TEHRAN – Sustainable employment and resistance economy are dependents on today knowledge and development of knowledge-based companies, the vice president for science and technology said.

Sourena Sattari explained knowledge-based economy as the new business according to national demands.

The universities have a great role in knowledge economy and entrepreneurship, he said.

Knowledge cannot be bought by money and the researches which have done by state-run budgets have no result, he said.

Sattari highlighted the importance of private sector in boosting knowledge economy.

The methods for job creation and infrastructures should be corrected to have a successful knowledge economy, he said.

Traditional business cannot meet the demand of job creation for young generation, which is possible through new activities, he said.

He said that oil economy cannot respond to production and job creation for entrepreneurs.

The new entrepreneurship ecosystem provide 140 services based on knowledge-based economy, he said.

In mid-April, Sattari announced that the number of knowledge-based companies were 3,000 ones during the Iranian calendar year 1395 (March 2016-March 2017), it increased to 3,338 ones during the Iranian calendar year 1396 (March 2017-March 2018).

Knowledge-based companies exported $450 million of products in the previous Iranian calendar year 1397, which ended on March 20, he announced.

Sattari said that the knowledge-based companies sold 900 trillion rials (about $21 billion) of products during the past year.

Meanwhile, the vice presidency announced that Iranian knowledge-based companies have created job opportunities for 140,000 applicants until the end of the Iranian calendar year 1397 (March 20, 2019).

SB/MQ/MG