Economy, Sci & Tech

Knowledge-Based Economy Booming in Iran

Knowledge-Based Economy Booming in IranKnowledge-Based Economy Booming in Iran

The growth rate of knowledge-based companies in Iran tripled last year compared with the previous year, said the vice president for science and technology.

Speaking at a conference held to introduce Know-Tech’s Technopreneurship Center and its new project to boost startups, Sorena Sattari also outlined the government’s plans and achievements in the realm of knowledge-based economy.

Referring to governmental support for startups and knowledge-based companies, Sattari said Iran has vast potential for growth in this sector, but in order to achieve this, the public opinion must change and embrace startups and knowledge-based activities, Mehr News Agency reported.

The Iranian government has been a major proponent of shifting priority from oil to knowledge-based economy. It has introduced a number of incentives for knowledge-based firms, including tax and customs exemptions, and launched an Innovation and Prosperity Fund to extend support.

Sattari also detailed some of the activities of Know-Tech’s Technopreneurship Center that acts as an incubator for new startups.

Know-Tech has recently launched a program to educate young entrepreneurs. The program has three stages: In the first stage, those who have enrolled in the program will go through an intensive training course and their performance will be evaluated. In the second stage, a select team will be sent to Germany to attend a follow-up course that lasts for a month. Finally, Know-Tech will help find investors for the selected startups.

Sattari said the future of the country and its industries all depend on developing a knowledge-based economy, while adding that knowledge-based firms can increase the country’s gross domestic product.

“Knowledge-based cultural development is one of the key elements to help tackle the current unemployment crisis in Iran,” he said.