Masdar City and the UAE Space Agency announced a new business incubation and acceleration program for space-related start-ups and small and medium-sized enterprises (SMEs), joining the program of spatial economic zone.
Launched in January 2022 in collaboration with the United Arab Emirates Space Agency, the Masdar City Space Economic Zones Program is the first space technology center in the United Arab Emirates under the Space Agency’s Space Economic Zones Program of the United Arab Emirates.
The dedicated area offers an integrated business ecosystem with world-class infrastructure, office space and a conducive environment to support the SMEs and start-ups located there.
Ahmed Baghoum, Executive Director of Masdar City, said, “Masdar City has developed a unique ecosystem that allows business and innovation to thrive together. Our partnership with the United Arab Emirates Space Agency to host the first dedicated space economic zone in the United Arab Emirates is designed to both attract the most talented professionals from around the world, while stimulating entrepreneurship and economic development in the growing space sector. This new business package adds an extra edge to space-related businesses, and we look forward to welcoming them into a business environment conducive to success.
Ibrahim Al Qasim, Deputy Director General of the UAE Space Agency, said: “Space is a major strategic area for the UAE, with its potential to advance innovation, economic development and national achievements. The new Masdar City Space Economic Zone Program Stimulus Plan is designed to help attract and grow more businesses in the space sector. Together with Masdar City, we look forward to helping these companies succeed in the UAE’s growing space industry, while strengthening the country’s established position as a global hub for talent, investment and innovation.
In the future, new companies joining the space zone can benefit from business registration and licensing services, with the Masdar City Free Zone and the United Arab Emirates Space Agency providing tailor-made business licenses for companies. related to space in the launch sector, satellite communication, logistics, data analysis. , science, technology, engineering, etc.
Companies will be offered an integrated set of benefits, including incubation, mentorship, networking, investment opportunities and cooperation with leading global research centers as members of the Space Economic Zones program. In addition, start-ups and SMEs can obtain visa services for their employees, including work visas, residency stamping, medical fitness and Emirates ID card.
The Space Economic Zone program in Masdar City is dedicated to improving the competitiveness of the UAE private sector, developing national capabilities, encouraging the development of the national space industry, contributing to the economic growth of the United Arab Emirates as a center for space technology and supporting the creation of local start-ups and accelerating their growth.– TradeArabia Press Service