TEHRAN (Iran News) –The Iran National Innovation Fund (INIF) has carried out 150 macro projects with the help of knowledge-based companies across the country.

Over the past three years, the INIF has concluded contracts worth 8 trillion rials (about $25 million) with knowledge-based companies for implementing technological projects, IRNA quoted INIF director Ali Vahdat as saying on Monday.

The law for boosting the production of knowledge-based companies, which has been ratified by the Majlis (Iranian parliament) and enacted by the administration, very good conditions have been provided for knowledge-based companies, he added.

In the current [Iranian calendar] year (March 2022-March 2023), new approaches have been taken to support knowledge-based companies both in terms of quality and quantity in line with realizing the goal of a knowledge-based economy, he explained.

Strengthening knowledge-based companies are on the agenda, raising hope for reducing obstacles on the path to development. Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei designated the current Iranian year as “The Year of Production: Knowledge-Based and Job-Creating”.

Strengthening knowledge-based companies are on the agenda, raising hope for reducing obstacles on the path to development.

The Leader has called on all Iranians, including citizens and government officials, to work hard to boost knowledge-based production and create new jobs.

In this regard, a strategic technology development headquarters was formed and 362,000 technological projects and 154 commercialization projects were supported, in addition to the inauguration of 23 national mega projects.

Moreover, in the field of innovation and entrepreneurship ecosystem development, 65 creative houses and innovation centers, and 30 specialized accelerators have been established with the aim of empowering and strengthening the export capacity of knowledge-based, creative, and technological companies.

So, over 7,000 knowledge-based and 1,600 creative companies have so far been registered and started operations.

The fields of biotechnology, agriculture, food industries, chemical technologies aircraft maintenance, steel, gas, pharmaceuticals, medical equipment and medicine, oil, electronics and telecommunications, information technology, and computer software are among the sectors that researchers in technology companies have engaged in.

Today, the country’s knowledge-based ecosystem accounts for more than 3 percent of GDP. And the figure is projected to reach 5 percent, however, the main goal is to step toward a 10 percent share in GDP, Vice President for Science and Technology, Sourena Sattari told Fars on February 13.

The share of knowledge-based companies in the country’s economy has exceeded 9 quadrillion rials (about $34 billion), and since 2019, it has experienced a growth of more than 450 percent, he stated.

The fields of aircraft maintenance, steel, pharmaceuticals, medical equipment, oil, and gas are among the sectors that researchers in technology companies have engaged in, leading to import reduction.

Over the past year, in order to realize a resilient and knowledge-based economy, the Vice Presidency for Science and Technology has implemented a series of activities to further develop the ecosystem of innovation and technology in the country.

A total of 400 trillion rials (nearly $1.4 billion) of financial services will be allocated to the innovation ecosystem of the country.

The Iran National Innovation Fund, the Vice Presidency for Science and Technology, the Association of Private Banks and Credit Institutions, and the Coordinating Council of State and Semi-State Banks, have signed a memorandum of understanding to develop a knowledge-based economy and innovation and technology financing fields.

To support the development of strategic technologies in the country, 205 technology development plans were approved in accordance with the needs of society, and 23 need-oriented technological plans were defined in accordance with the declared priorities of the country’s organizations and institutions.

Holding more than 28 technological events, specialized meetings, and webinars in strategic and specialized priority areas and opening 25 creative and innovation houses are other implementation results of this plan.