Investing in Knowledge-Based Companies

Investing in Knowledge-Based Companies
Investing in Knowledge-Based Companies

The Ministry of Health and Medical Education will support expatriates and foreign investors in establishing knowledge-based companies active in the field of health and medicine in the country, said Hossein Vatanpour, director general of the ministry’s Health Technology Development Office.

“One of the main hurdles to knowledge-based businesses is their low productivity, and this issue will be addressed at the first meeting of knowledge-based health companies next month and practical strategies will be presented,” he was quoted as saying by ILNA.

The meeting on September 13-14 will also hold the first conference on ‘Basic Medical Sciences and Knowledge-Based Production’ and 278 domestic knowledge-based companies are expected to participate and showcase their achievements.

“It is crucial that we provide the wherewithal for our expatriate technologists and elite to work in Iran instead of merely importing knowledge or production licenses in the post-sanctions era.”

He said efforts to control imports of goods by foreign knowledge-based companies are another way to support national companies post sanctions. The Health Ministry encourages obtaining international certificates to improve the quality of domestic products.

The fact that local scientists and scholars are unfamiliar with entrepreneurial, marketing and principles of commercialization, hinders their growth. An education portal on the Health Technology Development Office’s website provides information on economy and trade.

“Recommendations have been made for executive officers in universities of technology to be stewards of knowledge-based companies so as to be able to offer guidance,” he noted.