Annual Revenues of Tech Firms, Startups Surpass $12 billion

The revenues of Iranian startups and knowledge-based companies have exceeded $12 billion annually, Vice President for Science and Technology Sorena Sattari says.
The vice president added that startups and tech firms, which are mainly involved in nanotechnology, biotech, information and communications technologies, and aerospace, are gradually gaining a bigger share of Iran’s economy, IRNA reported.
Sattari noted that a significant portion of medical and laboratory equipment have been indigenized and 98% of medicines in the domestic market are manufactured in Iran, in addition to the tech achievements in transportation, auto production, mining and steel industries. 
“This has resulted from trusting the young, talented generation. The ecosystem is expected to become a game changer in the domestic economy and slash Iran’s dependency on foreign resources,” he said. 
“Iran has over five million university students who constitute a valuable driving force in the country's growth efforts. The government and private sector should seize this opportunity to invest in the young generation to mobilize their potentials and generate long-term benefits.”