connect with regional investors and industry leaders.

Bringing together over 50 representatives from multinational corporations, venture capital firms, and major MENA companies, the roadshow highlighted the latest in technological advancements from 11 Korean startups specialising in AI, battery technology, fintech, sustainable solutions, and digital innovations. Among the esteemed attendees were Fortune 500 companies and prominent MENA firms, including e& capital, Emirates NBD, Mitsubishi UFJ Financial Group, and members of Capital Club Dubai.

The event coincided with the GITEX Global 2024 tech conference, further underscoring the region’s commitment to technological innovation. The participating startups had the opportunity to present their cutting-edge solutions, followed by a Q&A session that allowed for in-depth discussions with potential investors and strategic partners.

Standard Energy Inc., a standout among the featured startups, captivated the audience with its groundbreaking development of the Vanadium Ion Battery (VIB), specifically designed for Energy Storage Systems (ESS). The company’s CTO shared their key milestones, including securing major supply contracts in 2023 and the launch of product installations in 2024. Plans for the construction of VIB mega factories by 2024 and giga factories by 2030 for mass production were also revealed, garnering significant investor interest.

Jina Cho, senior manager at e& capital, expressed enthusiasm for the advanced technologies on display. "It was evident that the Korean startups showcased both advanced innovations and a strong global presence. At e& capital, we focus on Series A and B startups with scalable models and global operations across key sectors like connectivity, fintech, and AI," said Cho. “We are here to identify companies that can either synergise with our ecosystem or bring transformative disruption, aligning with our investment strategy."

Reflecting on the event’s success, Cho added, "These connections open doors to collaboration and innovation, driving mutually beneficial solutions and sustainable growth for both parties involved."

Philjae Park, director at KITA UAE Centre, delivered the opening keynote, emphasising the growing importance of Korea-MENA cooperation in technology and innovation. "Our goal is to help Korean startups establish a strong foothold in the MENA region, which is increasingly showing interest in adopting advanced technology solutions," Park stated.

As the first Korean startup pitching event co-hosted with Capital Club Dubai, the ‘Korean Tech Roadshow in MENA’ marked a significant milestone in fostering future partnerships and investment opportunities across the region.

Building on the momentum of this successful event, KITA UAE Centre plans to launch the Global Testbed Initiative in 2025, collaborating with free zones and local companies across the MENA region. This initiative will allow Korean startups to pilot their solutions and forge strategic partnerships in the region. Additionally, KITA aims to introduce startup exhibitions modeled after NextRise, Korea’s largest startup fair, to enhance global visibility for Korean entrepreneurs and attract high-impact investments in the MENA region.