Hub71, Abu Dhabi’s global technology ecosystem, has partnered with Al Yah Satellite Communications, better known as Yahsat, to advance the development of new technologies in satellite communications.
The two companies will work together to identify startups that have the potential to advance the UAE’s space industry and strengthen satellite communications technology.
Hub71 and Yahsat will also focus on creating commercial opportunities for Abu Dhabi-based startups to support their growth, Hub71 said Monday.
Mental VR, a Hub71 virtual reality software development company, secured the first contract from the partnership to support Yahsat in distance learning.
“Our partnership with Hub71 is consistent with our commitment to building local capabilities and strengthening the national space economy through collaborations with the startup ecosystem,” said Yahsat Managing Director Ali Al Hashemi.
“As two UAE companies with an incorporation base in Abu Dhabi, we look forward to working together to create greater opportunities for the development and improvement of the satellite services industry.”
Founded in 2007, Yahsat provides multi-mission satellite services to more than 150 countries in Europe, the Middle East, Africa, South America, Asia and Australasia.
It currently has a fleet of five satellites, extending its reach to more than 80 percent of the world’s population.
Yahsat plans to launch the Thuraya 4 Next Generation (T4-NGS) satellite next year. The satellite is expected to begin commercial service in the second half of 2024.
Yahsat also recently acquired a minority stake in eSat Global, a provider of connectivity solutions for the Internet of Things, to expand its operations in the fast-growing IoT sector.
Meanwhile, startups at Hub71 have raised more than Dh3.2 billion (US$871 million) in funding, generated Dh2.5 billion in revenue and created 800 direct jobs since its inception in 2019 through the third quarter of 2022.
Hub71 is home to around 200 start-ups from 20 industries.
“Through this partnership, we will foster economic opportunity and strengthen the UAE’s growing position as a leading global hub of technological excellence,” said Badr Al Olama, Acting CEO of Hub71.
Updated November 07, 2022 11:01 am