TEHRAN – The first international funding innovation and technology exhibition (FINOTEX 2023) will be held from May 9-12 at Tehran’s Pardis Technology Park.

The event aims to introduce financing capacities and investment opportunities for the maximum growth of knowledge-based products and attract new financial resources to the field of knowledge-based economy, IRNA reported.

One of the basic requirements for the development of technological and innovative products, their commercialization, and the prosperity of knowledge-based companies, is the creation of platforms and fields for investment.

Accordingly, with the aim of introducing financing capacities and investment opportunities for the maximum growth of knowledge-based products and attracting new financial resources to the field of knowledge-based economy, the Vice Presidency for Science, Technology, and Knowledge-Based Economy organized the first international funding innovation and technology exhibition.

This international event has various main and side sections, the most important of which is the introduction and celebration of the most influential financing and investment institutions in the field of knowledge-based economy, holding panels, seminars, and workshops.

Holding B2B meetings for sharing experiences between startups, as well as technological and knowledge-based companies with legal and real investors in order to create investment opportunities are among the other objectives of the exhibition.

The country’s progressing process of development has accelerated with the emphasis on the formation of the technology and innovation ecosystem and the approval of laws for supporting knowledge-based companies and boosting Iran-made products.

Today, we are witnessing the positive effects of adopting the approach in the economy, culture, and daily life of people.

the Vice Presidency for Science, Technology, and Knowledge-Based Economy has reported that the sales of knowledge-based companies in the fiscal year 1400 (March 2021-March 2022) hit 4,000 trillion rials (about $8 billion) compared to the fiscal year 1399, an increase of 86 percent year on year.

Improving the scientific level of society, achieving high global rankings in the number of scientific articles, references, and patenting, reducing the illiteracy rate, and increasing the number of university courses and students are only a part of the achievements after the victory of the Islamic Revolution.

In line with the law enforced on May 24, 2022, knowledge-based production is a priority of the government so the plan for promoting knowledge-based products has progressed well so far.

According to the latest statistics, a total of 8,046 knowledge-based companies are operating in the country.

The number of knowledge-based companies in biotechnology, agriculture, and food industries is 362, in advanced pharmaceuticals is 480, in advanced materials (chemistry and polymer) is 1130, and in advanced machinery and equipment is 1721.

Moreover, 326 companies are operating in the field of medical equipment, 1821 companies in electricity and electronics, 1778 companies in information technology, 397 companies in commercialization, and 31 companies in creative industries and humanities.

MG