TEHRAN -- Iranian knowledge-based companies and startups active in the field of space technology will gather during a space products exhibition, which will be held form July 7 to 9 in Tehran.

Organized by the Iran National Innovation Fund and the Iranian Space Research Center, a series of meetings on IT and innovation will be also held on the sidelines of the event.

Cooperation between investment organizations like the Iran National Innovation Fund and the Iranian Space Agency (ISA) can boost cooperation of the private sector in the field of space technology, ISA Director Morteza Barari wrote on his Instagram account.

The event provides an opportunity for business development of remote sensing and telecommunication satellites technology and to assess challenges and methods to connect students, venture capitals and space technology companies, he said.

Iran, as a country which has made several achievements in space technology in recent decades, is not an exception. Now, the Iranian Space Agency (ISA) promotes space-based businesses as one of the main factors for the development of the country.

In March 2019, the head of the Iranian Space Research Center Hossein Samimi announced that the center is working on five key projects, which are considered as the main achievements of Iran’s space technology.

According to an agreement signed in February 2019 between the Iranian Space Research Center and the Ministry of Agriculture the remote sensing satellites are planned to be used in different sections of the agricultural industry,

The center already provided a map of the cultivated area, which provides more than 95 percent of the national rice market in five provinces.

According to Morgan Stanley, it is estimated that the global space industry could generate revenue of $1.1 trillion or more in 2040, up from $350 billion, currently. Yet, the most significant short- and medium-term opportunities may come from satellite broadband Internet access.

SB/MG