Mohammad-Sadeq Khayatian made these remarks on Sunday during the opening ceremony of the “Petrofan 1403” conference.

He noted significant developments in the tech-based sector in the country, stating that in recent years, there was a lack of awareness regarding innovation and technology among NTBFs.

“Today, we witness a mature and dynamic ecosystem that can effectively align with the development of various industries, including the petrochemical sector,” the official said.

Khayatian highlighted the growth of the technology-based culture in Iran, mentioning that over 10,000 NTBFs are currently active in the country, with 30 to 40 percent of them producing high-tech products that are competitive on a global scale.

He also referred to the recent approval of the "NTBFs Growth Law," which complements the initial legislation by providing incentives for larger companies to enable NTBFs to thrive, especially in major industries.

The official explained that attractive tax incentives in various countries greatly enhance the appeal for knowledge-based companies, and noted that Iran has also paved the way for these companies through supportive legislation.

“This trend, which has led to reduced growth rates and development in some large companies, can result in increased investments in technology and innovation,” he added.

Khayatian stressed that the optimal utilization of knowledge-based companies' capabilities is possible when larger corporations invest in this area. By leveraging tax incentives, companies can diversify their investments and foster greater collaboration between large corporations and NTBFs.

He reminded attendees that the petrochemical industry, being one of the largest sectors in the country, can harness the potential of new technologies and NTBFs to bring about significant transformations in its processes and products.

"The Innovation and Prosperity Fund is ready to support such collaborations so that industries can continue their growth and development based on innovation," Khayatian said.