As part of the UAE Space Agency’s digital transformation and under the nation’s efforts to contain the spread of the Coronavirus, all the activities of the NewSpace Innovation Program adjusted to an online setting, including the selection process, bootcamp training through live webinars and the upcoming stages of the program.
During the first stage of the selection process, the top 8 tech startups that applied for the program competed in a 2-day online competition, where they worked with mentors and pitched their ideas in front of a jury. The best teams moved forward to the second stage, a Space Bootcamp, which determined the winning teams in a virtual pitch day.
The UAE NewSpace Innovation Program is one of the main pillars of the Global Space Industry Accelerator (GSIA) initiative, the first of its kind in the region. Falling under the umbrella of the National Space Investment Promotion Plan, the GSIA aims to position the UAE as a pioneering country in the space industry through innovation. It also seeks to nurture a sustainable UAE space industry, foster a healthy national ecosystem through innovation and R&D, and contribute to a diversified and knowledge-based national economy.
H.E. Dr. Eng. Mohammed Al Ahbabi, Director General of the UAE Space Agency, said, "During these challenging times, our main priority remains centered around backing innovative entrepreneurs, whose startups can contribute to catalyzing the space industry’s growth. Our objectives also remain unhindered, as we work towards building the local entrepreneurial activity in the space sector and providing practical solutions for a knowledge-based society under the UAE’s strategy for the Fourth Industrial Revolution.”
Naser Al Rashedi, Director of National Space Policy and Regulation at the UAE Space Agency and Program Director of the GSIA said, "We are extremely proud of the four teams; they have exceeded all expectations on different aspects, like business quality, innovation, and entrepreneurship. We followed an international approach in filtering those applicants, based on practical and clear criteria that considered innovation and feasibility, as well as the teams’ capabilities, various risks involved, and technical approach, and we were pleased to find Emirati team members. All applications were identified to serve space and non-space industries’ interests and needs. We would also like to thank our esteemed panel of judges, where I worked alongside Mr. Fahad Al Mheiri and Mr. Talal Al Kaissi from the UAE Space Agency, Mr. Omar Al Mahmoud from ICT Fund, Mr. Salem Abdalla M. Bin Shabib from DED. Mr. Qussay Abdul Wahab from Khalifa Fund, Mr. Johan Maree from MBRSC, and Mr. Anas Zeineddine from Krypto Labs.”
He added, “The next step is the incubation program, which will develop the four space projects into Emirati business startups that are ready to compete in the national market, and next, globally and internationally. The incubation will be conducted over four phases, to build the technical and business aspects of each project, starting with researching the market to validate the business assumptions, the next phase is to grow customer interest, and later to focus on investment and growth strategies. We will soon connect the incubatees to mentors, investors, customers, and potential partners from the space and related sectors, to take their innovations to the next level.”
Dr. Saleh Al Hashemi, Managing Director of Krypto Labs, said, “Today, we are reaping the fruits and benefits of the UAE Space Agency’s partnership with Krypto Labs, and it is this mutual commitment towards encouraging innovation within the UAE that helps us achieve our mission of ranking on the global space map. With the UAE Space Agency’s continuous support, we endeavor towards supporting scientific research and local talents whose space exploration innovations will pave the way for positioning the UAE as a leader in space sciences, and an exporter of space solutions.”
About the UAE Space Agency
The UAE Space Agency was established in 2014 to organize, support and sponsor the national space sector in the United Arab Emirates. This includes the UAE's space projects and mission, including funding and supervising the Hope probe project, which is the first program by an Arab Islamic state for exploring Mars.
The Agency, which is the first space Agency in the region, seeks to provide significant contributions to economic diversity in the UAE, in addition to training the future leaders of the space sector via a group of capability-building programs, in addition to raising awareness about the importance of space sciences, technology, engineering, and mathematics in the UAE society. The Agency is also in charge of issuing legislations and laws for the national space sector, as well as enhancing the status of the UAE in the fields related to space on the global level.
About Krypto Labs
Krypto Labs is a global innovation hub that offers custom business incubation and acceleration programs, corporate innovation, funding for early-stage startups, entrepreneurship-focused training and an inspiring coworking space. Krypto Labs is a strategic partner with Silicon Valley-based 500 Startups, which is among the world’s most active seed investors with over 2,000 startups.
Krypto Labs has evolved into a leading global player in terms of attracting leading-edge ideas, startups, and innovative solutions. Through its broad entrepreneurial network, Krypto Labs has successfully executed several sector-specific cohorts that have culminated in top startups receiving strategic investments and various business development support, including mentorship, networking, and access to markets. Krypto Labs is also involved in various R&D initiatives whereby it leverages on startups and entrepreneurs for developing cutting-edge innovation solutions. Krypto Labs also provides world-class innovation programs through strategic partnerships in corporate innovation and ecosystem development.
Krypto Labs is headquartered in the sustainable eco-development Masdar City in Abu Dhabi, United Arab Emirates.
For more information about Krypto Labs, please visit www.kryptolabs.com
© Press Release 2020