INIF Head: Iranian Startups, Knowledge-Based Companies Exports Hit $2 bln Last Year
The head of Iran’s Fund for Innovation and Prosperity (later known as Iran National Innovation Fund-INIF) made the remarks while attending the Africa's largest International Medical & Healthcare Trade Exhibition known as MEDEXPO AFRICA 2024 and the 3rd edition of the Laboratory Equipment Exhibition 3rd edition of AFRILAB 2024 in Nairobi.
The Iranian startups and knowledge-based companies took part in Nairobi-hosted event with the support of the Iranian presidency’s INIF. The fund set up a pavilion for them to showcase their products and technological capabilities.
The MEDEXPO AFRICA exhibition was held from April 17th to 19th, 2024, in Nairobi, the capital city of Kenya with the participation of companies from 30 countries.
Speaking in the opening ceremony of the MEDEXPO AFRICA in Nairobi, Khayatian said, “Today, we are witnessing a transition in countries from a resource-based economy to a knowledge-based economy. Now advanced technology has become one of the main driving forces of economic growth in different countries. However, the development of technology and its commercialization requires the existence of a diverse and dynamic ecosystem and cooperation among its components. This ecosystem consists of a variety of components ranges from universities, growth centers and accelerators to innovation centers, technology parks, venture capital (VC) funds, government bodies, civic bodies, and startups.”
The INIF chairman continued to say that a thriving ecosystem in the field of innovation and technology has been created in Iran, noting, “There are more than 10,000 startups and knowledge-based companies in Iran. These companies are active in various fields from health, agriculture and food industries to mining and chemicals, telecommunications, etc.. Some of them have successfully entered the international markets.”
“This situation is the result of several years of activities of hundreds of universities, more than 10,000 university professors, more than 3 million students especially in master's and doctoral degrees, about 50 technology parks, 300 growth centers, more than 200 accelerators and 200 investment companies,” he detailed more.
“Iranian startups and knowledge-based companies exported about $2 billion last year and this trend is upward.”
Khayatian said that Iran and Kenya leaders have shown their willingness to develop bilateral cooperation between the two nations. “In the first step, they aim to increase the volume of trade exchanges by 10 times to develop relations. Last year, the president of Iran visited Kenya and 5 cooperation documents were signed in the presence of the presidents of the two countries. We hope that we will soon see more economic and commercial cooperation between the two sides with the development of transportation infrastructure and the activation of shipping and air lines, the reform of tariffs and the establishment of preferential tariffs and the facilitation of monetary, financial and banking communications.”
“Cooperation in the fields of advanced technology between Iran and Kenya has been going on for several years and is growing today. Iran House of Innovation and Technology (IHIT) which has been operating for 3 years in Nairobi, is an institution that has helped develop relations between Iranian companies and their Kenyan counterparts, especially in the field of health,” the INIF head continued.
“About 1000 Iranian knowledge-based companies have considerable capabilities in the field of health and are ready for constructive cooperation,” Khayatian also said.
“More than 50 Iranian medical device companies have been registered in Kenya and this trend is upwards,” he further said, adding, “A total number of12 Iranian companies operating in the field of producing Pharmaceutical Ingredient (API) have succeeded in obtaining GMP certificate from the Food and Drug Administration of Kenya with the support of Innovation Fund (INIF), 2 of which have succeeded in exporting their products to Kenya. Soon, we will witness the exports of 10 other companies. These ingredients will be transformed into final products in Kenyan factories.”
“This is a win-win cooperation that can generate jobs and create economic and social added value in both countries. We are ready to expand these experiences and help in supplying medicine and equipping hospitals and medical centers in Kenya.”
According to the INIF report, MEDEXPO is the Africa’s most import medical and healthcare event for medical manufacturing products, equipment, machinery, services and solutions. The exhibition showcases innovative solutions from leading market players for the benefit of buyers from the medical technology industry, from across the East African region. The event is an important stop for buyers from across East Africa seeking new products, equipment, machinery, services and solutions in healthcare.
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