Search by Popular Categories


  • Consumer

  • Commercial

  • Construction

  • Industrial

  • Oil & Gas

  • DIAMOND SPONSOR

INDUSTRIAL NEWS

Masdar-BP initiative backs three start-ups

Jan 18, 2020 9:46 AM

The Catalyst a sustainability-focused accelerator supported by Masdar and BP has announced three new companies for its second cycle of funding training and mentorship. The announcement was made at Abu...

The Catalyst, a sustainability-focused accelerator supported by Masdar and BP, has announced three new companies for its second cycle of funding, training and mentorship.
 
The announcement was made at Abu Dhabi Sustainability Week 2020, the region’s largest sustainability gathering, taking place this week in the UAE capital, said a Wam news agency report.
 
According to a statement released by Masdar, all three start-ups will receive funding and training, access to The Catalyst’s mentor network, and office space at Masdar City’s Tech Park or Accelerator Building.
 
"We are pleased to welcome our new companies to The Catalyst, the region’s first clean technology accelerator focused on sustainable growth. Masdar City is the natural home of innovation in Abu Dhabi and all these businesses will benefit from its R&D facilities and the award-winning business services of Masdar City Free Zone – for long after they have completed their acceleration period," said Cinar Kurra, Chief Executive Officer, The Catalyst.
 
One of the three start-ups is Seramic Materials, which converts industrial waste such as fly ash or steel slag into value-added ceramics. It has been granted $150,000, along with a two-floor laboratory space, and office and showcase space in the Tech Park, the statement noted.
 
The second start-up, Key Technologies, is a company developing a high-tech, autonomous, ultra-long-distance surveillance system, which has been granted $190,000 and an office space at Masdar City.
 
Volts, the third start-up to receive Catalyst support, is developing a smart battery management system that can power an entire house from a renewable energy source. It has been granted $175,000 and a space for laboratory testing.
 
"BP is excited to see the success of this partnership with Masdar and the progress made since we first established The Catalyst. The three new start-ups are a testament to the continuous hard work by The Catalyst team, who are focused on sustainability and attracting the best start-ups, which will be showcased at WFES 2020," said Salem bin Ashoor, General Manager and Chief Representative of BP UAE.
 
More than 700 companies currently operate at Masdar City, including start-ups, SMEs and multinational companies, with tenant registrations increasing by over 15 percent in 2019.
 
The Masdar City Free Zone announced new free zone packages at last year’s Gitex Technology Week, offering start-ups and companies competitive leasing and registration fees. The free zone is also expanding its operations with the development of a new Accelerator building, which will provide an additional 4,370 square metres of space.
 
Catalyst accepts applications from local and international entrepreneurs with start-up projects in the fields of aggrotech, biotech, electric mobility, energy efficiency systems, and food waste management systems. The accelerator provides up to $190,000 in grant funding per company, as well as training, one-on-one mentorship, and access to the support of the award-winning Masdar City Free Zone.

INDUSTRIAL NEWS

ADCCI sets up dedicated working group for startups and SMEs Mar 28, 2024 17:02 PM

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has set up...

Top facilities to create new maritime gateways for Abu Dhabi Mar 28, 2024 15:04 PM

The Integrated Transport Centre of the Department of Municipalities...

Green Corp acquires Jeddah-based Emad Bakeries Mar 28, 2024 11:57 AM

GreenCorp has acquired Emad Bakeries a prominent Jeddah-based producer...

EGA upgrades to SAP’s S/4HANA for key functions Mar 28, 2024 10:49 AM

Emirates Global Aluminium (EGA) has announced signing a deal with...

MoIAT launches ITTI Use-Case Guide on industrial best practices Mar 27, 2024 16:40 PM

The UAE Ministry of Industry and Advanced Technology (MoIAT) has...

World Cement Association to address challenges at China forum Mar 27, 2024 13:51 PM

The World Cement Association (WCA) said its 7th Annual Conference...