(MENAFN- Gulf Times) Korea Startups Association (Kstartups), the South Korean partner of Qatar Business Incubation Center (QBIC), yesterday explored business potential in Qatar.
In this regard, Kstartups visited the Qatar Financial Center (QFC), aiming to help their Korean partners in assessing available business opportunities to foreign investors.
Kstartups had signed a memorandum of understanding with QBIC earlier in December 2016 and is currently in Doha along with nine Korean startups, to participate in QBIC's Demo Day 9 and meet with all the local stakeholders.
'This is an ideal time for companies to expand to Qatar as foreign companies and firms have an abundance of opportunities to service a market that has proven its resilience and resolve, Yousef Abdullah Fakhroo, chief marketing and corporate communications officer, the QFC Authority, said.
Qatar would continue to grow and develop and 'I am positive Korean companies could play an important role in that growth, he added.
The nine Korean startups that offer innovative solutions include, 'Happy Moonday, a product addressing women's healthcare; 'Balance Brain, an effective treatment centre for children's mental wellbeing; 'Talk Body, a technology that improves heart monitoring; 'Cloudike, a private cloud storage service; 'Mesh, a progressive delivery solution; 'Minds Lab, a CS solution AI integrated system; 'GSIL, a worksite total monitoring system; and finally 'Paybot, a cloud-based credit card payment system, personalised for banks; and 'Visual Camp, an eye tracking solution for mobile VR devices.
'One of the aspects we strongly believe is helping Qatar achieve its growth goals with the many different international events it's hosting. The goals and deadlines set by the Qatar National Vision 2030 are supporting Qatar on its road to success and these are the powerful core values that our startups and SME's live by, Daeho Kim, chairman, Kstartups, said.
Currently, Korea is one of Qatar's top five trading partners in terms of exports. The participation in Kstartups business tour comes as part of the QFC's valiant efforts to support business growth.
'Our plan for them this time around is to expand our collaboration and introduce them to a variety of different local stakeholders in Qatar, the QFC being one of the largest ones, in hopes of providing them with the opportunity to develop mutually beneficial partnerships with these companies, meanwhile providing the opportunity for these organisations to benefit from Kstartups' experience and diverse market expertise, according to Aysha al-Mudahka, chief executive of the QBIC.
The tour serves as part of the QFC's international programme to promote Qatar as a lucrative destination for companies looking to expand their operations to the Middle East.
Throughout 2017, the QFC has made many efforts to attract local and international firms to its platform. This includes roadshows that visited a host of major cities across Europe and Asia.
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