Saudi Startups Participate In Pakistan Largest Tech Expo

11 investment contracts worth $10.6 million have been signed in the fields of medical equipment, mining, transportation, ICT, and energy.

Saudi Startups Participate In Pakistan Largest Tech Expo

The “D-8,” a group of eight developing Islamic nations, will be represented at the 5th Technology Investment Meeting (TIM 2023), which will take place in Tehran’s Pardis Technology Park on February 26 and 27.

Major Muslim developing nations in the D-8 group include Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. TIM 2023 is an international conference that aims to draw investors from D-8 member states as well as capital to help knowledge-based startups and companies grow.

Around 105 knowledge-based businesses, startups, and technology hubs from Iran, Turkey, Armenia, Pakistan, Afghanistan, and Kenya, as well as 52 investor delegations and business groups from Iran, Turkey, Armenia, Bangladesh, Malaysia, Syria, Afghanistan, Kenya, and Guinea, have declared their intent to take part in Technology Investment Meeting 2023.

The event has received applications from university professors, investors, growth centres, accelerators, students, and people with an interest in technology and innovation.

Delegations from Mongolia, China, Ukraine, and Canada will attend the event to present their ideas to international investors in ITC, materials, health, and the creative industries.

The Islamic Republic of Iran is planning to launch a joint technology investment fund based on the priorities of D-8 countries to invest in technological projects in a specialized way. At this event, a panel titled “Incentives and Investment Opportunities in Countries” will be presented.

11 investment contracts worth $10.6 million have been signed in the fields of medical equipment, mining, transportation, ICT, and energy.

According to projections, Iran also plans to sign contracts in the technological sector worth $15 million, of which $3.6 million is for projects involving pro-robotics and medical equipment between Iran and Indonesia. Plans will also be revealed in the areas of engineering services, machinery, equipment, and artificial intelligence.

Economic actors in a variety of technological fields have a great chance at this event to expand their share of global markets by showcasing their goods, services, and competencies. Over 100 foreign investors and 28 domestic investors participated in the event’s most recent iteration (TIM 2022), showcasing the goods and services of 61 startups and investment firms.

The conclusion of 11 cooperation contracts totaling $10 million as a result of this worthwhile event is anticipated to increase significantly this year.

The Technology Investment Meeting aims to attract capital through specialized panels, signing MOUs, concluding joint investment contracts, and visiting the country’s technology and innovation ecosystem.

Over 7,000 knowledge-based and 1,600 creative companies have registered and started operations in the country, with research in biotechnology, agriculture, food industries, chemical technologies, aircraft maintenance, steel, gas, pharmaceuticals, medical equipment, and medicine, oil, electronics and telecommunications, information technology, and computer software.