Monday, November 7, 2022 – 6:02 PM
ABU DHABI, November 7 / WAM / Hub71, the global technology ecosystem in Abu Dhabi, and Al Yah Satellite Communications Company PJSC have announced. (“Yahsat” or the “Group”), the leading provider of satellite communications solutions in the UAE, announced their cooperation to accelerate the adoption of technology in the field of space communications.
This partnership will allow Yahsat to collaborate with founders and entrepreneurs in the Hub71 ecosystem to promote technological innovations that support the development of mobile satellite communications capabilities in the UAE.
Thanks to this new agreement, Mental VR, a virtual reality software development company that is part of Hub71, has signed its first contract with Yahsat to provide it with the latest virtual reality technology and provide training programs for the company’s employees in remote locations.
The agreement between Yahsat and Hub71 helps identify emerging technology companies capable of developing the UAE’s space sector and promoting space communication technologies.
Mubadala Investment Company supports Yahsat and Hub71, which will jointly build national capabilities and contribute to the economic growth of the UAE over the next 50 years. Under the new partnership agreement, Yahsat has appointed Hub71 as the Innovation Partner.
The Hub71 startups will work alongside Yahsat’s global experts, where they will receive strategic guidance in space communications technologies and the space sector as a whole. Startups will also be able to explore business opportunities as part of Yahsat’s satellite and technology programme.
Badr Salim Sultan Al Olama, Acting CEO of Hub71, said: “Our partnership with Yahsat confirms our commitment to support technology initiatives that contribute to the economic development of the Emirate of Abu Dhabi. Through this partnership, we will work to enhance the positive impact and consolidate the UAE’s position as a leading center of technological excellence worldwide. .”
Ali Al Hashemi, Yahsat CEO, said: “Yahsat is proud of its leadership in the satellite services sector in the UAE, and its vital role in establishing the country as a global hub for space science and technology. Our partnership with Hub71 aligns with our commitment to building national capabilities and enhancing The UAE’s space economy through cooperation with innovative startups, and starting from Abu Dhabi, we look forward to working together to provide greater opportunities for developing and upgrading the space services system.”
Hub71 has expanded rapidly since its inception, with nearly 200 startups operating in 20 sectors. It also provides a thriving business environment for entrepreneurs and founders and puts at their disposal customized programs that enhance the commercial opportunities available to them and the possibilities of obtaining financing. Hub71 startups have raised AED 3.2 billion from leading investors globally and have generated AED 2.7 billion in revenue since 2019.
Ahmed Al-Boutli / Ahmed Al-Nuaimi
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