Iranian Tech Firm Signs Aviation Deals Worth $5.2m

EghtesadOnline: A domestic knowledge-based company has signed cooperation deals collectively worth 600 billion rials ($5.2 million) with several Iranian companies active in the field of aviation industry.

News ID: ۷۴۸۵۷۵

30 September 2019

During a tech event held by Iran National Innovation Fund on Saturday in Tehran, Servo Hydraulic Pooya Company (aka ServoHyd), affiliated to Iranian Research Organization for Science and Technology, signed numerous deals with local aviation firms.

According to ServoHyd Managing Director Mohammad Mehdi Izadpanah, the deals are over the sale, repair, design and production of parts and equipment related to aircraft, including fuel nozzles, pneumatic and hydraulic systems, as well as piston engines, INIF's website reported.

"As per the deals, we are set to offer training to employees of Iranian companies in the fields of standardization and reverse engineering techniques," Financial Tribune quoted him as saying.

“When the deals become operational, some 60 job opportunities for professional experts in the aviation field will be created.”

Izadpanah acknowledged INIF role in identifying technological gaps in various spheres during such events and said, "Such gatherings help connect producers and customers in the market and strengthen their commercial and technical ties."

He further said the events have the potential to stimulate the market and industry demands, boost the activities of talented startups and tech teams, expand the domestic market in various fields and oil the wheels of knowledge generation and industrial development.

Izadpanah noted that ServoHyd is willing to exhibit its technological products in exhibitions and events, explaining that national and international expos increase the chances of startups and tech firms forging ties with major companies and absorbing investments.

Stronger Support

INIF's efforts in backing knowledge-based companies are in line with the government's policy to implement tech-based solutions in various fields, from commercial spheres to urban management, to curb the country's dependence on oil revenues and make life more convenient for people.

The move started in 2013 when President Hassan Rouhani took office for the first term. Since then, tech units in different fields have experienced significant growth nationwide.

This is while some administrative officials believe the financial aspects of help should and can be stronger.

Fatemeh Hosseini, a member of Majlis Economic Commission, called on the government to fulfill its pledge of providing tech firms with more generous financial support.

As per related regulations, a part of INIF resources is provided by the National Development Fund of Iran.

"In addition to its proactive efforts to push the tech firms toward growth, the government was supposed to allocate 0.5% of its general budget to INIF resources," the lawmaker said, adding that unfortunately, the latter has not yet materialized.

Hosseini urged the government to prioritize the issue and allocate its share as soon as possible.

"Fledgling startups and tech firms should receive comprehensive and continuous help of different kinds to survive in the post-sanctions era," she said.