All About the First Space Economic Zone in Masdar City

by Sweta Bose 02, Dec 2022

masdar city

Masdar City serves as a global hub for businesses in the Middle East, creating, researching, producing, and developing energy products as well as upcoming green technology items. To become Abu Dhabi the world's center for renewable energy, it has the most effective, business-friendly legislation and top-notch research facilities. 

This Free Zone is a well-known location that offers businesses involved in clean technology and renewable energy a welcoming, commercial, and entrepreneurial atmosphere. They receive all the advantages of free zones as a result.

This Free Zone is a well-liked location that offers clean technologies and renewable energy in a commercial and entrepreneurial environment. They have access to all the benefits that come with free zones.

The UAE Space Agency and Masdar will create the nation's first space economy zone in Masdar City to encourage startups and SMEs. It is the first space economic zone in the country, located in the city, and it will support start-ups and SMEs in the space industry by fostering an integrated business environment.

The UAE Space Agency Created the First Space Economic Zone 

The zone will serve as an R&D incubator and intends to provide the environment and facilities required to promote the growth of the country's space sector. According to the agreement, the Masdar City Free Zone will grant commercial licenses to organizations engaged in various space-related activities, including launch services, satellite communication, logistics, data analysis, science, technology, and engineering. 

The UAE Space Agency and the International Renewable Energy Agency (IRENA) already have their headquarters in Masdar City.

This Economic Zone will Boost Spacetech Start-Ups and SMEs in UAE.

The UAE Space Agency hopes to develop a competitive private sector, strengthen national capabilities, and contribute to the Emirates' economic growth over the next 50 years. This project is the first of many space tech centers that will be developed.

A comprehensive bundle of advantages will be made available to businesses, including incubation, office space, mentorship, networking, investment opportunities, priority access to government contracts, and tighter collaboration with top international research institutions.

The Emirates Space Agency’s Decision Will Be Highly Beneficial

As a result of the program, a strong framework will be established for facilitating public-private partnerships, creating an integrated business environment for both domestic and international businesses, encouraging innovation, fostering the development of national space technology services, and supporting the establishment and rapid growth of homegrown startups.

The Main Pillars of the Economy Zone Program for Space Companies in Masdar City 

The institution intends to promote innovation and entrepreneurship in the space industry. The four main pillars of the Space Economy Zone program are as follows:

  1. The Space Economy Accelerator Group

This group will encourage coordination between various startups, public sector organizations, and the business sector to align and facilitate strategic efforts. Additionally, it will generate solutions to problems that space tech startups face and promote participation in regional and international events.

  1. Space Labs

Startups, SMEs, and business owners will always have access to top-notch space laboratories, research facilities, and support services so they may use the current infrastructure and technology, consulting, mentoring, and other services.

  1. Space Government Services

Services, including licensing, mentorship, and incubator possibilities, will be available on a special page on the UAE Space Agency's website.

  1. Work Space

The UAE's premier business and innovation-free zones will provide incubation and acceleration services to startups, SMEs, and company owners at affordable rates. Additionally, they will profit from top-notch office space and infrastructure that will help businesses start quickly.

Incorporate Your SME Business in UAE with Us

Government-supported technology and energy businesses can only operate in Masdar City. Commitbiz will take care of all licensing and documentation requirements from the beginning to the end of the incorporation process.

Our team of experts will guide you regarding your business setup in UAE for any activity. Kindly confirm and connect with us for the same.

FAQs

What will be provided as per the agreement between the Masdar Free Zone and UAE Space Agency?

According to the agreement, the Masdar City Free Zone will grant commercial licenses to organizations engaged in a variety of space-related activities, including launch services, satellite communication, logistics, data analysis, science, technology, and engineering.

Does the UAE Space Agency and the IRENA have their headquarters in Masdar City?

Yes.

What are the advantages that businesses will get if they incorporate their companies here?

A comprehensive bundle of advantages, including incubation, office space, mentorship, networking, investment opportunities, priority access to government contracts, and tighter collaboration with top international research institutions, will be made available to businesses.

What will be the outcome of the Emirates Space Agency’s decision?

As a result of the program, a strong framework will be established for facilitating public-private partnerships, creating an integrated business environment for both domestic and international businesses, encouraging innovation, fostering the development of national space technology services, and supporting the establishment and rapid growth of homegrown startups.

What are the four main pillars of the space economy zone program in Masdar City?

The four main pillars are as follows:

  • The Space Economy Accelerator Group
  • Space Labs
  • Space Government Services

Work Space

Start your Entrepreneurship Journey Today in UAE from AED 5,500

Commitbiz will help you with every step of your success journey. You can get one-on-one mentorship from our experts and get guidance on how to clear the legal proceedings and grow your business.

Know More