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Luxembourg - Luxembourgish innovation recognised in South Korea

EU trade agreements open doors to SMEs

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iNUI Studio is a Luxembourgish SME in the computing industry. Founded in 2010 with the support of the Ministry of Economy, Microsoft BeLux and venture capital firm, Rollinger Venture Capital, iNUI Studio develops software solutions for businesses. Specialised in the field of Natural User Interface (NUI) systems like large interactive screens, the company also has patents pending in gesture recognition technologies.

iNUI Studio, based in Foetz, has focussed on the corporate market finding promising business-to-business sales with banks, real estate agencies and other large organisations based locally in Luxembourg, Belgium and France.

The company now sets its sights further across Europe and in markets around the world.  “The ambition is to build a network of distributers and foster closer relationships with major TV manufacturers to initiate partnerships,” explains Olivier Raulot, Co-Founder and CEO. “Negotiations are now underway. In South Korea, for example, we signed a co-marketing agreement with Samsung in April 2016 for our AIRxTOUCH™ technology.”

Raulot, who acknowledges the improved business environment in South Korea as a result of the EU’s 2011 trade agreement, explains that the market’s potential is huge.  "The free trade agreement between the European Union and South Korea is a tool that certainly makes our lives easier. A small company like ours with a total of nine employees does not have the financial and human resources to ensure the management of heavy and burdensome administrative procedures. With South Korea, everything is easier." In 2015 iNUI Studio generated over a third of its €1 million turnover in South Korea.

Find out more about the EU’s trade agreement with South Korea