Support for Innovative Startups, Tech Firms Active in Oil Industries

EghtesadOnline: Iranian startups and tech firms active in oil and energy industries showcased their latest achievements and services on the sidelines of the Third International Exhibition of Fuel Stations and Related Industries held in Tehran.

News ID: ۷۴۸۵۳۶

25 September 2019

The four-day exhibition, which concluded on Tuesday, was held at Tehran’s International Exhibition Center.

This was the first time startups active in the sector got an opportunity to introduce their smart solutions to major players in the sector, IRNA reported.

Co-organized by the Iranian Aviation Technology Development Headquarters affiliated to the Vice Presidential Office of Science and Technology, Trade Promotion Organization and Iran International Exhibitions Company, the event was focused on fuel production, transfer, distribution, investment, services and equipment, Financial Tribune reported.

Over the past few months, startups and their potential role in national economic development were in the limelight, as President Hassan Rouhani and other officials highlighted their importance in different events.

During the exhibition and its side events, industry insiders and officials conducted a survey to identify startups with unique ideas, which will be supported to flourish and help the industry grow.

Startups put forward smart solutions for upgrading conventional fuel distribution systems to smart networks, applying modern solutions on fuel management, along with devising strategies to bolster the oil sector.

A large number of startups and tech teams presented their latest achievements, unique ideas and technological products in the field.

Panels organized on the sidelines discussed the role of location-based technologies in upgrading fuel stations, technical standards and fuel station management.

Official data show over 100 million liters of different types of fuel are distributed through stations across the country. Hence, upgrading and equipping the supply and distribution infrastructures using smart solutions and cutting-edge technologies will help develop the sector.

Zanganeh on Startups

Recently, authorities in Iran’s oil sector have shown willingness to apply technological ideas put forward by startups and knowledge-based companies to give a boost to the industry.

One of the early moves was taken last autumn when Oil Ministry Bijan Namdar Zanganeh called on startups active in related fields to introduce their ideas and products during the last year's edition of the exhibition.

In line with the move, Zanganeh visited Pardis Technology Park in east Tehran on Saturday.

In a meeting with the senior managers of the park, Zanganeh said, "We are examining the work of startups and knowledge-based companies to find a way to implement their technological solutions in different branches of the oil industry."

“The use of smart solutions is necessary, if we expect the oil sector to grow and expand," he said.

State Support

Zanganeh emphasized that senior managers in the sector should get more involved in technology so that they can help their organizations develop further.

He has also ordered the establishment of a council for supporting startups active in the oil sector.

In another move to support tech firms and startups, Zanganeh announced in a recent press conference that a 17-hectare area in Shahr-e Rey Oil Refinery in southern Tehran will be prepared as a working place for tech teams willing to work in the field.

Zanganeh said that in the post-sanctions era, foreign companies have cut their collaboration with domestic units, so the only remaining hope is the untapped potential of young and talented tech teams inside the country.

“Attracting investors and professional technical and legal mentors will provide all the help startups need to flourish,” he declared.