Abu Dhabi: Masdar said on Monday that it has signed an agreement with the Khalifa Fund for Enterprise Development with the goal of enhancing opportunities for Emirati-led clean technology entrepreneurship.
The agreement was signed by Ahmad Belhoul, CEO of Masdar, and Abdullah Al Darmaki, CEO of the Khalifa Fund for Enterprise Development. The two organisations will explore areas of collaboration in the growing clean technology sector in Abu Dhabi and will work towards fostering greater business development expertise, they said in a statement.
Masdar will support the Khalifa Fund in developing its most promising clean technology ventures. It will also refer Emirati entrepreneurs to the Khalifa Fund and will explore joint funding of pertinent proposals. Both parties intend to help Emirati entrepreneurs expand their networks in an effort to foster greater business enterprise across the UAE.
The agreement also makes provision for Khalifa Fund-related enterprises to enjoy significant benefits when choosing to locate in Masdar City. Qualifying companies are to be exempt from registration fees and first year licensing fees.
“The clean tech sector holds significant opportunities for the UAE and for Emirati entrepreneurs. Our partnership with the Khalifa Fund will help further develop talent and add to a growing list of UAE clean tech success stories, many of which have started at Masdar,” Belhoul said.
