Iran hosts startups, investors in INOTEX biz show
Yusef Jalali
Press TV, Tehran
This is where innovative ideas meet the market; INOTEX is Iran’s biggest innovation and technology event, which is held annually to bring together high-tech companies, startups, accelerators as well as venture capital funds in order to share experience and bring viable ideas to the market.
Some 200 newbie Iranian businesses took part in the event; the majority operate in the IT sector.
Aside from showcasing their products and services to visitors, startups here have the chance to pitch their ideas to investors, and the most viable ones are selected by a jury and win grants from investors.
For decades, Iran has relied on oil income as the major driving force for its economy.
The ups and downs in crude prices as well as US oil embargoes have prompted the Iranian government to pay more attention to knowledge-based startups, with the ultimate goal of finding a viable alternative to oil to run the economy.
Organizers say each startup here has the potential to turn into a big name in the market; they only need a financial push to get there.
They say INOTEX acts as a springboard for such newbie brands where they can find investors who will finance their businesses and lead them to the industry.
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