Iran to launch 4th ‘house of innovation’ in Russia soon

March 29, 2021 - 14:17

TEHRAN - Iran will inaugurate its fourth house of innovation in Russia in May with the aim of finding new markets for domestic knowledge-based products in the neighboring country.

A delegation of Iranian knowledge-based companies will visit Russia on May 24-25 in order to hold business-to-business (B2B) meetings with their Russian counterparts, ISNA reported on Monday.

On the sidelines of the meetings, the fourth house of innovation will officially come on stream.

Iran has already set up houses of innovation in China, Kenya, and Syria.

By supporting innovative ideas, holding technological and innovative events, the centers will be a platform for the development and promotion of Iranian knowledge-based companies, startups, and creative industries.

The centers are mainly formed with the investment and support of the private sector to provide the necessary infrastructure for their exports through the innovation houses.

“We are trying to open up opportunities for exporting knowledge-based products to other countries, especially African countries, which we may have paid less attention to, or Southeast Asian countries, which will increase both the companies’ income and confront sanctions,” Mehdi Ghalehnoei, an official with the vice presidency for science and technology, has said.

Currently, some 5,000 knowledge-based companies are active in the country, manufacturing diverse products to meet the needs of the domestic market while saving large amounts of foreign currency.

Vice President for Science and Technology Sourena Sattari told the Tehran Times in October 2020 that U.S. sanctions caused exports of knowledge-based companies to decline three years ago, however, it has returned to growth and was projected to reach the pre-sanctions level of more than $1 billion by the end of the previous [Iranian calendar] year (March 20).


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