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Masdar City and MBRIF promote UAE sustainability startups | |
| Staff Writer |
The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the UAE Ministry of Finance to support nationwide innovation, and Masdar City, Abu Dhabi's only planned and approved R&D cluster, have awarded complimentary business licences from Masdar City Free Zone to five MBRIF Accelerator start-ups.
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Biosolvit, Wahaj Solar, Alesca Life, ECOLOO, and Desolenator will join Masdar City's growing network of sustainability-focused enterprises to develop breakthrough solutions in energy storage, agri-tech, health-tech, mobility, clean energy, AI, water, and space.
Commenting on the partnership, a statement shared by the Ministry of Finance said, “We are delighted that five MBRIF members have been selected to become part of Masdar City Free Zone. This will further enable their contribution to the UAE’s developing innovation ecosystem. With this partnership, MBRIF highlights its position as a unique government-backed initiative that aims to support innovative businesses to grow and make a positive economic, sustainable and social impact in the UAE and internationally, by providing them with the platform to succeed.”
The MBRIF Accelerator helps innovative enterprises in technology, education, health, water, clean energy, transport, and space flourish. Member organisations receive top-notch services and coaching to grow, improve, unleash value, and scale. During Abu Dhabi Sustainability Week 2022, Masdar City and MBRIF signed an MOU to promote entrepreneurship and economic growth in the UAE and abroad. More than 1,000 firms, from multinationals and SMEs to homegrown start-ups, are already in Masdar City, advancing the sustainability agenda and pioneering greener, more sustainable urban life. The International Renewable Energy Agency (IRENA), UAE Space Agency, Siemens, G42 Healthcare, Advanced Technology Research Council (ATRC) and its two pillar entities, Technology Innovation Institute (TII) and ASPIRE, Tabreed, Honeywell, and the Mohamed bin Zayed University of Artificial Intelligence are among these.