Iran’s Islamic Azad University has inaugurated a research and technology fund to back new tech teams and startups throughout the country.
During a Wednesday event, Saeed Askari, the head of the fund, said the institution has been established with an initial investment of 200 billion rials ($932,400) supplied by IAU’s resources and private investors, IRNA reported.
“With numerous branches all over the country, Islamic Azad University has a nationwide reach. Similarly, its tech fund is mandated to aid the growing technology ecosystem not only in the academic atmosphere but also on a nationwide scale,” Askari added.
The fund will provide fledgling startups with loans, offer legal consultancy and help implement tech projects.
“Islamic Azad University has close ties with the Vice Presidential Office for Science and Technology, major tech parks and well-developed knowledge-based companies. These relations and the university’s extensive financial resources can help the fund act decisively and extend help to numerous firms,” he said.
“The fund is expected to contribute to the development of a knowledge-based economy and improve employment.”
Financial assistance is vital for emerging tech units and startups. During the past couple of years, universities have become more active in establishing funds to boost the technology ecosystem.
In early January, local universities in the northern province of Golestan joined Golestan Tech Park and private investors in launching a research and technology fund.
According to Mehdi Ghaffari, the head of the tech park, the fund has been established with an initial capital of 50 billion rials ($233,000).
“The fund’s resources are expected to increase when more investors join hands and provide fledgling startups with grants and cheap loans,” he said.
A couple of months ago, a provincial research and innovation fund was launched by the Vice Presidential Office for Science and Technology with an initial investment of 50 billion rials ($233,000).
The fund is tasked with offering low-interest loans to boost the implementation of innovative projects. It will complement several technology centers that came on stream in Golestan in October 2020.
Tech Centers
Besides establishing funds, the academia has stepped in to establish workplaces for tech enthusiasts.
With the government’s support, Iranian universities have launched technology centers in three cities to expand startup and knowledge-based ecosystems.
The centers are based in Arak, the provincial center of Markazi, Isfahan in the namesake province and the northern city of Sari in Mazandaran Province.
In early January, Vice President for Science and Technology Sorena Sattari visited the state-run Arak University and inaugurated an innovation center called “Mobin”.
The center is aimed at supporting startups and knowledge-based companies set up by students and tech enthusiasts in the city, the vice presidential office’s website, Isti.ir, reported.
The vice presidential office and the university have jointly financed the project.
According to university officials, the tech center will help promote scientific and technological research related to urban management and people’s everyday life.
During his visit, Sattari also launched an innovation center at the Islamic Azad University of Arak.
The center offers workspace for startups and over 40 tech teams. A startup accelerator, an ICT developer and a mentorship office also extend assistance to tech teams. It would offer support to startups active in the fields of apparel design, agriculture, health, recycling, culture and art, and chemicals.
Strong Role of Universities
The outstanding achievements of tech firms and knowledge-based companies have lured different sectors for investment and support.
Universities have shown strong interest in the field, allowing access to campus areas and extending financial support to tech teams.
Besides forming innovation centers and attracting tech teams, universities can utilize their scientific edge to help startups.
Such efforts are seen in Tehran and other Iranian cities as a collective move to advanced their tech ecosystems.
In November 2020, Sharif University of Technology in Tehran and Astan Quds Razavi, a charitable organization in Khorasan Razavi Province, launched an innovation factory adjacent to Ferdowsi University of Mashhad.
The center is reportedly specialized in the restoration of medical equipment and clinical devices, which will help save $420 million annually.
In addition, Zanjan University of Medical Sciences, located in the namesake province, has joined the vice presidential office to invest 320 billion rials ($1.5 million) in innovative projects to help develop unique ideas and commercialize tech-based plans in a wide range of health fields.
Golestan University of Medical Sciences also hosts an innovation center specializing in health technology, which offers virtual visits for clinical diagnosis and post-treatment support and consultancy services.
The tech center is also providing technical, scientific and commercial support to innovative teams and aiding efforts to commercialize their ideas.
Nationwide Efforts
Extending support to new startups and technology firms has been on the government's agenda since 2013 when President Hassan Rouhani started his first tenure.
Over the past few years, numerous tech parks and innovation factories have been established throughout the country to offer shared workspaces and other facilities to tech units.
Currently, there are seven tech parks in Tehran Province, most of which are backed by major Iranian universities, including Tarbiat Modares University, University of Tehran, Sharif University of Technology, Iran University of Medical Sciences, Shahid Beheshti University and Islamic Azad University.
These tech parks carry the name of universities backing them.
Innovation factories in Tehran, such as Azadi and Highway, have also attracted numerous tech teams and startups.
Azadi Innovation Factory was launched in August 2018 at an abandoned chemicals factory near Azadi Square, west of Tehran. Backed by the Vice Presidential Office for Science and Technology, the center is managed by Sharif University of Technology.
Highway, the capital's second innovation factory, is under construction. The factory is being established in an old building near Nobonyad Square on the northeastern flank of Tehran.
Tehran is not alone in its push for establishing innovation factories and tech parks. Numerous centers have also been launched across Iran.
The vice presidential office is developing innovation factories in Iranian metropolises like Isfahan, Shiraz, Mashhad, Tabriz, Arak, Karaj and Yazd to expand their startup and knowledge-based ecosystems.
At the innovation factories, startups and knowledge-based companies find legal, technical and financial support to develop their activities.
With the extension of infrastructural and financial support, those who are active in the tech ecosystem are propelling Iran’s domestic production to end the economy’s oil dependency and help overcome sanctions.
