TEHRAN –In the closing ceremony of the 6th Technology Investment Meeting (TIM) of D-8 Technology Transfer and Exchange Network (D8 TTEN), an Iranian start-up project was selected as one of the top six ideas.

D-8 includes major Muslim developing countries namely, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.

The 6th TIM meeting was held concurrently with the Malaysia Commercialization Year (MCY) Summit, on August 12-13, in Kuala Lumpur, Malaysia.

At the event, Iranian knowledge-based firms showcased their capabilities.

The main areas of cooperation of the member states include finance, banking, rural development, science and technology, humanitarian development, agriculture, energy, environment and health.

During the two-day meeting, specialized panels in the fields of energy and sustainable development as well as artificial intelligence were held.

Also, 12 selected final investment projects in the form of two groups were showcased in the presence of judges from Malaysia and Iran.

Among six elected projects three projects were from Malaysia, one was from Nigeria, and the other one was from Pakistan.

The D-8 Secretary General, Isiak Abdulqader Imam, called the TIM a growing opportunity for establishing a shared technology and innovation ecosystem among the member countries.

Also, Milad Sadr-Khanlou, head of the D-8 TTEN, expressed the readiness of the Technology Transfer and Exchange Network to provide infrastructure for the technology and innovation ecosystem of the member states.

The official also announced the commencement of several technological joint projects between Iran and Malaysia this year.

The objectives of the D-8 Organization for Economic Cooperation are to improve developing countries’ positions in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide a better standard of living.

The 5th Technology Investment Meeting was held in Tehran on February 26-27, 2023, with participants from the group of eight Islamic developing countries.

TIM 2023 aimed at attracting capital to accelerate knowledge-based companies and startups and also attracting investors from D-8 member states.

Some 105 knowledge-based companies, startups, and technology centers from Iran, Turkey, Armenia, Pakistan, Afghanistan, and Kenya, as well as 52 investors and business delegations from Iran, Turkey, Armenia, Bangladesh, Malaysia, Syria, Afghanistan, Kenya, and Guinea,   participated in TIM 2023.

Delegations from Mongolia, China, Ukraine, and Canada attended the event online.

Knowledge-based growth

The significant and fast-paced growth in the number of knowledge-based companies with over 200 percent increase in their number just over the past year (March 2023 – March 2024), shows the solid foundation, dynamism, and growth of the country in innovation and technology and the productive atmosphere which have been made available in line with the goal of boosting domestic production with public participation.

The administration of the late President Ebrahim Raisi underscores the quantitative and qualitative development of knowledge-based companies.

The number of companies, which was around 5,000 before the current administration took office in August 2021, has now reached 10,000 with a total value of two billion dollars.

Iran’s knowledge-based companies exported over 3.6 million tons of products, valued at $2.506 billion, in the previous Iranian calendar year (ended March 19, 2024), according to the Islamic Republic of Iran Customs Administration (IRICA).

Based on the IRICA data, some 1.158 million tons of goods, valued at $5.141 billion were also imported by knowledge-based companies into the country from March 21, 2023, to March 19, 2024.

About 85 percent of the goods imported by the knowledge-based companies came from China, the United Arab Emirates (UAE), Turkey, Germany, and India, IRNA reported.

Domestic knowledge-based companies exported their products to China, Iraq, the UAE, Turkey, and Russia during this period, IRICA said.

MT/MG