Hub71, Abu Dhabi's global technology ecosystem, has entered into a partnership with Al Yah Satellite Communications, better known as Yahsat, to boost the development of new technology in the field of satellite communications.
The two entities will work together to identify start-ups that have the potential to advance the UAE’s space industry and strengthen satellite communication technology.
The Hub71 and Yahsat will also focus on providing commercial opportunities for Abu Dhabi-based start-ups to help in their growth, Hub71 said on Monday.
Mental VR, a virtual reality software development company from Hub71, secured the first contract resulting from the partnership to support Yahsat with remote learning.
“Our partnership with Hub71 is aligned with our commitment to build local capabilities and enhance the national space economy through collaborations with the start-up ecosystem,” Yahsat chief executive Ali Al Hashemi said.
“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.”
Founded in 2007, Yahsat offers multi-mission satellite services in more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
It has a current fleet of five satellites that extend its reach to more than 80 per cent of the world’s population.
Yahsat is planning to launch the Thuraya 4 Next Generation satellite (T4-NGS), next year. The satellite is expected to commence commercial services in the second half of 2024.
Yahsat also recently bought a minority stake in eSat Global, an Internet of Things connectivity solutions provider, as it seeks to expand operations in the fast-growing IoT sector.
Meanwhile, start-ups at Hub71 have raised more than Dh3.2 billion ($871 million) in funding, generated Dh2.5bn in revenue and created 800 direct jobs since its inception in 2019 through to the third quarter of 2022.
Hub71 is home to about 200 starts-ups representing 20 sectors.
“Through this partnership, we will promote economic opportunities and strengthen the UAE's growing position as a leading global hub for technological excellence,” said Badr Al Olama, acting chief executive of Hub71.