Both entities have collaborated to form what is being called the UAE NewSpace Innovation Program. One of the core objectives behind this program is to empower budding space-tech companies to make the most out of New Space, the rising private spaceflight industry.
NewSpace Innovation is a part of the UAE’s broader National Space Investment Promotion Plan, which among other things, aims to upgrade the homegrown space industry into one of the key pillars supporting the country’s economy.
Commenting on this new initiative, Dr. Mohammed Nasser Al Ahbabi, Director-General of the UAE Space Agency, said, “The UAE NewSpace Innovation Programme invites students, entrepreneurs, and startups to share their ground-breaking ideas and transform them into viable commercial products.
He added, “This supports developing space technology as part of the UAE’s private spaceflight New Space sector, which aims to make space more accessible, affordable and commercial.”
The program will focus on incubating and accelerating the growth of four handpicked startups that is expected to “foster a culture of interest for the space sciences in the UAE,” Naser Al Rashedi, Director of the Space Policy and Legislation Department in the UAE Space Agency and Project Manager, noted.
The incubation phase will span three months and will be hosted at the Krypto Labs headquarters in Abu Dhabi. Among other perks, these startups will enjoy unrestricted access to the innovation hub’s regional and global network of investors. Additionally, they will also be mentored by global space experts and other professionals who will help them nourish their business creation, marketing, and sales skills.