Fin Tech Focus

A galaxy of ideas

January 21 - 28 , 2020

Gulf Weekly Naman Arora
By Naman Arora

Gulf Weekly A galaxy of  ideas

The UAE Space Agency has entered into a strategic partnership with Abu Dhabi-based Krypto Labs, collaborating to form the UAE New Space Innovation Programme to empower new space-tech companies to make the most out of New Space, the rising private spaceflight industry.

New Space Innovation is a part of the UAE’s broader National Space Investment Promotion Plan, which among other things, aims to upgrade the home-grown 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 New Space Innovation Programme 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 New Space sector, which aims to make space more accessible, affordable and commercial.”

The programme will focus on incubating and accelerating the growth of four handpicked start-ups over three months at the Krypto Labs headquarters, where they 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.

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