The UAE Space Agency and Masdar will establish the nation’s first Space Economic Zone in Masdar City to create an integrated business ecosystem to propel startups and SMEs.
It is the first of many space-tech hubs the UAE Space Agency will launch to create a competitive private sector, build national capabilities and contribute to the UAE’s economic growth for the next 50 years.
The Space Economic Zone in Masdar City, a pioneer in sustainability and a hub for research and development, will offer world-class infrastructure and an enabling environment to encourage the development of the national space industry. Businesses will be offered an integrated package of benefits including incubation, office space, mentorship, networking, investment opportunities, priority access to government contracts and closer cooperation with leading global research centres.
The Space Economy Zone programme aims to create a sustainable and effective framework to facilitate public-private partnerships; build an attractive and integrated business environment for local and global companies; support the growth of national space technologies and services; stimulate innovation and adopt advanced technologies; and support the establishment of homegrown startups and accelerate their growth.
Sarah Bint Yousif Al Amiri, Minister of State for Advanced Technology and Chairwoman of the UAE Space Agency, said, “Space is the next frontier of business growth set to propel the national economy for the next 50 years. The Space Economic Zone in Masdar City is an exciting milestone in our strategy to create a competitive private sector, build national capabilities, promote public-private partnerships, boost R&D and encourage the spirit of entrepreneurship.
“This programme is a game-changer that will take our flourishing space industry to the next level whilst simultaneously building on the UAE’s established position as a global hub for talent, investment and innovation. We are pleased to enter into this strategic agreement with Masdar City and look forward to working closely in the spirit of collaboration and cooperation as we create a globally competitive space industry.”
Salem Butti Salem Al Qubaisi, Director-General of the UAE Space Agency, said, “Capacity-building is vital to advance the UAE’s knowledge-driven economy and the Space Economic Zone is a major step forward. It will provide a business-friendly ecosystem with world-class infrastructure and competitive services to support the establishment of new space tech firms. Our agreement with Masdar City is the first of many and we intend to move forward quickly to set up more startup hubs nationwide and turn early-stage ideas into