Abu Dhabi: Al Yah Satellite Communications Company (Yahsat) and Hub71, Abu Dhabi’s global digital ecosystem, have partnered to hasten the startup technology adoption in satellite communications.
Yahsat will collaborate with Hub71 community founders through this agreement to advance technological advancements that assist the growth of the UAE’s mobile satellite capabilities.
A deal between Yahsat and Hub71-based startup Mental VR, a provider of Virtual Reality (VR) software development company, is the 1st agreement to come out of the new relationship. Yahsat employees who work in remote places will receive cutting-edge VR training using Mental VR’s advanced technology.
The expanded collaboration between Yahsat and Hub71 will make it easier to spot innovative start-ups with the potential to strengthen satellite communication technologies and improve the space industry in the UAE.
Hub71 and Yahsat, both backed by Mubadala Investment Company, will collaborate to develop national skills and promote the UAE’s economic expansion over the next 50 years. Hub71 has been designated by Yahsat as its Innovation Partner as part of the partnership agreement.
Startups from Hub71 will have the chance to interact with Yahsat specialists worldwide and receive strategic mentoring to learn about satellite technologies and the space sector. As part of Yahsat’s satellite and technology program, startups will also have the opportunity to investigate their business potential.
Since its launch, Hub71 has quickly grown its ecosystem, which is now home to around 200 entrepreneurs operating in 20 different industries. With specific programs encouraging more fundraising opportunities and expanded commercial opportunities, the global tech ecosystem has created a vibrant business climate for founders. Since 2019, Hub71 businesses have raised $871 million from well-known investors throughout the world and have earned $735 million in revenue.
Mr. Ali Al Hashemi, Chief Executive Officer of Yahsat, remarked that “Yahsat is proud to have been a pioneer in the satellite services industry within the UAE, championing the establishment of the nation as a global hub for space tech. Our partnership with Hub71 is aligned with our commitment to building local capabilities and enhancing the national space economy through collaborations with the startup ecosystem. As two UAE entities with a foundational base in Abu Dhabi, we look forward to working together to create greater opportunities for the development and enhancement of the satellite services industry.”