$40m in Guarantees for Knowledge-Based Firms

Iran's Innovation and Prosperity Fund issued 10 trillion rials ($40 million) in guarantees for knowledge-based companies during the first eight months (March 20- Nov. 21) of the current fiscal year. 
ISNA reported that 670 knowledge-based firms benefited from the special fund and use the guarantee amount as collateral to ensure their contractual commitments to companies using their goods and services. 
By issuing guarantees the fund helped pave the way for selling products/services of knowledge-based companies worth 50 trillion rials ($196 million).