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QBIC's Korean Partners 'Kstartups' Visit QFC

27 Dec 2017

The Qatar Financial Centre, one of the world's leading and fastest growing onshore business and financial centres, welcomed Qatar Business Incubation Center (QBIC)'s Korean partners - Korea Startups Association (Kstartups) - at the QFC premises as part of Kstartups business visit to Qatar. Kstartups have signed a Memorandum of Understanding with QBIC earlier in December 2016 and is currently in Doha along with 9 Korean startups, to participate in QBIC's Demo Day 9 and meet with all the local stakeholders.

The 9 Korean startups offer innovative solutions in their respective industries. They include, "Happy Moonday", a product addressing women's healthcare; "Balance Brain", an effective treatment center 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. 

The visit, which is organised by QBIC, aims to help their Korean partners in assessing available business opportunities to foreign investors in the country.

During the tour of the premises, Yousef Abdullah Fakhroo, Chief Marketing & Corporate Communications Officer, QFC Authority, stated: "QFC is committed to diversifying the economy and positioning Qatar as the region's leading financial and commercial capital. Over the past year, more than 22% of the firms registered with QFC were from Asia. 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. Qatar will continue to grow and develop and I am positive Korean companies could play an important role in that growth." He added: "QFC continues to support the growing role of youth in innovation and business development and is proud to be hosting a tour for Kstartups to be exposed to our business platform." 
Over the past year, more than 22% of the firms registered with QFC were from Asia. 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 & Corporate Communications Officer, QFC Authority
Aysha Al Mudahka, Chief Executive Officer, QBIC, commented saying: "Following our MoU with Kstartups last year, we've been able to collaborate with them on many different levels. Members of the QBIC team, select startups incubated at QBIC and other local incubators, and myself recently visited them in South Korea, shared knowledge and explored investment opportunities, and now we are welcoming them to Qatar. Our plan for them this time around is to expand our collaboration and introduce them to a variety of different local stakeholders in Qatar, 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."

On his part, Daeho Kim, Chairman, Korea Startups Association, stated: "The services offered by the Qatar Financial Center provide numerous and different work opportunities for people residing in Qatar and the Middle East. One of the aspects we strongly believe is helping Qatar achieve its growth goals are 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."
Members of the QBIC team, select startups incubated at QBIC and other local incubators, and myself recently visited them in South Korea, shared knowledge and explored investment opportunities, and now we are welcoming them to Qatar. Our plan for them this time around is to expand our collaboration and introduce them to a variety of different local stakeholders in Qatar
Aysha Al Mudahka, Chief Executive Officer, QBIC
The services offered by the Qatar Financial Center provide numerous and different work opportunities for people residing in Qatar and the Middle East. One of the aspects we strongly believe is helping Qatar achieve its growth goals are the many different international events it's hosting
Daeho Kim, Chairman, Korea Startups Association
Currently, Korea is one of Qatar's top 5 trading partners in terms of exports. The participation in Kstartups business tour comes as part of QFC's valiant efforts to support business growth. The tour serves as part of 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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