Masdar announced that it has teamed up with BP and the Masdar Institute to launch The Catalyst, an “accelerator” initiative aimed at developing businesses focused on sustainability and clean-tech.
Under the scheme, BP will provide $5 million to provide funding, training, work space and mentorship to start-ups as part of the UAE’s Innovation Week.
The Catalyst will aim to support emerging businesses in the fields of energy, water and clean technology that are between one and five years from commercialisation and have potentially patentable technology.
Source: Arabian Business web site Read more
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