Masdar City, Mohamed Bin Rashid Innovation Fund to support sustainability-focused UAE startups

Masdar City, Mohamed Bin Rashid Innovation Fund to support sustainability-focused UAE startups

Mohammed Bin Rashid Innovation Fund (MBRIF) and Masdar City have awarded free business licenses from Masdar City Free Zone to five startups in the MBRIF Accelerator programme. The MBRIF Accelerator aims to enhance the growth potential of innovative businesses shaping the future of UAE’s economy with a focus on technology, education, health, water, clean energy, transport, and space. The programme offers services and coaching to member companies to accelerate their business, elevate capabilities, unlock value and achieve scale. The chosen startups, Biosolvit, Wahaj Solar, Alesca Life, ECOLOO and Desolenator, will join Masdar City’s growing network of sustainability-focused companies, developing innovative solutions in the key climate action areas of energy storage, agri-tech, health-tech, mobility, clean energy, AI, water and space. The Ministry of Finance said: “We are delighted that five MBRIF members have been selected to become part of Masdar City Free Zone. This will further enable their contribution to the UAE’s developing innovation ecosystem. With this partnership, MBRIF highlights its position as a unique government-backed initiative that aims to support innovative businesses to grow and make a positive economic, sustainable and social impact in the UAE and internationally, by providing them with the platform to succeed.” Ahmed Baghoum, executive director,