IRNA - An Iranian official pointed to the improvement of Iran from the standpoint of the Knowledge-based Economy Index, and said that Iran in the last five years in knowledge-based economy has grown from 25th rank to 16th in the world.

Deputy Head of Investment Attraction Department of Iranian Vice President's Office for Scientific Affairs Alireza Daliri made the remarks at the International Investment Opportunities Conference in permanent grounds of Tehran's international exhibitions on Sunday.

'The economic activities without research and development are doomed to failure and now Iran ranks first in the knowledge-based economy,' Daliri said.

The official referred to the activities of 4,000 medium and high tech companies and said that these companies created 300,000 jobs.

Daliri specified, �70% of these companies are startups.

Caretaker of Trade Promotion Organization Mohammad-Reza Modudi also said at the meeting, �We have moved towards venture capitals - as one of the most innovative ways of financing - to further develop technologies and commercialize them.'

He continued, �A venture capital is especially useful for small and medium-sized enterprises. venture capital will provide corporate finance and simultaneously provide business experience to innovative companies; for this reason, venture capitals are now one of the most efficient methods.