Abu Dhabi: A new business incubation and acceleration package will now assist space-related startups and small and medium enterprises joining the Space Economic Zone Programme in Abu Dhabi’s Masdar City.
The package has been launched by Masdar City, in collaboration with the UAE Space Agency.
Launched in January 2022, the Space Economic Zone Programme in Masdar City is the first space-tech hub in the UAE as part of the UAE Space Agency’s Space Economic Zones programme. The dedicated zone offers an integrated business ecosystem with world-class infrastructure, office space, and an enabling environment to support the SMEs and startups located there.
“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,” said Ahmed Baghoum, executive director at Masdar City.
“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 Programme 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,” said Ibrahim Al Qasim, deputy director general at the UAE Space Agency.
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, startups and SMEs can acquire visa services for their employees, including employment visas, residency stamping, medical fitness, and Emirates ID.
The Space Economic Zone Programme in Masdar City is dedicated to enhancing the UAE private sector’s competitiveness and developing its national capabilities. It also aims to encourage national space industry developments, contribute to UAE’s economic growth as a space-tech hub, and support the establishment of homegrown startups.
