FuturePlay teams up with Saudi ministry for Korean startups’ Middle East entry
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Tech-oriented investment firm FuturePlay said Monday it has signed a memorandum of understanding (MOU) with Saudi Arabia’s Ministry of Investment to support Korean startups’ entry into the regional market and encourage joint investments into promising firms. This is the first MOU between a Korean venture capital and the ministry, creating the potential for it to serve as a stepping stone for further cooperation between the two countries in the startup and venture capital ecosystem. Under the agreement, the two sides will cooperate to support firms invested in by FuturePlay and other Korean startups entering Saudi Arabia; make joint investments in health care, fintech, logistics, artificial intelligence and advanced manufacturing; and for joint development of Saudi Stars and jointly develop Saudi Stars, a program designed to nurture promising entrepreneurs in the kingdom. The ministry was established in 2020 to drive the kingdom’s Vision 2030 agenda. It oversees global investment attraction, serving as the gateway and control tower for businesses entering the Saudi market. FuturePlWeiter zum vollständigen Artikel bei Korea Times
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Quelle: Korea Times