Press TV, Tehran
This is where innovative ideas meet the industry; 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.
This year, only managers, businessmen and experts are allowed to participate and visit the expo, which is held in the open air due to the coronavirus pandemic. Over 300 Iranian and foreign exhibitors are present to showcase their latest products to some 20,000 physical and online visitors.
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-led sanctions on Iran's oil industry have prompted the Iranian government to pay due attention to knowledge-based startups which can find a viable alternative to oil to run the economy.
Organizers say each one of the startups here has the potential to turn into a big name in business; they only need a financial push to get there. They say INOTEX is a golden opportunity for such newbie brands to find investors who can finance their operations in the industry.