Iran’s Vice President for Science, Hossein Afshin, announced the launch of 80 innovative products at the Far Iran Expo and the 16th Nanotech Exhibition, projecting up to $1.35 billion in annual foreign currency savings.

Why it matters:

The initiative aims to reduce import dependency and improve access to critical goods, especially in healthcare, by supporting domestic production of high-tech solutions.

 

The big picture:

Products span sectors including health (30), oil and related industries (28), power (11), AI and software (10), agriculture (5), and other sectors such as water, textiles, automotive, mining, and laboratory equipment (8).

Companies whose products pass innovation screening will receive support for lab infrastructure, production scale-up, and incentive packages in 2026.

 

What he's saying:

Afshin emphasized that only high-reliability products will be showcased, positioning the expo as a symbol of Iranian youth innovation.

He stated that the initiative will lower consumer costs and improve access to services for vulnerable groups, particularly in the pharmaceutical sector.

 

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