Masdar establishes Nordic innovation hub in UAE
Nordic Innovation Hub’s purpose is to create a business incubating platform for all Nordic companies considering business in the UAE, as well as those already operating within the country
Masdar City’s Free Zone has facilitated the establishment at Masdar City of the Nordic Innovation Hub, a business incubator designed to bring Nordic clean technologies and solutions to the UAE.
Nordic Innovation Hub’s purpose is to create a business incubating platform for all Nordic companies considering business in the UAE, as well as those already operating within the country, said a statement.
The hub is a result of a decision by the Nordic Council of Ministers, the body for intergovernmental cooperation between Nordic countries and collaboration with Masdar Free Zone (MFZ) to initiate a soft-landing solution for Nordic companies keen on operating in the global sphere with a particular interest in expanding in the Middle East.
Nordic Innovation Hub is financially supported by Nordic Innovation – an organisation promoting cross-border trade and innovation – working under the auspices of the Nordic Council of Ministers.
“At Masdar City we are pioneering a green print for existing and future cities to sustainably accommodate rapid urbanisation by deploying innovative and sustainable clean technology solutions," said Dr Belhoul.
"We believe that knowledge sharing, global collaboration and the adoption of the most suitable applications for situations that require its own specific solutions are three vital components for reaching our goal. The newly-established Hub will contribute to the three requirements, while also supporting economic growth,” he said.
Mohammed Al Fardan, the head of MFZ, said: “Masdar Free Zone is an integral part of Masdar City, and also the launchpad for new and innovative ideas and collaborative partnerships in renewable energy and clean technology.
"We believe that collaboration is key to driving sustainable economic growth, employment, innovation and prosperity.
“Masdar City’s appeal as a Free Zone has attracted around 350 companies to date, and we continue to build this community of tech companies in an ideal, strategic location that offers not only appealing commercial benefits, but also an unparalleled opportunity to take advantage of access to innovation, research and knowledge via the Masdar Institute of Science and Technology.”
Green Business Norway, the first user of the hub, also introduced its collaboration with Nordic Innovation in implementing its Business Intelligence Programme for the UAE at the launch.