During the opening ceremony of “Azadi Innovation Factory” held in the presence of the president of Iran, Sattari stated: worn-out urban areas are a suitable foundation for turning creative ideas into innovation. These areas will be turned into innovative factories with the facilitation and support of the Vice-Presidency.

According to the information center of national elites foundation, Azadi Innovation Factory was opened this morning and in the presence of Dr. Hasan Rouhani, the president of Iran. Official opening of the factory will help using the worn-out regions that have been left unused for many years to be turned into an ecosystem for flourishing of creative and innovative ideas of startup youth.

During the ceremony, Sattari mentioned that this factory has turned Iran into a leading country in turning worn-out industrial areas into a place for innovation and creativity, expressing: this national project has identified Iran as one of the hub of the region's technology and innovation production as a successful example of government-private-sector cooperation and investment in innovative ideas and their transformation into innovative businesses.

Creating a New Evolution with the Boom of Innovation and Entrepreneurship

The vice president for science and technology affairs considered the pharmaceutical industry of Iran a successful example of development of innovation ecosystem, asserting: pharmaceutical knowledge-based companies provide their products to the world with a high value added. Today, this part has become a foundation for attracting and keeping young elites and top graduates in the fields of biotechnology and drugs.

Mentioning that the mechanism of financial support of knowledge-based businesses is not giving loans, Sattari continued: venture capitals support innovations and creative ideas. The culture of support of entrepreneurship that has been rooted in the country’s culture for many years and has been forgotten due to the oil-based economy has been restored with the help of 15 venture capitals in a way that it fits the features of new businesses.

According to Sattari, the activities of Azadi Innovation Factory are related to the development of the innovation and entrepreneurship ecosystem by optimal use of worn-out urban areas, affirming: in addition to Azadi Innovation Factory, another factory has been established and completed in the east of the capital. In addition, eight other suitable urban areas have been identified in the country and will be soon turned into a place for flourishing of innovative ideas.

The president of the knowledge-based economy and culture-building technologies development headquarter added: eight innovative factories will be soon opened in Yazd, Shiraz and other large cities, all of which are facilitated by the government. In this regard, the private sector plays the main role.

Moreover, Sattari considered the urban areas an opportunity for moving the society toward innovation and entrepreneurship, declaring: the old and worn-out places in cities are a great opportunity for new businesses and development of urban culture.