Masdar City, Abu Dhabi’s flagship sustainable urban community, has launched Tech Park, a new destination for start-ups focused on technology, sustainability and the digital economy. The strategic hub will house companies receiving funding and mentorship through the Catalyst, the Middle East’s first start-up accelerator specializing in clean technology and sustainability, as well as provide a base for research & development and other enterprises operating in the sector.
Yousef Baselaib, Executive Director for Sustainable Real Estate at Abu Dhabi Future Energy Company (Masdar), said: “The launch of Tech Park marks an important milestone in Masdar City’s development. As a sustainable urban community with a rapidly growing clean-tech cluster and business free zone at its core, we are delighted to welcome the addition of Tech Park, the first destination of its type focused on innovation in the digital economy and sustainability.”
The working population at Masdar City today exceeds 4,000 with around 600 companies now operating out of the city, from global corporations such as Siemens, Honeywell and Lockheed Martin, to homegrown enterprises and freelance entrepreneurs.
Tech Park is an eco-friendly cluster of offices, hot desks and workshops made from recycled shipping containers. Current tenants include Safe City Group, a local developer of turnkey solutions for smart and safe city projects, De L’Arta, a UAE skincare brand whose products are made from sustainable and locally sourced ingredients, Solva Technologies, Mana Ventures and Al Hakeem Advanced Engineering Services LLC.
Besides offering a fashionably alternative work environment to young businesses and entrepreneurs, the Tech Park’s shipping containers meet Masdar City’s strict sustainability standards, having significantly lower embodied energy costs than regular offices.
“Through Tech Park, we can offer our start-ups space to grow,” said Cinar Kurra, Chief Executive Officer of the Catalyst, a joint venture between Masdar and BP relaunched at Abu Dhabi Sustainability Week last year. “Then after three years, when the businesses have reached critical mass, we can help them find a permanent home at Masdar City, where they can continue to access the city’s R&D facilities and award-winning business services of the Masdar Free Zone.”