UAE’s Masdar City has partnered with the UAE Space Agency in order to introduce a new business incubation and acceleration package for space-related startups and small and medium enterprises (SMEs), joining the Space Economic Zone Program in Masdar City, Abu Dhabi.
Launched in January 2022, 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 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.”
According to the statement, “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.
Furthermore, startups and SMEs can acquire visa services for their employees, including employment visas, residency stamping, medical fitness, and Emirates ID.
“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,” HE Ibrahim Al Qasim, Deputy Director General from the UAE Space Agency noted.