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- New agreement establishes Hub71 as Yahsat’s innovation partner
- Hub71 startup Mental VR secures first contract from new partnership to support Yahsat for distance learning
Abu Dhabi, UAE: Hub71, Abu Dhabi’s global tech ecosystem, and PJSC “Yahsat” (ADX: AEA007501017), the UAE’s flagship satellite solutions provider listed on the Abu Dhabi Stock Exchange (ADX), today announced a partnership, To accelerate the adoption of technology by startups in satellite communications.
Through this partnership, Yahsat will work with the founders of the Hub71 community to advance technological innovations that support the development of mobile satellite capabilities in the UAE. The first contract resulting from the new partnership is an agreement between Yahsat and Hub71-based startup Mental VR, a virtual reality (VR) software development company. Mental VR will provide its state-of-the-art VR technology and provide a dynamic and seamless training program for Yahsat personnel in remote locations.
The wider partnership between Yahsat and Hub71 will help identify technology startups that have the potential to advance the UAE’s space industry and enhance satellite communications technology. Both Hub71 and Yahsat are supported by the Mubadala Investment Company and will collaborate to build national capacity and contribute to the UAE’s economic growth over the next 50 years. As part of the partnership agreement, Yahsat has appointed Hub71 as its innovation partner.
Hub71 startups will work with global experts from Yahsat and receive strategic guidance to gain a deep understanding of satellite technology and the space industry. Startups will also be able to explore business opportunities as part of the Yahsat satellite and technology programme.
Badr Al-Olama, acting CEO of Hub71“Our partnership with Yahsat reinforces our commitment to supporting technology initiatives that have an impact on Abu Dhabi. Through this partnership, we will foster economic opportunity and strengthen the UAE’s growing position as a leading global technology hub.”
Yahsat CEO Ali Al Hashemi added: “Yahsat is proud to be a pioneer in the UAE’s satellite services industry, supporting the establishment of the country as a global space technology hub. Our partnership with Hub71 is in line with our commitment to building local capabilities and enhancing the nation’s space economy by partnering with the start-up ecosystem. As two Emirati entities with a base base in Abu Dhabi, we look forward to working together to create greater opportunities for the growth and advancement of the satellite services industry.”
Since its inception, Hub71 has rapidly expanded its ecosystem, which now has nearly 200 startups spanning 20 industries. The global tech ecosystem creates a thriving business environment for founders, fostering increased business and fundraising opportunities through dedicated programs. Since 2019, the Hub71 startup has raised AED3.2 billion from prominent global investors and generated AED2.7 billion in revenue.
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