IAU Launches Technology Fund

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.