TEHRAN – Twenty Iranian startups are showcasing their achievements at the 3rd Technology Investment Meeting (TIM 2021) of the D-8 Organization for Economic Cooperation which started in Tehran on Tuesday.

Pardis Technology Park is hosting the two-day event both virtually and in-person, aiming to address the investment potentials in Islamic developing countries in order to open up an opportunity for foreign and domestic investors, ISNA reported.

D-8 includes major Muslim developing countries namely, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.

Some 30 percent of these startups are active in the field of health, others in fintech (financial technology), ICT, oil and gas, and artificial intelligence, he noted.

Good opportunities, such as abundant manpower alongside cheap knowledge-based and technological products, have attracted foreign investors, despite unilateral sanctions, to consider the Iranian knowledge-based ecosystem.

Due to the prevalence of coronavirus and the observance of social distancing, some side programs of this event are held virtually, Akbar Qanbarpour, an official at Pardis Technology Park, stated.

The Strategic Technologies Center of Iran has announced that over 6,500 startups are now active in the country.

Last year, the vice president for science and technology Sourena Sattari called Iran the largest hub of startups in the region.

MG