“This is a result of the abundant universities and research and scientific centers in the city,” he added.

Sattari noted that Tehran’s considerable human resources, along with its immense academic potentials, grant the sprawling capital a unique opportunity to develop its innovative plans.

This is of great significance since the knowledge-based sector can greatly contribute to oiling the wheels of the economy, he said.

The 17 festival of Best Companies of Pardis Technology Park is held annually to highlight the best businesses and products developed at Tehran’s first technology park, which is located 30 km east of the capital.

The park has a stellar record and has signed collaboration deals with academia to help promote the technology sector.

Selected companies picked by a panel of industry heads will be offered meetings with investors and awarded incentives to boost their potential.

Pardis Technology Park created a decade ago, is supervised by the Vice-Presidency’s Office for Science and Technology.

Tehran currently has 21 operational technology parks across the city affiliated to universities like Tarbiat Modares University, Tehran University, and Amir Kabir University.

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He said PTP companies exported 40 products worth 35 million euros to as many as 21 countries last year.

He put the sales growth of PTP knowledge-based companies at 31 percent in 2018.

“Last year, we had 135 innovative products at the PTP,” he said. “Our knowledge-based companies produced 110 new or upgraded products in 2018. 23 products were also indigenized, and we patented two products.”

In 2018, PTP defined 16 research and joint production projects worth 21 million euros with nine countries, he added.

Pardis Technology Park (PTP) is based in Pardis, a satellite city 20 kilometres (12 mi) outside of the Tehran metropolitan area. The park has been proclaimed the “Silicon Valley of Iran”.

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