Iran’s IIID and Petrochemical Investment Company (PIIC) Sign MoU to Engage Tech and Knowledge Based Firms

In a new step to connect Iran’s petrochemical industry with the national Innovation Ecosystem, the Iran international innovation district (IIID) at Pardis Technology Park (PTP) has signed a Memorandum of Understanding (MoU) with the Petrochemical Industries Investment Company (PIIC). The agreement aims to develop indigenized technologies, implement joint research and innovation projects, and establish a structured framework for broad collaboration between PIIC and knowledge‑based and technology companies.

The MoU between the Iran international innovation district (IIID) and the Petrochemical Industries Investment Company (PIIC) was signed during a visit by senior PIIC managers to the Innovation District. This strategic agreement is expected to strengthen PIIC’s links with the country’s technology ecosystem and accelerate innovative projects along the petrochemical value chain.

In a ceremony attended by managers from IIID and PIIC, the Memorandum of Understanding was signed by Mehdi Saffarinia, President of Pardis Technology Park (PTP), and Mohammad Hossein Saber, CEO of PIIC.

The agreement is designed to create a systematic mechanism for identifying PIIC’s technological needs and connecting them to the capabilities of knowledge‑based and technology firms. Its key provisions include identifying and addressing the technological challenges of PIIC subsidiaries through knowledge‑based companies, defining and implementing large‑scale, knowledge‑based megaprojects in petrochemical ventures, and cooperating in the commercialization of applied technologies.

The MoU also highlights market development opportunities for tech companies by integrating them into PIIC’s supply chain, as well as the creation of an Innovation Factory for the petrochemical value chain and the launch of a PIIC Innovation Camp within the expansion area of Pardis Technology Park. Joint specialized events—such as Demo Days, innovation challenge programs, and themed exhibitions—are also planned under this framework.

Under the agreement, PIIC commits to joint investment, project financing, presenting its technological demands, and active participation in R&D initiatives. In return, IIID will introduce qualified companies, provide financial and non‑financial support, offer infrastructure, facilitate tax incentives, and cooperate in establishing PIIC’s Innovation Factory.

The two sides will form a joint steering committee, composed of their appointed representatives, which will prepare an annual operational cooperation plan within one month.

During the visit, PIIC executives toured two knowledge‑based companies located in IIID, as well as the District’s development phases.

This two‑year MoU is expected to mark a turning point in linking Iran’s petrochemical industry with the country’s technology‑driven and knowledge‑based companies.