State Scheme to Finance 100 Startups Annually

A group of state institutions has launched an initiative to grant financial support to 100 startups per year to help them flourish.
Comprised of the Vice Presidential Office for Science and Technology and its affiliate Iran National Innovation Fund, along with Barkat Ventures, a subsidiary of the Executive Headquarters of Imam's Directive, the team started work on the identification and evaluation of startups on Sept. 23, 2019, Peivast reported.
Mohammad Yar-Ahmadi, the initiative’s public relations official, told reporters that the scheme is aimed at financing each eligible startup team with 5 billion rials ($34,700). 
"Since its inception in September 2019, 280 startups have submitted applications for financial support. After assessment processes were conducted in December 2019, five startup teams were shortlisted to receive funds," he said.