Startup gatherings organized by the state-back Iran National Innovation Fund in the last Iranian year (ended March 19, 2020) have resulted in contracts worth 47 trillion rials ($201.7 million) between tech firms and major industrial units.
According to Siavash Malekifar, a deputy at INIF, 14 technology events were organized by the fund in the last fiscal year, offering domestic industries an opportunity to introduce their technological needs and seek appropriate tech solutions, the fund’s website reported.
“During the events, around 2,700 B2B meetings were held between knowledge-based firms and domestic industries, and over 1,650 tech needs were listed in different fields,” he added.
The INIF official noted that events have given rise to numerous contracts, strengthening ties between the growing technology ecosystem and conventional businesses and industries.
Malekifar further said the most recent tech gathering was jointly held by the Vice Presidential Office for Science and Technology, INIF and Agricultural Research Education and Extension Organization as online sessions from August 2-4.
The sessions were aimed at bridging the technological gaps in domestic agriculture sectors with the help of knowledge-based companies and tech firms working in the field.
Agricultural and livestock breeding, mechanization, irrigation, fertilizers, seeds and pesticides were discussed with the heads of tech firms in online sessions.
Tech officials believe that agriculture in Iran has a huge unfulfilled potential for technological development.
Malekifar noted that INIF’s plans are afoot to offer new services to startups working in the agriculture sector.
“The fund will offer financial support to tech units willing to participate in 13 domestic agricultural exhibitions in the current year,” he said.
“INIF has also earmarked 1.2 billion rials ($5,150) for knowledge-based companies interested in taking part in international expos.”
The fund has allocated 2.29 billion rials ($9,828) for registering national and international patents and intellectual property in the current fiscal year.
Startups registering an international industrial plan in agriculture and relevant fields will receive a grant worth 450 million rials ($1,931). In addition, tech units will be paid 1 billion rials ($4,291) for registering an international commercial brand.
Financial and technical assistance will also be offered to startups and tech firms for gaining agricultural certifications and standards, including the certificate for agricultural mechanization, organic production, fertilizer quality, ISO 9001, 14001 and 22000, Good Manufacturing Practices and CE.
Money Injection Plan
In early May, INIF announced that it is planning to loan 45 trillion rials ($193.1 million) to knowledge-based companies and tech firms in the current fiscal year (ending March 2021).
The loans are expected to boost the production of technological items and help the domestic economy grow.
Rouhollah Zolfaqari, INIF’s deputy for planning, told reporters that loans directly affect the quality and volume of tech-based products.
“It will support knowledge-based firms at all stages: from the first stage of developing ideas to making a prototype, launching a production line, entering the market and even supporting customers in making a purchase,” he said.
Zolfaqari added that the loans will come with other aid packages, including investments and research and development support.
“INIF aims to encourage private companies to invest 3 trillion rials [$12.8 million] in local tech units and knowledge-based companies,” he said.
He noted that INIF has prepared numerous schemes to attract investors and help reduce investment risk, adding that the fund will compensate probable losses, while giving a share of profits to investors.
The fund is also planning to fund academic researches as a fundamental basis for promoting technology.
The official noted that the financial aid package will be in the form of grants aimed at connecting the scientific group to industrial units. Studies on the internet of things, artificial intelligence, technological convergence, big data, blockchain, electric transportation, extended reality and tissue culture will be supported by the fund, he added.
Zolfaqari said the plan is expected to oil the wheels of domestic production.
CBI Report
Official figures show that the government has extended resources for the development of technology ecosystem in the past several years, to realize a digital economy and curb the country’s dependency on oil revenues.
According to the latest report of the Central Bank of Iran, Iran’s tech ecosystem has been fed 36.6 trillion rials ($157 million) in financial aid in the form of low-interest loans during the first quarter of the current fiscal year (March 21-June 20).
CBI says the loans have been offered to 484 tech units and knowledge-based companies, averaging 76 billion rials ($326,180) for each applicant.
The figures illustrate the government going the extra mile to support tech ecosystem, as the amount of financial aid offered to knowledge-based companies and startups has seen a significant %95.5 rise compared to the year-ago period.
