Speaking at the opening of the 4th Petrofan 1404 Conference on Sunday, Sattari said research and technology are two distinct concepts. “Technology is market-oriented,” he said. “A technological product must be able to compete, guarantee performance, and contend with both domestic and international competitors.”

He added that 30% of technology is research, while the remaining 70% involves other factors. “Innovation and technology in the ecosystem are elements that research institutes work to study and develop, transforming an idea or research into usable technology.”

Research Institutes Do Not Provide Catalysts or Licenses

Sattari stressed that one should not expect research institutes to deliver catalysts or licenses, just as universities are not expected to produce vaccines or drugs.

He noted the establishment of a technology and innovation steering committee at Persian Gulf Petrochemical Industries Company, formed under the Knowledge-Based Production Leap Law to guide policy and direct innovation.

Regarding the company’s tax credit, Sattari said the firm has received approximately 1.5 trillion rials this year and expects it to reach 2 trillion by year-end. Last year, the tax credit was 13 billion rials. Part of this credit is allocated for innovation investment.

Largest Venture Capital Fund in Iran

Sattari also announced the creation of a corporate venture capital fund with registered capital of 5 trillion rials, making it the largest venture capital fund in the country.

He said the establishment of the Persian Gulf Renewable Energy Development Company, the Persian Gulf Venture Capital Fund, and the Persian Gulf License Development Company aligns with the innovation ecosystem of the national economy. He added that the license development company was initiated by the CEO and funded with 60% of the CVC’s capital. “We hope to implement two or three projects successfully and create a replicable model,” he said.

A Choice Between Technology Use or Knowledge Creation

Fouzieh Morovat, director of product development strategy and technology innovation infrastructure at Persian Gulf Petrochemical Industries Company, said the petrochemical industry is now evaluated not only by production metrics but also by its ability to generate technology, develop technical knowledge, and contribute to the innovation economy.

Citing global experience, she added that the future of petrochemicals depends on innovation in business models, production processes, energy optimization, and new product development. “Today, we must decide whether Iran’s petrochemical industry will remain a consumer of global technology or become a developer of technical knowledge and technology itself,” she said.

840 Person-Hours of Evaluation

The Petrofan secretary said 58 petrochemical companies from outside the holding, including Shasta, Tapico, Parsian, and Ghadir, participated in the industry innovation award with support from the National Petrochemical Company. The evaluation process involved over 840 person-hours of assessment by reputable industry and technology experts.

Morovat said the innovation award will be presented in two categories, with results announced at the closing ceremony Tuesday. She noted that 357 technology needs were identified in seven specialized fields, with 127 prioritized for the country’s knowledge-based ecosystem, in collaboration with the Presidential Office for Science and Technology and four specialized advisors.

Twenty specialized sessions between petrochemical companies and 287 new technology-based firms (NTBFs) are taking place, with outcomes also announced at the closing ceremony.

400 Innovations Registered

Morovat said more than 400 innovations have been registered in the Petrochemical Industry Innovation Award databank, a unique repository that could bring Iran’s petrochemical industry closer to global knowledge frontiers if analyzed and utilized.

She said the future goals for Petrofan include becoming a national hub for technology and innovation development, expanding internationally, and strengthening the innovation value chain in petrochemicals. “We promise that Petrofan will become a world-class platform for innovation excellence and for linking technological needs with domestic innovation capabilities,” she said.

The Petrofan 1404 conference began Dec. 7 at the Research Institute of Petroleum Industry and concludes Dec. 9.