The Mohammed Bin Rashid Innovation Fund (MBRIF) has partnered with AzurX, a leading private space and satellite professional services and investment firm, to strengthen innovation in the space and strategic technologies sector.
This partnership aims to offer substantial benefits to startups and SMEs seeking acceleration and growth. By joining forces, MBRIF will gain access to high-potential space startups from around the globe, attracting them to the UAE’s burgeoning innovation ecosystem. MBRIF’s objective is to accelerate the growth of these startups by connecting them with the UAE’s ambitious space programs and providing essential resources for their success.
A Strategic Collaboration
This collaboration is a cornerstone in MBRIF’s mission to reinforce its position as a regional and global leader in space innovation, aligning with the UAE National Innovation Strategy. The partnership will leverage existing collaborations with the Mohammed Bin Rashid Space Centre (MBRSC) and the UAE Space Agency.
Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for Support Services Sector, Chief Innovation Officer at the UAE Ministry of Finance, and the Ministry’s representative at M
BRIF, stated: “At MBRIF, we believe partnerships are crucial to the development of the innovation ecosystem. Our collaboration with AzurX is a strategic move to enhance the impact and reach of innovative endeavors within the space sector. Through such initiatives, we aim to create a dynamic ecosystem that accelerates the growth of startups and contributes significantly to the industry’s evolution.”
Anna Hazlett, CEO at AzurX, added: “AzurX has actively worked to attract and support space and satellite technology companies, along with research and development (R&D), to the UAE since 2019. A flourishing UAE space sector, encompassing a vibrant startup and venture ecosystem, offers numerous strategic, economic, and diplomatic advantages. We are looking forward to working with MBRIF to contribute to their accelerator programme for space startups, enabling the expansion of the private space ecosystem in the UAE.”
Accelerator Programme
MBRIF and AzurX will actively work to attract startups from around the world to come to the UAE and accelerate their growth through a customized 6-month accelerator programme. This programme is designed to support promising innovators within the seven sectors of the National Innovation Strategy, which includes space as a pivotal sector.
The programme caters to startups at various stages of business maturity, providing tailored solutions, expert mentorship, and key resources. These include assistance in securing funding and access to various stakeholders in the UAE.
A notable success story from the programme’s involvement in the space sector is Farmin, an Emirate-based remote-sensing platform that leverages satellite imagery processed using Artificial Intelligence (AI). With the support of MBRIF, Farmin has formed partnerships with entities such as the MBRSC, Abu Dhabi Maritime Academy (ADMA), and Abu Dhabi Ports, securing over AED1.1 million across various projects.
Launched in 2018, the MBRIF Innovation Accelerator Programme aims to foster innovation by providing startups and scaleups with world-class business resources, mentorship, and support.
Seventh Cohort
The seventh cohort of the programme, selected from over 230 applicants spanning 41 countries, represents a diverse range of innovators focusing on sectors such as health, clean energy, technology, space, transportation, renewable energy, and water. Participants in the programme gain access to tailored services, mentorship, and resources aimed at accelerating growth, enhancing capabilities, unlocking value, and achieving scalability.
This partnership signifies a robust alliance between MBRIF and AzurX, poised to catalyze innovation, drive visibility, and create a conducive environment for startups in the space and strategic technologies sector in the UAE.