Start-ups looking to transform sector
Four international aerospace startups have opted to set-up operations in Abu Dhabi following the Emirate's innovation-led mindset and Hub71’s supportive startup ecosystem.
The start-ups are US startup Nautilus, Red Crow Intelligence from Palestine, Russian startup Precious Payload UK start-up EarthX.
Each of the start-ups aims to enhance the space and/or air sector with new digital technologies and innovations.
The UAE now has one of the largest markets in the world for aerospace, with investments in space technologies exceeding US$5.4 billion.
The UAE also has an aviation sector worth an estimated $47.4 billion.
According to reports, all four startups are making plans to move to Abu Dhabi’s Hub71, bringing a wealth of world-leading expertise with them.
Ahmad Alwan, Head of Strategy & Corporate Development at Hub71 said: “We’re extremely proud to see global startups of this caliber choose Abu Dhabi as their launchpad for regional expansion.
“It validates us as a tech ecosystem providing global startups access to top investors and industry players.
“These founders are here to find the best engineers and secure smart funding to enable them to dream big. With our partner Gothams, we aim to nurture and attract more like-minded individuals in order to create value in, and for Abu Dhabi; and the UAE as a whole.”