Masdar City and the UAE Space Agency Announce Exclusive Business Package for Start-Ups and SMEs at the UAE’s First Space Economic Zone
- Tailor-made business licenses, employment visas, and a bundle of additional benefits will enable space-related businesses to thrive in the UAE’s first space-tech hub
- New package will support Space Zone’s companies in accelerating growth
Abu Dhabi, United Arab Emirates, 21st September 2022: Masdar City, in partnership with the UAE Space Agency, has announced the introduction of a new business incubation and acceleration package for space related start-ups and small and medium enterprises (SMEs), joining the Space Economic Zone Program in Masdar City – Abu Dhabi.
Launched in January 2022 in collaboration with the UAE Space Agency, the Space Economic Zone Program in Masdar City is the first space-tech hub in the UAE as part of the UAE Space Agency’s Space Economic Zones program. The dedicated zone offers an integrated business ecosystem with world-class infrastructure, office space, and an enabling environment to support the SMEs and start-ups located there.
Ahmed Baghoum, Executive Director, Masdar City said, “Masdar City has developed a unique ecosystem that enables business and innovation to thrive together. Our partnership with the UAE Space Agency to host the UAE’s first dedicated Space Economic Zone, is designed both to attract the most talented professionals from around the world, while also driving entrepreneurship and economic development within the fast-growing space sector. This new business package adds an additional benefit for space-related companies, and we look forward to hosting them in a business environment that fosters success.”
H.E. Ibrahim Al Qasim Deputy Director General from the UAE Space Agency said, “Space is a major strategic area of focus for the UAE, with its potential to advance innovation, economic development, and national achievement. The new stimulus package by the Space Economic Zone Program in Masdar City, is designed to help attract and develop more businesses in the space sector. In collaboration with Masdar City, we look forward to supporting these companies succeed within the UAE’s growing space industry, whilst simultaneously building on the country’s established position as a global hub for talent, investment and innovation.”
Moving forward, new businesses joining the Space Zone can avail of business registration and licensing services, with Masdar City Free Zone and UAE Space Agency providing tailor-made business licenses for space-related companies across the launch sector, satellite communication, logistics, data analysis, science, technology, engineering, and more.
Businesses will be offered an integrated package of benefits, including incubation, mentorship, networking, investment opportunities, and cooperation with leading global research centers as members of the Space Economic Zones program. Additionally, start-ups and SMEs can acquire visa services for their employees, including employment visas, residency stamping, medical fitness, and Emirates ID.
The Space Economic Zone Program in Masdar City is dedicated to enhancing the UAE private sector’s competitiveness, developing national capabilities, encouraging national space industry developments, contributing to UAE’s economic growth as a space-tech hub, and supporting the establishment of homegrown start-ups and accelerating their growth.
For more information regarding the new business package by Masdar City Free Zone, please visit:https://bit.ly/3eVKo0y
For more information regarding the Space Economic Zones program, please visit:
Masdar City is Abu Dhabi’s only planned and approved research and development (R&D) cluster and is now home to more than 1,000 companies, ranging from multinationals and SMEs to homegrown start-ups. Some of Masdar City’s major tenants include the International Renewable Energy Agency (IRENA), the UAE Space Agency, Siemens, Tabreed, Honeywell, the Advanced Technology Research Council, and the world’s first university dedicated to artificial intelligence, the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI).
Masdar City in Abu Dhabi is one of the world’s most sustainable developments. It is a working model for cities around the world in environmental, economic, and social sustainability, and continues to push the boundaries of innovation. The City hosts Abu Dhabi’s only planned and approved R&D cluster; Masdar City Free Zone, which is a growing hub for sustainability-focused innovative businesses; and a residential neighborhood with restaurants, shops, sporting facilities, and public green spaces. Masdar City is home to companies dedicated to developing innovations across the sectors of renewables, space, energy storage, artificial intelligence, agriculture, health, and mobility. These include the headquarters of the International Renewable Energy Agency (IRENA), the UAE Space Agency, the regional headquarters of Siemens Energy, G42 Healthcare, the Advanced Technology Research Council, several Fortune 500 companies, hundreds of entrepreneurs, a start-up accelerator program via The Catalyst, and the world’s first university dedicated to artificial intelligence: the Mohamed bin Zayed University of Artificial Intelligence. Masdar City has also pioneered two generations of autonomous vehicles and continues to extend the frontiers of alternative and sustainable transport.
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