home Latest News Iranian startups, knowledge-based companies to provide commodities impeded by sanctions: VP – Tehran Times

Iranian startups, knowledge-based companies to provide commodities impeded by sanctions: VP – Tehran Times

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TEHRAN – Iran’s science and technology vice presidency plan to supply commodities, which are impeded by Iran’s sanctions, with the productions of Iranian startups and knowledge-based companies, the VP Sourena Sattari announced, Tasnim reported on Thursday.

“We plan to encourage startups to provide strategic products and services for the country, specially the commodities affected by sanctions,” he explained.

The existence of 6,000 startups and 4,000 knowledge-based companies provide a great potential to meet the national demands, he said.

The knowledge economy should be improved and this is possible through providing entrepreneurship and innovation ecosystem, Sattari explained.

He said that the startups and knowledge-based companies create wealth for the society, which has a great impact on Iran’s economy as well.

Fortunately now the society is aware of the value of knowledge economy and its national benefits, he concluded.

In late January, Sattari announced that the knowledge-based companies meet about 97 percent of the domestic market’s need to medicine which saves $550 million for the country.

He said that Iran boasts over 4,000 startups with about 600 trillion rials (about $14.3 billion) income.

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