South Korea’s fifth-largest metropolis Daejeon Metropolitan City, and the Business and Employment Agency of Daejeon held an innovative program to support companies attracting foreign investment from July 4 to November 30. The goal of the program was to promote Daejeon’s promising manufacturing and IT companies to the global stage. CompanyA operated the program with the goal of fostering a global outlook and promoting globalization of participating companies. This program focused on the advancement of 10 selected companies in the manufacturing and IT fields from Daejeon to Dubai.
The 10 participating Korean companies were tailored to achieve successful results in Dubai based on their promising products and services. Representative participants included Redwit, which creates blockchain-based software, Wizchem, which manufactures medical devices and cosmetic raw materials, Stone Lab, which provides medical devices and healthcare solutions and in addition, Hayan Mind, Light Beyond Drones, EMCT, IOPs, Carbo Expert, XMW, R&D Project also participated in the program. The companies underwent rigorous mentoring and exclusive lectures on the Dubai ecosystem and market dynamics, with the program culminating in an on-site event in Dubai. After the company diagnosis, each participant underwent through catered training, received mentoring for business models, perfected Investor Relations (IR) decks customized to the Dubai ecosystem, gained insights into the Dubai market for investments, and were also equipped with IR videos for easier communication with investors.
The on-site schedule from October 13th to 18th, included acceleration programs and buyers matching session at IN5tech, global demo days at Astrolabs, and an insightful visit to GITEX, the world’s largest tech and startup show where companies had the chance to explore not only the latest pioneering technologies in the world but also opportunity to find partners for present and future collaborations.
Post the Dubai program, AGCC(also known as GCCaccelerator), a leading venture studio and accelerator that invests and supports entrepreneurs who want to scale their startups globally and in the GCC region, facilitated essential follow-up matching with investors and partners. Around 90 follow-up matchings with investors were conducted leading to events such as signing MOUs and LOIs.
“We are delighted to announce the successful conclusion of the Daejeon-Dubai Business Nexus program, a testament to the vibrant entrepreneurial spirit of companies in Daejeon“, said the officer of Daejeon Metropolitan City. “We extend our heartfelt gratitude to the officials in Korea and Dubai for providing this invaluable opportunity” he added.
The initiative was further enriched by the active participation of investors and esteemed guests. Special recognition goes to AGCC’s Managing Partners, Chiara de Caro and Han Gust, for facilitating key meetings with industry leaders such as Talabat’s CEO, Tomaso Rodriguez, and the DMCC (Dubai Government Authority).
The program also received crucial support from industry luminaries including Riso Dongok Ahn, CEO of The Garrison, Sameer Sortur, Founder and CEO of SquareCircle Global, Swethal Kumar, Founder and CEO of Startupscale360, and Saad Syed of Astrolabs, who contributed to the success through online mentorship and on-site IR pitching programs. A heartfelt appreciation is extended to Rekha Setpal from in5 Dubai for sharing her invaluable knowledge with the delegations.
Building on this success, Daejeon Metropolitan City plans to continue fostering global partnerships and empower Daejeon companies to succeed in the international business environment.
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