Iran reports 60% growth in knowledge-based companies’ revenues last year

Revenues of Iran’s knowledge-based companies grew by 60 percent in the last Iranian year, ending in March, reaching 1,833 trillion tomans (over 18.3 billion dollars), according to Hossein Afshin, Vice President for Science, Technology and Knowledge-Based Economy.

Citing new government data, Afshin said sales of knowledge-based products rose 40 percent compared to 2023, amounting to 369 trillion tomans (3.59 billion dollars).

He added that these products now account for 81 percent of total sales by technology-oriented firms, underscoring their growing role in the national economy.

The vice president noted that while start-ups make up 67 percent of all knowledge-based companies, their contribution to overall revenues remains limited due to their early-stage nature.

He emphasized that expanding investment models and developing methods for valuing technical knowledge could help these firms improve profitability and gain access to emerging markets such as the No-Afarin market.

Afshin also highlighted the growing presence of knowledge-based firms in Iran’s capital markets. Currently, 113 companies are listed on the Tehran Stock Exchange, while 27 are admitted to the No-Afarin board of the over-the-counter market. Around 10 firms have so far completed initial public offerings, he said.