Vice Presidency for Science & Technology Supporting Startups

Monday, November 5, 2018 - 10:50

The head of the Iranian Directorate for Scientific and Technological Affairs of the Presidential Office for management and investment affairs Alireza Daliri has stated that the vice presidency for science and technology paves the way for startups with providing support and approving laws.

Alireza Daliri stated that world economy has shifted recently onto providing science and technology infrastructures and Iran is not an exception in this regard, Vice Presidency for Science and Technology reports.

Nowadays startups and knowledge-based companies active in different fields of innovation including biotechnology and nanotechnology are developed in the country, he added.

“We should support emerging startups with correct investment not giving loan, which make them financially weak,” he said.

He said that 15 venture capitals has been already established in Iran and there are several ones in line for beginning their work.

In early July, Daliri announced that Iran has provided 120 trillion rials (2.8 billion dollars) facilities for 1,400 knowledge-based companies during past five years.

He said that during the previous Iranian calendar year 1396 (March 2017-2018) knowledge-based companies received 38 trillion rials (about $905 million) facilities from banks.

It is predicted that facilities worth 50 trillion rials (about $1.2 billion) will be allocated to the companies until the end of the current Iranian calendar year, he said.

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