Al Yah Satellite Communications, more often referred to as Yahsat, and Hub71, Abu Dhabi’s global technology ecosystem, have partnered to advance the advancement of new technology in the satellite communications sector. Together, the two organisations will search for start-ups that could boost satellite communication technology and advance the UAE’s space economy.
According to Hub71, Yahsat and Hub71 will also concentrate on giving start-up businesses in Abu Dhabi commercial options to aid in their expansion. The first agreement emerging from the relationship was signed by Mental VR, a Hub71 virtual reality software development business, to provide remote learning assistance to Yahsat.
Yahsat was established in 2007 and provides multi-mission satellite services in over 150 nations throughout Europe, the Middle East, Africa, South America, Asia, and Australasia. Currently, it has a fleet of five satellites, which allows it to reach more than 80% of the world’s population.
The Thuraya 4 Next Generation satellite (T4-NGS) will be launched by Yahsat the following year. In the second part of 2024, it is anticipated that the satellite will start offering commercial services. In order to strengthen its business in the quickly expanding IoT industry, Yahsat also recently purchased a minority position in eSat Global, a provider of connectivity solutions for the Internet of Things.
Since its launch in 2019 through the third quarter of 2022, start-ups at Hub71 have raised more than Dh3.2 billion ($871 million) in the capital, generated Dh2.5 billion in sales, and added 800 direct employment. Approximately 200 start-ups from 20 different industries are based at Hub71.
“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.”
“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.
