- The "New Space" innovation program is part of the "Plan to Promote Space Investment", which aims to enhance the role of the space sector in developing the national economy.
- Krypto Labs in Abu Dhabi will host the companies that have been chosen within the three-month business incubator program.
- Participants will have the opportunity to get to know the local and international investor network of Krypto Labs
The Emirates Space Agency announced its cooperation with Krypto Labs, the Abu Dhabi-based Global Innovation Center, to launch a “New Space” innovation program nationwide. The initiative aims to boost the growth of companies operating in the private space flight sector in line with the Agency’s efforts to accelerate the growth of emerging technology companies in the field of space science.
The “New Space” innovation program is part of the “Plan to Promote Space Investment,” which aims to enhance the role of the space sector in developing the national economy, consolidating a high national culture and experience in the field of space, and contributing to building a competitive national economy based on knowledge, innovation, and future technological applications.
Krypto Labs in Abu Dhabi will host the companies that have been chosen within the three-month business incubator program, where they can benefit from all business incubator facilities. Moreover, the participants will have the opportunity to get to know the local and international investor network of Krypto Labs, as they will be trained by a group of the best global space experts. This will give them an opportunity to develop their skills in the fields of business creation, marketing, sales, and other fields, as well as an opportunity for students, entrepreneurs, and companies.
“The UAE NewSpace Innovation Program invites students, entrepreneurs, and start-ups to share their ground-breaking ideas and transform them into viable commercial products. This supports developing space technology as part of the UAE’s private spaceflight NewSpace sector, which aims to make space more accessible, affordable and commercial,” said Dr. Eng. Mohammed Nasser Al-Ahbabi, Director-General of the Emirates Space Agency.
“The New Space innovation program encourages students, entrepreneurs, and startups to share their creative ideas to transform them into valuable commercial products, as this step contributes to supporting efforts to develop space technology within the private space flight sector in the UAE, which aims to facilitate access to space in terms of cost.” He added, “the initiative is characterized by its compatibility with the National Space Sector Strategy 2030 and the National Plan to Promote Space Investment, which aims to encourage investment in the emerging space sector in the United Arab Emirates and as part of the goals of the Emirates Space Agency we are always keen on promoting the development and implementation of all areas of space science and technology in the country.”
For his part, Dr. Saleh Al Hashemi, Managing Director of Krypto Labs, said, “by supporting innovators and young entrepreneurs, we aim to foster a spirit of originality and zest within start-ups to solve global challenges that keep the UAE on the frontier of the innovation map and elevate its position as a leader for innovation-focused businesses.”
Eng. Nasser Al Rashdi, Director of Space Policy and Legislations at the Emirates Space Agency and the project manager, explained that the “New Space” program is the first of its kind at the state level and regionally, as it was planned according to the highest standards and based on international best practices, as the program seeks to achieve effective cooperation and partnership between different stakeholders, such as academia, space investment and research, and those that benefit from space technologies and business incubators and accelerators in the country.
“The program aims to incubate and accelerate the growth of four start-ups that will play a major role in fostering a culture of interest for the space sciences in the UAE. This is in line with the Ghadan 21 development accelerator program, which aims to transform the Emirate of Abu Dhabi into a global innovation hub. By February 2020, we aim to select high-skilled teams whose exceptional ideas will have the potential to push forward our vision towards a diversified economy.”