|
The Unit has identified three strategic thrusts. The first is the Masdar Clean Tech Fund, a $250 million private equity fund launched in partnership with Credit Suisse and Consensus Business Group in November 2006. The Fund acquires equity stakes in global companies, from start-ups through late-stage, with promising technologies in clean energy, water and environmental solutions. Particular emphasis is placed on technologies applicable to the climate and environmental conditions of Abu Dhabi.
The second is the Sustainable Technologies and Advanced Research (STAR) program, which invests in near-commercial technologies suitable for demonstration-level projects. Once proven successful, these technologies are scaled into commercially-viable businesses. STAR typically develops joint ventures with partners willing to share the risks and rewards in advancing each project. Representative projects currently in development are focused on solar power (CSP), photovoltaic, sea water desalination and biofuels.
The third is the Masdar Business Incubator which assists start-ups and entrepreneurs, nurturing them into commercially viable businesses. I&I provides seed capital, infrastructure support, market research, business mentoring and product development guidance to young startups. These services are expected to be launched once the Special Free Zone and campus are operational in 2009. The goal of the Incubator is to encourage greater entrepreneurship and small business development in Abu Dhabi, in order to drive economic diversity and growth.
|