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ABU DHABI – Masdar City, in partnership with the UAE Space Agency, announces a new business incubation and acceleration programme for space-related start-ups and small and medium enterprises (SMEs) to join Masdar City’s Space Economic Zone initiative – Abu Dhabi zabi.
Launched in January 2022 in partnership with the UAE Space Agency, the Space Economic Zone is the UAE’s first space technology centre and is part of the UAE Space Agency’s Space Economic Zone programme. The precinct provides an integrated business ecosystem with world-class infrastructure, office space and a conducive environment to support SMEs and start-ups located there.
Ahmed Baghoum, Executive Director of Masdar City, said: “Masdar City has developed a unique ecosystem where business and innovation can prosper together. We are partnering with the UAE Space Agency to host the UAE’s first A dedicated space economic zone designed to attract the most talented professionals from around the world, while also driving entrepreneurship and economic development in the fast-growing space sector. This new business package adds an increase to space-related companies As an added bonus, we look forward to hosting them in a business environment that fosters success.”
Ibrahim Al Qasim, Deputy Director-General of the UAE Space Agency, said: “Space is a key strategic priority area for the UAE with the potential to drive innovation, economic development and national achievement. The new stimulus package for the Space Economic Zone, Masdar City, is designed to help attract and developing more businesses in the aerospace sector. In partnership with Masdar City, we look forward to supporting the success of these companies in the UAE’s growing aerospace industry, while strengthening the country as a global hub for talent, investment and innovation.”
Going forward, new businesses joining the space zone can take advantage of business registration and licensing services, Masdar City Free Zone and the UAE Space Agency provide tailored business licenses for space-related companies in the launch sector, satellite communications, logistics, data analytics, Science, technology, engineering, etc.
Businesses will receive a comprehensive package of benefits including incubation, mentoring, networking, investment opportunities and collaborations with leading global research centers that are members of the Space Economic Zone program. In addition, start-ups and SMEs can obtain visa services for their employees, including employment visas, residence stamps, healthcare and Emirates ID.
Masdar City’s Space Economic Zone initiative works to enhance the competitiveness of the UAE’s private sector, develop national capabilities, encourage the development of the national space industry, promote the economic growth of the UAE as a hub for space technology, and support the establishment and acceleration of home-grown start-ups .
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