The Nordic Innovation Incubator in Masdar City in Abu Dhabi opens for business opportunities in the United Arab Emirates.
The Nordic Innovation Incubator in Masdar City is the result of an initiative by the Nordic ministers of business affairs. The office, which will open in the third quarter of 2015, will provide a soft landing zone for Nordic cleantech companies who seek new business opportunities in the Emirates and the wider Gulf area. The ambition is also to provide an attractive platform for Nordic businesses already based in the United Arabic Emirates by combining the strong brand values of Masdar City and the Nordic region.
The new office will offer:
- Fully operational office space with office manager, specialised within cleantech solutions
- Competitive prices for workstations and office space in the Incubator Building
- All the benefits from operating in an economic free zone in Abu Dhabi, including customs and tax exemptions
- Brand value and services provided by Masdar City and access to tenders where Masdar City is involved
- Close cooperation with one of the leading research institutions within renewable energy, Masdar Institute
- Genuine and internationally recognised brand value within sustainable solutions as being part of the Nordic region
- A Nordic network of some of the world’s most innovative companies
Nordic cleantech industries
The Nordic region possesses one of the strongest cleantech sectors in the world, as well as global leaders within cleantech and sustainable development. According to the Global Cleantech Innovation Index 2012, Denmark was ranked at the top, Sweden and Finland at third and fourth places respectively and Norway at 11th place, out of 38 countries ranked.
However, the Nordic countries face difficulties in scaling-up emerging, entrepreneurial cleantech companies to wider commercial successes, making a case for supporting cleantech firms in seeking new markets to ensure sustainable growth and in activities to attract later-stage investment. The Masdar City incubation office is a response to this.
About Masdar City
Masdar City is one out of four vehicles established by Abu Dhabi’s sovereign wealth fund, Mubadala, to diversify the emirate’s economy by focussing on green energy technologies. The ambition is to be among the leading global centres for development of clean technology. To reach this goal, Masdar City draws on the other vehicles owned by Mubadala (Masdar Institute, Masdar Energy and Masdar Capital) and initiatives such as Abu Dhabi Sustainability Week, which has developed into one of the most important recurring global events within clean technology.
The President of Iceland, Mr. Ólafur Ragnar Grímsson, was present at the office opening ceremony earlier in 2015.