The UAE Space Agency has announced its collaboration with Abu Dhabi-based global innovation hub, Krypto Labs, to launch the UAE NewSpace Innovation Program. The initiative aims to maximise the growth of space technology start-ups in NewSpace, the rising private spaceflight industry.
Selected applicants will take part in a three-month incubation programme at Krypto Labs’ headquarters in Abu Dhabi with access to the hub’s facilities. They will also have access to the innovation hub’s local and global network of investors, receive mentorship from global space experts, and develop their skills in business creation, marketing, and sales, among others.
Applicants will have a chance to secure funds to ensure their start-up investment is ready to enter the market. Eligible applicants will have to present an innovative and original idea with a clear technical approach, which generates a feasible and scalable product. Applying teams must have at least one Emirati team member.
Commenting on the initiative, HE Dr Eng. Mohammed Nasser Al Ahbabi, Director-General of the UAE Space Agency, said: “We are pleased to be collaborating with Krypto Labs to inspire young entrepreneurs to present their ground-breaking start-up ideas and contribute to the growth of the space industry in the UAE, along with promoting a diverse economy in the country. The UAE NewSpace Innovation Program invites students, entrepreneurs, and start-ups to share their ground-breaking ideas and transform them into viable commercial products.”
Dr Saleh Al Hashemi, Managing Director of Krypto Labs, added: “We are committed to promoting and building the capabilities of local youth in space tech under the National Space Strategy 2030, and it is the UAE Space Agency’s persistent support that pushes us forward in achieving this mission.”
Eng. Naser Al Rashedi, Director of the Space Policy and Legislation Department in the UAE Space Agency and Project Manager noted: “By February 2020, we aim to select high-skilled teams whose exceptional ideas will carry the potential to push forward our vision towards a diversified economy. The programme is accepting applications from university students, professors, innovators, engineers, start-ups, and entrepreneurs until February 2020. As part of the programme, there will be a nation-wide university roadshow. This will be followed by a competition held to select the top candidates, who will then pitch their ideas to a renowned and global panel of judges.”